Charitable Gift Annuities

Guaranteed Payments to You for Life

A gift annuity works like an annuity purchased from an insurance company. You enter into a contract with our Converge annuity partner, Converge Cornerstone Fund, to transfer cash or appreciated property to Converge (via Cornerstone Fund), in exchange for guaranteed specific income payments for life to you or a designated beneficiary. Payments can be made quarterly, semi-annually, or annually.

Income Tax Deduction

You receive an income tax deduction for the difference between the purchase price of the annuity and the value of the annuity payments (calculated according to industry actuarial tables). You will be responsible for taxes generated on a portion of the annuity payment as income each year you receive annuity payments.

Gift Annuity Variations

A charitable gift annuity’s payments may begin immediately in the year the annuity is purchased, or deferred to begin at a specified future date, or it can be flexible deferred. Deferred annuities often appeal to younger donors who need an immediate tax deduction, but who seek to secure an income for retirement (note there are certain age restrictions). Our annuity partner can issue your gift annuity for one life (one person), two lives, joint and survivor, or consecutive lives. The minimum gift annuity amount is $10,000; there is no maximum amount.

To Get Started

Our sister organization, Converge Cornerstone Fund, provides Charitable Gift Annuity services for Converge. To begin taking a look at what a gift annuity’s payments to you might be, contact Steve Schultz at Converge, and based on the basic information you provided us, we’ll be glad to create a written “Crescendo Illustration” which provides you with a summary of benefits, in order to help you make an informed decision.

Need Help?

Call Steve Schultz at 1-800-323-4215 (ext. 3256) or email Steve now.

    Point - Fall 2017

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