Exciting news came this November from the American Council on Gift Annuities: Charitable gift annuity rates will increase, on average, by approximately 0.6% depending on the age of the annuitant. The new suggested maximum rates will go into effect Jan. 1, 2023.
Do you have concerns about secure, fixed income during your retirement years? A charitable gift annuity could be a great way to receive income and at the same time make a gift to a nonprofit organization that means something to you. As an added benefit, you may be able to transfer low-yield or volatile securities to fund a charitable gift annuity and increase income while minimizing capital gains taxes.
Is 2023 The Year of the CGA?
With not one but two increases in ACGA rates in the last 6 months, 2023 may be the year of the CGA. And we may have another gift just in time for the holiday season—the potential passage of retirement plan legislation. The current text adds a provision for IRA owners to make a one-time qualified charitable distribution (QCD) gift to fund a gift annuity up to $50,000.
For More Information, Please Check This Link
If you would like more information including a case study of how a CGA works, please click here to go to https://hsnaples.planmylegacy.org/charitable-gift-annuities. And please let me know if you have any questions you’d like to discuss directly.
Senior Philanthropy Officer
Humane Society Naples
Kim Hanson is HSN’s Senior Philanthropy Officer. With more than 40 years in the nonprofit development field, Kim posts a monthly blog on our HSN website about ways of saving the precious lives entrusted to us through a variety of charitable giving vehicles.