Charitable Gift Annuity
Are you looking for a secure source of income now or for your future? A charitable gift annuity with CBF will provide you with dependable, fixed income for life and significant tax savings while protecting local rivers, streams, and the Bay you treasure.
In exchange for a gift of cash or stocks, CBF agrees to make steady, fixed payments to you (or you and one other person you designate) for the remainder of your life/lives. It's an agreement between you and CBF that benefits the Bay—a symbiotic exchange that secures a healthy tomorrow.
How it Works
A charitable gift annuity is a contract between you and the Chesapeake Bay Foundation.
- You transfer property to CBF. In exchange, we pay you fixed income for life.
- The fixed income depends on your age.
- A portion of your income stream may even be tax free.
- You will receive a charitable deduction for your gift of the remainder to CBF and the satisfaction of furthering our mission.
Types of Assets You May Give
- If you decide to fund your gift annuity with cash, a significant portion of the annuity income will be tax free.
- You may make a gift of your appreciated securities to fund a gift annuity and avoid a portion of the capital gains tax.
Start Receiving Payments Now with a Current Gift Annuity
If you desire current income, you may transfer property in exchange for a fixed income beginning as early as this year. You will receive an income tax charitable deduction this year for the value of your gift to CBF.
Deferred Gift Annuity for Income at Future Date
Perhaps you are not ready to begin receiving income until a future date, such as when you retire. You can establish a deferred gift annuity, receive a charitable income tax deduction this year and receive payments at a designated future time. Best of all, because you deferred your payments, your annual payment will be higher than with a current annuity.
Contact us for a custom calculation of how an annuity can benefit you.