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Annuities: Providing Income Today

Annuities and Hospice of Marion CountyA charitable gift annuity transfers cash or property to Hospice of Marion County in exchange for our guarantee to provide fixed payments to one or two life annuitants. This type of annuity consists of 2 elements:

  • an outright charitable gift and
  • the purchase of a fixed income annuity contract

Payments can either begin immediately or be deferred for a period determined by the donor and declared in the contract. The payment period can be measured by one annuitant’s life (usually the donor) or by the lives of two joint and survivor annuitants (usually husband and wife). Charitable gift annuities are not issued for a fixed term of years.

The annual income is a percentage of the original gift and is based on the age of the donor at the time of the contribution. At the end of the annuitant’s life, the remaining principal benefits Hospice of Marion County.

It is important to note that unlike charitable remainder trusts, where the obligation to make payments is limited solely to the contributed assets, a charitable gift annuity is considered a general obligation of Hospice. These annuities take on many of the same characteristics as commercial annuities with Hospice acting as the insurer.

How it helps you:

  • Immediate fixed payments, which may be much higher than your current return on low-earning securities or CDs
  • Partial charitable deduction
  • Supplemental retirement income
  • Freedom from investment management
  • Avoidance of up-front capital gains taxes on long-term appreciated assets used to fund the trust

     

Disclaimer registration #: CH1781
A copy of the official registration and financial information may be obtained from the Division of Consumer Services by calling toll-free 1-800-435-7352 within the state or at www.FloridaConsumerHelp.com. Registration does not imply endorsement, approval or recommendation by the State.