There are many Life Income Gift Vehicles available to donors through The Foundation of the Diocese of Raleigh as authorized by the Internal Revenue Code. The specific gift vehicle selected by the donor with respective tax advantages should always be based upon the donor’s charitable desire and per advice of their financial advisor. The following represents two simple examples.
Charitable Gift Annuity
A Charitable Gift Annuity is acontractbetween a donor and The Foundation. The donor makes a gift to The Foundation which agrees to pay a specified income to the donor for life. It is legally binding and is payable from the general assets of The Foundation. The payout rates for a “Single Life Annuity” or “Two Life Annuity” agreement do not exceed those suggested by the American Council on Gift Annuities as updated on their website, https://www.acga-web.org/current-gift-annuity-rates.The payout rates range depending upon the annuitant’s age.
You receive an immediate income stream for the rest of .your life.
You earn an immediate tax deduction
A portion of the payout is tax-free.
Furthering the mission of your parish or favorite apostolate.
Charitable Remainder Trust
Another way to support your chosen parish, school or Diocesan ministry, while collecting a steady stream of income, is to establish a Charitable Remainder Trust, or CRT.
A Charitable Remainder Trust is a trustdesigned to pay an annual income to one or more individuals for a term of years, or for the lives of those individuals in an amount equal to a fixed percentage OR fixed dollar amount of the value of trust assets. The amount of each payment to the beneficiaries may vary based on fluctuations in the value of the trust as determined on an annual basis. After a pre-determined timeframe, OR upon the death of the beneficiaries, the assets of the trust are transferred to The Foundation for the charitable purposes specified by the donor. The minimum payout rate to the individual(s) is 5 percent by law.
Provide for professional investment and management of assets.
Avoid probate administration of assets at death as required for a disposition by will.
Prevent loss of trust assets by spendthrift beneficiaries or their creditors.
Provide income and/or principal to support charitable organizations.
Plan for disposition of assets to children, loved ones, charity, and others over time.
THE FOUNDATION of the ROMAN CATHOLIC DIOCESE OF RALEIGH, INC.
4700 Homewood Court, Suite 320 Raleigh, North Carolina, 27609 Phone: 919/568-1065 Fax: 919/568-3241 info@FoundationDOR.org
If you would like to be contacted by our Planned Giving Specialist, Ryan Flood, please click on the link below to complete a contact form.