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Having Your Cake and Eating It

How would you like to have a steady, dependable flow of income for the rest of your life? And at the same time, how would you like to make a significant gift to your favorite charity?

Impossible? Not at all. Charitable Gift Annuities make it possible to have your cake and eat it too.

Here’s an example of how it works: Mr. and Mrs. Cakelover contribute $25,000 to a charity they favor in exchange for a charitable gift annuity. The gift annuity, in their case, pays an annual rate of 7.0 percent. Consequently, they receive an annual payment of $1,750.

This payment is not based on the economic conditions of Wall Street, nor is it dependent on how much the charity received from other contributions. It is a locked- in annual payment based on their age, underwritten by the assets of the charity.

The charity keeps the $25,000 in a special fund and pays income to both Mr. and Mrs. Cakelover until they are gone. Then the charity uses the remaining amount to help carry out its mission.

Imagine making a gift and receiving payments for life! It seems too good to be true. But there are many thousands of donors across the country who have discovered that such a wonderful thing actually does exist.

I’d be glad to provide complementary information on how a charitable gift annuity can work for you, including a personalized and confidential gift annuity illustration. If you would like to talk about this over the phone, feel free to call me at 614-338-2365.

Jackie Jacobs is the Executive Director of the Columbus Jewish Foundation, the Central Ohio Jewish community’s planned giving and endowment headquarters.

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