Charitable Gift Annuities
Consider a gift annuity if any of the following would be of benefit:
- Receive guaranteed fixed payments for life or a period of years
- Convert a savings account or other low-yielding asset into partially tax-free income for life.
- Transfer appreciated stock in return for lifetime payments saving income and capital gain taxes.
- Help animals who are in need of a home or medical care.
A Bideawee charitable gift annuity is a contract that allows you to make a gift to Bideawee using cash, appreciated securities or other assets, and guarantees fixed payments to you and/or a loved one for life or a term of years. Payout rates are based on age and are very attractive for older donors. A portion of your payment will be treated as a tax-free return of principal, and you will receive a charitable income tax deduction for the year of the gift. When the contract ends, Bideawee will use your gift for our work to improve the plight of animals.
Example:
Winnie Whippet has been supporting Bideawee for many years. She would like to make a larger gift, but feels she may need the income from her assets for future living expenses. Ms. Whippet learned about charitable gift annuities, and she decides to make a gift of $50,000. At her age, she will receive annual payments of $4,000, or 8% of the amount donated, for as long as she lives. In addition, she will be entitled to a charitable income tax deduction for a portion of the amount transferred. But most importantly, Ms. Whippet is satisfied knowing that she has made a significant gift to support Bideawee's mission to help animals in need.
Representative charitable gift annuity payout rates as suggested by the American Council on Gift Annuities:
| Single Life | Two Lives-Joint and Survivor |
| Age 60 - 5.7% | Ages 60 & 60 - 5.4% |
| Age 70 - 6.5% | Ages 70 & 70 - 5.9% |
| Age 80 - 8.0% | Ages 80 & 80 - 6.9% |
| Age 90 - 11.3% | Ages 90 & 90 - 9.3% |
Frequently Asked Questions
What is a charitable gift annuity?
A charitable gift annuity (CGA) is a formal contract between Bideawee and the donor. When a donor initiates a CGA, he/she makes an irrevocable gift to Bideawee and in turn is
guaranteed to receive a payment stream for the remainder of one or two lives. A CGA can also be set up to make payments for a fixed period of years.
Who can be an annuitant?
You can establish an annuity for yourself, yourself and a partner, or for one or two other people. You may only assign your right to receive payments to Bideawee.
How is the payment rate determined?
Rates are determined by the age of the annuitant(s). Bideawee follows the annuity rates suggested by the American Council on Gift Annuities, a national tax-exempt association of
charitable organizations.
How are my payments guaranteed?
State insurance laws require that we maintain a reserve fund to ensure future payments. In addition, the promise to pay the annuity is a general obligation of Bideawee, backed
by all of its assets.
You only need to complete a one page Annuity Information Form for Bideawee. Once the gift and form is received by Bideawee, we will prepare a CGA agreement for your signature.
For more information, please contact Darlene Larsen at 646.619.7231 or 866-262-8133 for more information on a charitable gift annuity. You may also send an e-mail inquiry to
plannedgifts@bideawee.org and one of our staff members will promptly respond to your request.
Our mailing address is:
Bideawee Attn: Charitable Gift Annuities, 410 East 38th Street, New York, NY 10016.
