Charitable Gift Annuities



  • Why Consider at Charitable Gift Annunity
    Bideawee suggests reviewing all of the options that Bidawee offers donors before choosing the correct one for you. If any of the following are important to you then the Bideawee Charitable Gift Annuity is a giving tool that may work best for you:
    • 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.
  • Example of a Charitable Gift Annunity

    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%

  • FAQs

    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.

    What type of paperwork do I need to complete?
    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.