Recently, Bill, age 60, one of our dedicated donors, was advised that his present retirement income plans may not be sufficient to meet his needs in future years. Bill reviewed several financial sources of cash flow, such as CDs, money market accounts and brokerage options. He was familiar with immediate gift annuities, but learned from his son, Tom, the many advantages of deferred annuities. Tom explained that he, and many of his young friends, considered the deferred gift annuity as an excellent source to secure financial security for their futures.

      Bill funded a $10,000. five year deferred gift annuity with Cross International Catholic Outreach, which would guarantee him an annual benefit of $710, upon his attaining age 65. He was pleased to find that he would be entitled to a $3,829.80 charitable deduction in the year of the gift (any unused tax credit may be carried forward for five additional years). Bill also was pleased to know that $310.27 of his annual income would not be subject to federal income tax. Cross International Catholic Outreach could use $4,024. of this donation to immediately help the poorest of the poor. Bill felt this was "a win/win" situation for everyone.