Recently, two of our longtime donors, Jim, age 70, and his wife, Joan, age 71, funded a $100,00 charitable gift annuity for the benefit of the poorest of the poor that guaranteed a rate of 5.2%, or $5,200 guaranteed annually for both of their lives. Jim and Joan were pleased to learn that $3,426.80 of their annual annuity income would not be subject to federal income tax. They were also happy to know that they would enjoy the benefit of a $31,130 charitable tax deduction for this donation (any unused tax credit may be carried forward for five additional years). Because of these tax benefits, Jim and Joan realized that their effective rate of return was significantly greater than 5.2%!

      Most importantly, Jim and Joan were pleased that Cross International Catholic Outreach was able to immediately use $24,750 of their gift to complete several food, water, and medical projects that they personally had supported over the years. Giving such a meaningful charitable gift was beyond their wildest dreams! Jim and Joan were able to experience the tangible results of their gift to Cross International Catholic Outreach while they were still alive, and yet be guaranteed that their annuity benefit payments would continue as long as they live. As Jim and Joan observed, "This program is a 'Give and Gain' situation for everyone!"