Charitable Gift Annuity
Put simply, Charitable Gift Annuities allow you to donate assets to a charity while receiving fixed income payments for life. They offer tax benefits and a way to support a cause you care about.
A charitable gift annuity involves a simple contract in which you agree to make a gift to Habitat for Humanity and we, in return, agree to pay you – and/or someone else if you choose – a fixed amount each year for the rest of your life.
Your charitable gift annuity is set aside in a reserve account and invested. Based on your age(s) at the time of the gift, you receive a fixed monthly or quarterly payout (typically supported by the investment account) for the rest of your life. At the end of your life (as well as your spouse’s life, if you’re giving as a couple), Habitat St. Johns will receive the remainder of the gift. Annuity rates vary by age and number of annuitants.
This gift provides you with regular payments and allows us to further our work. Creating a charitable gift annuity with Habitat St. Johns may also provide a variety of tax benefits. Your gift will qualify for a federal income tax deduction, and a portion of your payments will be tax-free income. If you fund your annuity with appreciated property rather than cash, you may minimize capital gains. Gains that you do pay are deferred and paid over your lifetime (provided that you are the primary annuitant).
Delay Your Payments
If you are between the ages of 55 and 64 or do not need your payments immediately, you can set up a deferred gift annuity. This allows you to delay payments to you until a later date, such as when you reach retirement. Deferring payments may also provide a higher rate of return on your future income.
Please use the following if you wish to make Habitat St. Johns a beneficiary:
- Legal name: Habitat for Humanity of St. Johns County
- Address: 7 Hopkins Street, St. Augustine, FL 32084
- Tax ID Number: 59-3129794
Other Ways to Give Through Your Estate
Secure Your Legacy
The first step is to curate a plan. A plan allows you to determine how your assets, property, and personal belongings are distributed among your beneficiaries. It ensures that your hard-earned wealth goes to the people or causes that matter most to you, including Habitat St. Johns. Simply put, Planned Giving ensures your charitable legacy complements your estate plans and supports your family while creating maximum impact in the community.
Be sure to consult your team of professionals for guidance—estate planning attorneys, accountants, and financial and tax advisors who can walk you through the process and keep you informed, according to the plan you devise.
Finally, discuss your plans with loved ones and financial professionals. It is important that your family feels included and aware of your giving plans. Knowing that your wishes are documented and legally binding provides you with the reassurance that your beneficiaries will be taken care of according to your instructions, providing loved ones with peace of mind during tough times.
If you or your attorney would like Habitat St. Johns to provide you with customized beneficiary language that is specific to your goals and interest, please contact Tom Torretta at [email protected] or 904-826-3252 x2001. Please call or email so we can assist you through every step of the process.
If you believe strongly in the work we are doing and want to be a part of our future success, we encourage you to consider Habitat of Humanity of St. Johns County when you are doing your estate planning.
Thank you for your kindness and for caring about the hardworking individuals and families in our community who will benefit from your generosity!
