Giving through a charitable gift annuity allows you to arrange a generous gift to Galesburg Community Foundation while providing yourself a new income source you can count on for the rest of your life.
Income from your charitable gift annuity may add up to more than the interest and dividends you earned from holding the assets. You can use this income to supplement your own lifestyle or that of someone else: a sibling, a dependent parent, a friend, or a former employee.
You or a loved one can start receiving annuity payments immediately or defer them to increase your charitable income tax deduction. A portion of the income may be a tax-free return of principal, while some is taxed as ordinary income or capital gains. The amount of annuity paid and the tax deduction received depends on the age of the recipient and the current annuity rate (as established by the American Council on Gift Annuities).
To learn more about how you can have a positive impact on the community while providing yourself a new income source you can count on for the rest of your life, call Sarah Grant, Director of Development, at 309.344.8898.
Charitable Giving Coordinator
Haley provides support to enhance the function and success of the Charitable Giving and Affiliate Teams. She ensures donors receive a personal approach to philanthropy through outstanding customer service by supporting charitable giving for donors and fund holders across the state.