Gifts That Pay Income
Article Type: Ask a Planner
Q. I've heard there are ways I can give to ministry and receive income for life. Is that true?
A. Yes! Through a life income gift, such as a charitable gift annuity or a charitable remainder trust, you can support the important work of your church or favorite ministry AND receive payments for life. A planner from Barnabas Foundation can help you identify which giving option is the right fit for your goals and situation.
Q. How much income will I receive from a charitable gift annuity?
A. It depends on your age and the original gift amount. Each year (or quarter) you’ll receive a percentage of your original gift.
The older you are when you begin a gift annuity, the higher the percentage—and the bigger the payment.
For example, if you’re a single 70-year-old, you’ll receive a payment rate of 5.1% of your gift for the rest of your life. The rate for a single 80-year-old is currently 6.9%. Barnabas Foundation follows the recommended rates set by the American Council on Gift Annuities.*
For answers to these and other frequently asked questions, contact us.
*Updated to reflect the current annuity rates as of November 2019.