More for
Your Money
Charitable Gift Annuity Interest Rates
to be Cut
If you are considering
or have been advised to establish a charitable
gift annuity and would like to support Hattie
Larlham, you may want to do so before July
1, 2008.
Like other reputable nonprofits,
Hattie Larlham follows the rates set by
the American
Council on Gift Annuities. On April
2, 2008, the council announced new suggested
interest rates effective July 1, 2008.
This means charitable
gift annuities set up before the rate reduction
will earn more interest for you.
Currently, the interest
rate for a single life annuitant age 65
is 6 percent. For an annuitant age 70, the
rate is 6.5 percent; age 75, 7.1 percent.
After July 1, 2008, these
rates, respectively, will drop to 5.7 percent,
6.1 percent and 6.7 percent. Rates for joint
and survivor annuities will be reduced as
well.
Charitable gift annuities
are a wonderful way to provide a lifetime
of income and help Hattie Larlham at the
same time. They are a great option for individual
donors as well as couples.
A charitable gift annuity
is a simple contract in which you exchange
a gift of cash or securities for a fixed
income each year for the rest of your life
(or two lives). Part of what you transfer
is a tax-deductible charitable gift and
part of your payment is a tax-free return
of principal. The minimum amount for a charitable
gift annuity is $10,000.
Learn more about charitable
gift annuities, bequests
and other ways
to give that support Hattie Larlham.
To learn more about the
interest rate changes or to set up your
charitable gift annuity, contact Stuart
J. Kleiner, J.D., associate director of
planned giving, at 800.233.8611, ext. 3147,
or stuart.kleiner@hattielarlham.org. |