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A Gift That Pays You Income

legacy

A gift that pays you income

Immediate charitable gift annuity (CGA)  if you are 65 or above

An immediate charitable gift annuity (CGA) is a contractual arrangement to pay a fixed sum of money to you at regular intervals.


Make your gift now and begin to receive a guaranteed yearly income for life right away.

You can make a gift and receive guaranteed fixed payments every year for the rest of your life.  Payments may be much higher than your return on low-earning securities or certificates of deposit.

The Maryland Zoo in Baltimore has partnered with the Baltimore Community Foundation (BCF) to offer you the option of making your legacy gift through a charitable gift annuity (CGA).  An annuity is a contractual arrangement to pay a fixed sum of money to you at regular intervals.

You will receive an immediate tax deduction and a new source of income you can count on for the rest of your life.  After your lifetime, your gift will continue to be managed by The Baltimore Community Foundation, providing income to the Zoo forever.

A charitable gift annuity offers tax benefits in addition to a guaranteed income for life and the satisfaction of making a substantial gift to The Maryland Zoo you love.


A gift annuity is for you if:

  • You want to make a significant gift and receive lifetime payments in return.
  • You like the idea of supplemental income you can’t outlive.
  • You want to maximize the payments you receive from your legacy gift — and you want to lower your income tax on those payments.
  • You want the security of payment amounts that will stay the same throughout your lifetime.
  • You appreciate the safety of your payments being a legal financial obligation of the Baltimore Community Foundation.

How it works

  • You transfer cash, securities, real estate, or other assets to the Baltimore Community Foundation for the Zoo’s benefit.
  • A contract will be set up between you and the Baltimore Community Foundation that combines immediate annuity payments to you, with a deferred charitable gift to the Zoo.
  • You receive a stream of income that stays the same, regardless of market conditions, for life.
  • You can name up to two beneficiaries to receive income.
  • After the lifetime of all beneficiaries, the balance of your gift annuity becomes part of an endowment which will generate income for The Maryland Zoo in Baltimore forever.
  • You must be at least 65 at the time of the gift to receive immediate income.
  • The minimum gift to create a charitable gift annuity is $10,000.
  • Contact us at The Maryland Zoo in Baltimore to arrange for a meeting to determine the rate that will apply to your annuity.  Gift annuity rates are partly determined by the age of the beneficiary.

Benefits

  • You can create a permanent legacy for the Zoo you care deeply about, while you receive dependable, fixed income for life in return for your gift.
  • In many cases, you will increase the yield you are currently receiving from stocks or CDs.
  • You receive an immediate income tax deduction for a portion of your gift.
  • A portion of the payments to you from your annuity will be tax-free.
  • The Baltimore Community Foundation is licensed by the State of Maryland to offer charitable gift annuities, and your annuity will be backed by BCF’s total assets of more than $190 million.

Deferred charitable gift annuity (CGA)  if you are under 65

A deferred charitable gift annuity (CGA) is a contractual arrangement to pay a fixed sum of money to you at regular intervals.


Make your gift now and start receiving guaranteed yearly income later, when you need it.

The Maryland Zoo in Baltimore has partnered with the Baltimore Community Foundation (BCF) to offer you the option of making your legacy gift through a charitable gift annuity (CGA).  An annuity is a contractual arrangement to pay a fixed sum of money to you at regular intervals.

You can make a gift to The Maryland Zoo now and receive guaranteed fixed payments every year for the rest of your life once you reach 65 years of age.  Deferred payments are higher than an immediate payment annuity, as well as many securities and CDs.  They are ideal to supplement other retirement income.

This version of the charitable gift annuity is especially designed for younger donors. Called the deferred gift annuity, it makes fixed annual payments to you and/or another beneficiary for life, with payments commencing at a future date.  Because of the deferral of income:

  • You will receive a higher income rate for these annuities than for annuities whose income starts immediately, and
  • You may receive a larger charitable income tax deduction than you could get from any other life-income gift plan.

A deferred gift annuity is for you if:

  • You are in high earnings years, looking for both income tax savings now and an additional source of revenue when you retire.
  • You want to make a significant gift to The Maryland Zoo and receive payments in return.
  • You want to maximize the payments you receive from your gift — and you want to lower your income tax on those payments.
  • You want the security of payments that will remain the same throughout your lifetime.
  • You appreciate the safety of your payments being a legal financial obligation of the Baltimore Community Foundation.
  • This version of the charitable gift annuity is especially designed for younger donors. Called the deferred gift annuity, it makes fixed annual payments to you and/or another beneficiary for life, with payments commencing at a future date.
  • Because of the deferral of income, you will receive higher income rate for these annuities than for annuities whose income starts immediately, and you may receive a larger charitable income tax deduction than you could get from any other life-income gift plan.
  • These two features make the deferred gift annuity quite attractive to donors in high-earnings years who are interested in receiving both current tax deductions and additional sources of retirement income.

How it works

  • You transfer cash or securities to the Baltimore Community Foundation for the Zoo’s benefit.
  • A contract will be set up between you and the Baltimore Community Foundation that combines deferred annuity payments to you, with a deferred charitable gift to the Zoo.
  • Beginning on a specified date in the future, BCF begins to pay you, or up to two beneficiaries you name to receive income, fixed annuity payments for life.
  • After the lifetime of all beneficiaries, the remaining balance of your gift annuity becomes part of an endowment which will generate income for The Maryland Zoo in Baltimore forever.
  • You must be at least 65 to begin receiving payments.
  • The minimum gift requirement is $10,000.
  • Contact us at The Maryland Zoo in Baltimore to arrange for a meeting to determine the rate that will apply to your annuity.  Gift annuity rates are partly determined by the age at which you choose to begin receiving payments.

Benefits

  • Deferral of payments permits a higher annuity rate and generates a larger charitable deduction.
  • You can target your annuity payments to begin when you need them, such as retirement or when a grandchild needs help with tuition payments.
  • The longer you defer payments, the higher the effective rate you will receive.
  • The Baltimore Community Foundation is licensed by the State of Maryland to offer charitable gift annuities, and your annuity will be backed by BCF’s total assets of more than $190 million.

Questions?

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Please recognize that The Maryland Zoo in Baltimroe is not in the business of giving tax advice.  Please consult your legal counsel when considering these types of gifts, and please see our full disclaimer by clicking here.