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Share In Asia
Gift Annuities are a great financial provision for older persons.
- They guarantee regular payments for the donor's lifetime.
- A portion of your payments are tax free for several years.
- You receive a charitable gift tax deduction the year you make your annuity gift.
- You enjoy guaranteed financial security for life, with no worries about market conditions.
- And when you go to be with the Lord, the remaining balance of your gift will be used for His work ó without probate delay or legal expenses.
Gift Annuities Provide High Income for Life, Tax Advantages, and Eventually, Support for Godís Work.
Many older Christians want to give a portion of their estate to the Lordís work, but they prefer giving it while theyíre still living. And since they donít know what the future holds, they need to have income to live on until they go to be with the Lord.
The Gift Annuity Answers their need
When Share In Asia receives your annuity gift, we don't spend the money. The full amount is invested within the Annuity Trust Fund to earn income and provide payments to you. Only when you depart this life and go to be with the Lord will the remaining balance be used for missionary work overseas.
How Gift Annuities work
First, you request an Annuity Application Form from Share In Asia. Then you send a gift (cash, mutual funds, or listed securities) of $5,000 or more to Share In Asia, together with the Application Form. Our staff will send you an Annuity Agreement along with a Gift Annuity Certificate which guarantees payments to you for the rest of your life. The rate of the payments is based on your age at the time of your gift. The older you are, the larger your payments. They may be sent annually, quarterly, or even monthly, except that no payments can be made for amounts less than $200, except annually.
How much is tax deductible?
You may claim a tax deduction for the current year (up to 30% of your total gift) and a percentage of your annual payments are free of income taxes for several years. These amounts are derived by our accountant from figures provided by the Internal Revenue Service for non-profit organizations.
Are there different kinds of annuities?
Yes. There is the Single Life, with one person only named in the agreement. The rate of payment is based on the person's age. Then there is the Joint (Survivorship) Annuity in which two persons receive payments jointly. Rates are somewhat less, based largely on the age of the younger person. When one passes on, the survivor continues to receive full payment for life.
Are there limits on the amount I can contribute?
Yes, First, you must be at least 65 years of age. Second, the minimum gift is $5,000. Each annuity must be at least that much. But there is no maximum limit as to the amount. Several couples have given over $200,000 to charities as gift annuties. Some have found that when they sold their home, the tax deduction from an annuity gift served to offset capital gains tax on the sale of the house.
What about safety and security?
Share In Asia is responsible and conservative in financial matters. The Mission has no debt or mortgages on its properties. Share In Asia will hold those gifts in the Annuity Trust Fund. That fund is used exclusively to provide annual payments for annuitants. When one of them departs this life, the remaining balance of his or her annuity gift can be used for pioneer missionary work among unreached people.
Write or call 425-889-9587, or email firstname.lastname@example.org to request an application form.
As soon as your application and gift are received by Share In Asia, the Gift Annuity Agreement and Certificate will be sent to you. Payments are guaranteed to you for the rest of your life.