"I wish more Lutherans knew about gift annuities."
That was Ted Fritz's comment after he completed the paperwork for his fourth gift annuity. Ted has been a member of St. Paul Lutheran Church in Napoleon, Ohio, for over 20 years. A spry 90, he enjoys making gifts to his favorite ministries, knowing that each will receive the residual of his gift annuities after he is called home to be with the Lord. Until then, Ted receives an 11.3% annual payout on the original principal of his gift annuity.
Ted thinks that if more Lutherans would know about gift annuities, more would eventually be distributed to the ministries that Lutherans love. Payout rates are based on the donor's age and can go as high as 11.3%. Because the donor is making an irrevocable gift (usually through stock or cash), he or she is entitled to an income tax deduction. Two-life gift annuities are available for spouses. So, when one spouse dies, the surviving spouse continues to receive the income. Payout rates are slightly less for two lives.
Ted enjoys the benefits of gift annuities and knows that his gift will ultimately benefit his favorite ministries.
Find out if a gift annuity is right for your planned giving strategy and find out how to get started here