Gifts that can provide income to you now and support FGC in the future
You don’t have to be wealthy to make a significant gift to Friends General Conference. Incentives in the IRS tax code make it possible to make a gift that provides financial security for you and long term benefits to FGC.
A charitable gift annuity enables you to transfer cash or marketable securities in exchange for fixed quarterly payments to you, and/or another beneficiary you name, for life. Annuity payments can begin immediately or can be deferred to some future date. When you invest in a FGC charitable gift annuity, you receive a charitable tax deduction at the time of the gift. Some of the income you receive will be tax-exempt as well.
At your death (or the death of the second beneficiary), FGC will receive the remaining principal which is usually about half of the original annuity amount. This long-term gift helps to assure the future of FGC’s many programs and services to meetings and Friends.
The minimum gift to establish an FGC charitable gift annuity is $5,000. The minimum age for the annuitant/income beneficiary is 50. The amount of the payment depends on your age, the size of the gift, and whether the annuity is for the lifetimes of one or two persons (annuitants). FGC would be glad to provide information on the monthly payments you might receive based on the size of the annuity and the birth dates of the annuitants(s). The Friends Fiduciary Corporation in Philadelphia, which provides socially responsible investing and trusteeship for Quaker funds, administers these annuities for Friends General Conference. Contact us to learn more.
Trusts
There are several forms of charitable trusts that can provide you and your beneficiaries income for life, while supporting FGC’s Stoking the Spiritual fire of Quakerism Campaign. Trusts are surprisingly flexible, easy to establish, and full of advantages to you and your heirs. Trusts require a minimum tax-deductible outlay of $75,000, but they can be structured in a variety of ways to maximize tax advantages and benefits to you and your family. We would be happy to speak with you about particular trust options. Contact us to learn more.
One common form of trust is a charitable remainder unitrust, a separately invested and managed charitable trust that pays a percentage of the principal, re-valued annually, to you, your spouse, or other income beneficiaries for life or a maximum term of 20 years. You receive a charitable income tax deduction for a portion of any gift you make to the trust. You can make additional gifts to the trust at any time and qualify for additional tax deductions. After the unitrust terminates, the accumulated principal or "remainder interest" goes to FGC and can include portions to other charities.
