Friends General Conference

Nurturing faith and Quaker practice

Life Income Gifts

A life income plan with FGC allows you to make a gift to FGC and get income for yourself or loved ones from the assets. How do we do it? The proceeds from your gift are invested for as long as you are living. The income is paid to you or your designated beneficiaries. FGC receives all or a portion of the remainder of the assets at your death.

Establishing a life income plan with FGC is easy. You simply make the donation, and we take care of the rest. Contact FGC today to select the plan that best fits your needs.

Access more information on each option by downloading the files found at the bottom of the page!

Charitable Gift Annuities

A Charitable Gift Annuity is a contract between you and Friends Fiduciary Corporation (acting as a financial intermediary) which allows you to give a gift to Friends General Conference. In return, you receive annuity payments at a fixed rate for the rest of your life. Depending upon your level of donation and age, the fixed income can be quite high. In addition, you get substantial tax savings. You can also make of a gift of appreciated securities to fund a gift annuity and avoid a portion of the capital gains tax.

Most people can deduct a significant part of their gift right away. Plus, part of the annuity payments you receive may be tax-free. Above all, you also get the satisfaction of knowing that your gift will nurture the future of Quakerism.

Setting up a gift annuity is easy. All you need to do is fill out a simple form (the Charitable Gift Annuity Application found at the bottom of this page) and write a check – we take care of the rest. There are no legal fees to contend with.
 
Another option that can boost your income and support loved ones:

Tuition Gift Annuity

The Tuition Gift Fixed Annuity is an ideal way for parents, grandparents, other family members or friends to ensure that a special young person has money for college. To establish a Tuition Gift Fixed Annuity, you make a charitable contribution to FGC today (minimum amount of $5,000 for Tuition Gift Annuities) and at a predetermined time in the future, the earnings help to pay a student’s college tuition.


Charitable Trusts

A charitable trust is an arrangement between a donor and Friends General Conference wherein cash or property is contributed to FGC to fund a trust and the donor or their beneficiary receives income during their lifetime, or a bulk payment upon their death. Trusts often provide good tax benefits and the donor may give property which can still be used while they are living.

With some trusts, FGC will receive the principal after the beneficiaries have enjoyed income for a number of years. All trusts provide tax breaks of one kind or another. For example, if a trust is funded with appreciated real estate or an item of tangible value (art, gems, etc.), the asset is free of any estate or capital gains taxes. Furthermore, there may also be a tax deduction on any remaining interest trust has earned. If you are considering a trust gift, it would be best that you consult with our Stewardship Services Department so we can help match the best vehicle to your specific circumstances.

Here are some examples of various trusts that donors have found helpful:

Charitable Remainder Unitrust

With a Charitable Remainder Unitrust, you can receive lifetime income, get an immediate tax deduction, avoid capital gains tax, and minimize estate taxes.

Charitable Remainder Annuity Unitrust

With a Charitable Remainder Annuity Trust you transfer your cash or appreciated property to fund a charitable trust supporting FGC. The trust sells your property tax free and provides you with fixed income for life or a term of years.

Charitable Lead Trust

With a charitable lead trust, you can use an income-producing asset to support charity and save taxes. Your family receives the remainder at substantial tax savings. These trusts pay income to FGC for a predetermined period of time that you select. You pay no tax on the income. The trust principal is then paid to your beneficiaries.

Asset Sale and Charitable Remainder Unitrust

You can receive cash and income for life if you give a portion of your property to us to fund a charitable remainder trust. Appreciated assets (such as investments or real estate) that are producing little or no income can be a great way to fund a contribution to FGC.  If you sell your appreciated assets, you will pay a large capital gains tax, but a sale and Charitable Remainder Unitrust may be the solution.

By establishing a life income plan, you receive payments for the rest of your life. You can also choose to receive payments yourself or jointly with a spouse, or designate someone else as the recipient. Depending on the plan you choose, you can also realize significant tax savings. But, perhaps most of all, you also receive the joy and satisfaction of knowing that your gift will support FGC.

 


Friends General Conference will be glad to answer any questions you may have regarding planned giving.  Our Stewardship Services Program, in partnership with Friends Fiduciary Corporation and Everence, will be pleased to work with you to create a plan that balances your financial and philanthropic goals.  The results of such planning can provide you and your loved ones with many benefits and have a lasting impact on FGC and other charities of your choice. 

Everence is a Mennonite financial services organization.  FGC and Everence are working in partnership through FGC’s Stewardship Services Program to provide a wide range of estate and financial planning services to Friends.

FGC is not a financial, legal or tax advisor. Please consult with your own advisors regarding your financial, legal, or tax needs to make certain that a contemplated gift fits well into your overall circumstances and planning. The discussion and examples in this section are for illustrative and educational purposes only and are not a solicitation or offer.

The contents of this page were made available to FGC in whole or in part by Everence. © 2012 Everence

Interested in learning more?

Contact Larry Jalowiec, FGC's Director of Stewardship Services,
at 215-588-4203 (cell) or plannedgiving@fgcquaker.org

He will be happy to assist you!