December 19, 2022

Increased Rates for Charitable Gift Annuities in 2023

The true spirit of philanthropy – the desire to give to perpetuate a specific work – is at the heart of the support offered each day by our generous friends and donors. Our community is amazing, and we are always looking for opportunities to make it easier to give back to Kline Galland.

That’s why we are pleased to share our Charitable Gift Annuity (CGA) program. The CGA is a planning instrument that makes it possible for you to make a charitable gift and receive attractive annuity payments. When you make a gift to fund a life income arrangement, the benefits include lifetime payments and tax savings. After you receive all payments, what remains goes to help further our cause. 

The returned benefits of life income plans include:

  • Lifetime tax-free benefits for you (and/or your spouse)
  • An income tax deduction this year
  • Capital gains tax savings when funded with appreciated assets
  • A way to create a legacy and help further our mission

Charitable gift annuity rates will increase, on average, by approximately 0.6% depending on the age of the annuitant. The new suggested maximum rates will go into effect Jan. 1, 2023 – and could make 2023 the year of the CGA. 

Our online calculator tool will show you a personalized forecast for your annuity gift. If you would like to learn more about how a Charitable Gift Annuity (CGA) might be beneficial for your financial needs, please contact us so we can provide a complimentary illustration detailing how this gift might work for you.

Nate Nusbaum
Chief Philanthropy Officer
(206) 456-9702