Giving Wisely
Provide Lifetime Income to an Elderly Relative with a Charitable Gift Annuity
Do you know someone struggling to get by on a fixed income? Perhaps your widowed mother or a favorite aunt has trouble managing money? By establishing a charitable gift annuity (CGA) with the Red Cross, you can provide an elderly relative or friend with guaranteed income for life.
Ray Angelo, a Southeastern Pennsylvania Chapter board member, funded a CGA for his aunt. At first, he recalls, she did not like the idea of accepting money from her nephew. “I told her: I’m going to give the money to charity anyway. This way, you get some benefit from it.” It worked out so well, he established another for his cousin.
“It’s a GREAT vehicle,” Angelo says. “It’s safe, secure, and provides a long term benefit. Not only a monetary benefit; it also builds good feelings between the family and the Red Cross.”
Imagine: No more worrying about your parents’ welfare. No more bruising their pride by trying to get them to accept your help. Once you set up the gift annuity, the person or persons (age 65 or older) that you designate as annuitants will receive guaranteed quarterly payments for life. When the last annuitant passes away, the remaining funds go to the Red Cross.
Aside from peace of mind, you’ll receive a substantial charitable deduction on your income taxes – and the satisfaction of knowing that you have created a significant future gift to the Red Cross.
To learn more about Charitable Gift Annuities and other life-income gifts,
or to receive a personalized illustration, contact Ray Slater at (215) 299-4038, or visit www.redcross-philly.org/legacy2006.htm
