Charitable Gift Annuity
We understand that taking care of yourself and your loved ones is a significant consideration when planning your charitable gift. For that reason the Diocese of Lafayette offers the Catholic Gift Annuity program in partnership with Catholic Extension Society.
A charitable gift annuity is a simple contract. You make a gift to Catholic Gift Annuity, and in return, you receive fixed payments for life. At your death, the remaining balance of the gift annuity is distributed to the Diocese of Lafayette or to the Catholic organizations or endowments that you designated.
- Fixed payments for life, a portion of which are tax free
- An income tax deduction for a portion of your gift per IRS rules
- A financially strong program that helps the Catholic Church in partnership with thousands of other Catholics
How a charitable gift annuity works
A charitable gift annuity is a way to make a gift to support Society of the Roman Catholic Church of the Diocese of Lafayette.
- You transfer cash or property to Society of the Roman Catholic Church of the Diocese of Lafayette.
- In exchange, we promise to pay fixed payments to you for life. The payment can be quite high depending on your age, and a portion of each payment may even be tax-free.
- You will receive a charitable income tax deduction for the gift portion of the annuity.
- You also receive satisfaction, knowing that you will be helping further our mission.
To learn more about the Catholic Gift Annuity program, click here.
If you have any questions about charitable gift annuities, please contact us. We would be happy to assist you and answer your questions.
Current charitable gift annuity (payments begin within one year). With a current gift annuity, you may transfer cash or property in exchange for our promise to pay you fixed payments beginning as early as this year. You will receive an income tax charitable deduction this year for the value of your gift to Society of the Roman Catholic Church of the Diocese of Lafayette.
Deferred charitable gift annuity (for payments at future date). Perhaps you are not ready to begin receiving payments until a future date, such as when you retire. With a deferred gift annuity, you establish the gift annuity today, receive a charitable income tax deduction this year, but defer the payments until a designated date sometime in the future. Best of all, because you deferred the payments, your annual payment will be higher when the payments start than they would have been with a current gift annuity.
Flexible deferred charitable gift annuity (gives you flexibility as to when the payments will start). With a flexible deferred gift annuity, you retain the flexibility to decide when the annuity will begin making payments. As with a deferred gift annuity, you establish the annuity today and receive a charitable deduction this year, but the payments are deferred until such time as you elect to begin receiving the payments.