GIFT ANNUITY - THE COUNCIL PAYS ME MONEY?

It comes as quite a surprise to many donors that, after all these years of making gifts to the BSA, there is now a way for them to get back money from the BSA.  It is a common type of a gift called a gift annuity that makes this possible for you and other donors.  

The gift annuity is simply a contract between you and Boy Scouts of America.  You make a gift of cash, stocks, bonds, or any number of other items of property.  In return, the BSA agrees to pay you a guaranteed annual annuity for the rest of your life.  If you are married, the annuity can also be paid to your spouse for life as well.  The annuity amount depends on your age -- the older you are, the larger the annuity you will receive each year.  

In addition to the annual income (part of which is often tax free, by the way), you also receive an income tax charitable deduction the year you make the gift annuity.  Your gift to the council can be large or small, and the gift annuity is very simple to create.    

One of the great things about Scouting is the way its programs merge traditional methods with innovative approaches.  Our endowment program is no exception.  Many donors are using deferred gift annuities to make their gifts to our council, while at the same time benefiting themselves and their families.  

The deferred gift annuity is very much like the standard annuity: it offers guaranteed lifetime income payable by the Boy Scouts of America to the donor, the income is partially tax free, and the donor receives an income tax charitable deduction as soon as the gift is made.  The only difference: the income is deferred to a future date of your choosing.  It is perfect for donors who want additional income at retirement, or at a time when income from other sources drops off.  

Deferring your income from the gift annuity increases your annuity amount and gives you a larger tax deduction than the regular gift annuity.  It also provides a sizeable gift to your local council to benefit Scouting in your area.  The deferred gift annuity is easy to create, and it can be created with cash or almost any kind of property.  

Contact us for more information on this and other income-producing plans that benefit you, your family, and Scouting.  We have plans that can pay you now, and plans that can pay you later.