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There is a way for you to support Gleaners Community Food Bank and feel confident that you have dependable income in your retirement years. You can do this with a charitable gift annuity.
With a charitable gift annuity you agree to make a gift to Gleaners and we, in return, agree to pay you (and someone else, if you choose) a fixed amount each year for the rest of your life. The balance is used to support our work.
This type of donation can provide you with regular payments for life and allow Gleaners to further our mission. You can also qualify for a variety of tax benefits, including a federal income tax charitable deduction if you itemize.
Your payments depend on your age at the time of the donation. If you are younger than 60, we recommend that you learn more about your options and download this FREE guide Deferred Gift Annuities: Plan Now, Benefit Later.
Dennis, 75, and Mary, 73, want to make a contribution to Gleaners but they also want to ensure that they have dependable income during their retirement years. They fund a $25,000 charitable gift annuity with appreciated stock that they originally purchased for $10,000.
Based on their ages, they will receive a payment rate of 4.5%, which means that they will receive $1,125 each year for the remainder of their lives. They are also eligible for a federal income tax charitable deduction of $9,156* when they itemize. Finally, they know that after their lifetimes, the remaining amount will be used to support our mission.
*Based on a 1.2% charitable midterm federal rate. Deductions and calculations will vary depending on your personal circumstances.
Input a few details and see how a charitable gift annuity can benefit you.
Legal name: Gleaners Community Food Bank Inc. of Southeastern Michigan
Address: 2131 Beaufait, Detroit, MI 48207
Federal tax ID number: 38-2156255
Learn more about the many benefits of a charitable gift annuity in our FREE guide Charitable Gift Annuities: Gifts That Give Back.View My Guide