Gifts that pay income
Some charitable gifts pay you income, including Charitable Gift Annuities and Charitable Remainder Trusts.
Potential benefits of gifts that pay income:
- Receive lifetime income and tax benefits
- Boost retirement income
- Reduce tax liability
- Bring material aid and spiritual care to people in need as part of your legacy
How it works
Charitable gift annuities
In exchange for a gift of at least $20,000, you will receive fixed annual payments at an attractive rate for as long as you live, along with an immediate income tax deduction.
- Gift annuities pay income to one, or two, income beneficiaries and can be funded with cash or stock
- Naming Franciscan Mission Associates (FMA) as the remainder beneficiary of your gift annuity will ensure that, when your gift annuity ends, the remainder will be distributed to FMA and contribute to our mission
Sample rates for a one-life gift annuity as of January 1, 2024:
| Current Age | 65 | 70 | 75 | 80 | 85 | 90 |
| Rate | 5.7% | 6.3% | 7.0% | 8.1% | 9.1% | 10.1% |
A legacy IRA
Many IRA owners, 70 ½ or older, can now make a one-time, lifetime Qualified Charitable Distribution (QCD) of up to $50,000 in exchange for a charitable gift annuity.
- Boost your retirement income and provide future support to sustain our work
- This QCD is a tax-free transfer and will count toward your RMD (for IRA owners of RMD age)
Charitable remainder trusts
Charitable Remainder Trusts (CRTs) convert assets into income for one or more income beneficiaries. They can pay income for a term of years or for the lifetimes of the income beneficiaries.
- Donors who fund a CRT with a gift of appreciated assets, such as stock or real estate, do not pay capital gains tax when those assets are sold to fund their trust.
- Donors receive an immediate income tax deduction when their trust is created, and assets transferred to a CRT are removed from a donor’s taxable estate.
- When the trust term ends, the remainder is distributed to qualified public charities, like FMA, named by the donor as the remainder beneficiaries.
Join the FMA Legacy Society
When you make a legacy gift to FMA, you will join other donors whose legacy gifts help sustain our ministries and missions and transform lives.
To learn more about the Legacy Society and the difference your legacy gift can make for people in need, please contact us.
leavealegacy@franciscanmissionassoc.org
Tel.: 914-664-5604
“Legacy Giving allows the Franciscan Friars to carry forward the mission of St. Francis, touching lives with compassion and faith. Your generosity ensures that our work in education, healthcare, and spiritual care continues to grow. Together, we create lasting change for future generations in need.“
Fr. Robert, OFM
Legacy giving information is for educational purposes only and is not intended as financial, legal, or tax advice. Please consult with qualified advisors about your unique situation.
