Charitable Gift Annuities

There's a way for you to support the Diocese of Sioux City or one of its entities while feeling confident that you will 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 the Diocese of Sioux City and we, in return, agree to pay you a fixed amount each year for the rest of your life.  The balance is used to support our ministries.

This type of donation can provide you with regular payments for life and allow the Diocese of Sioux City to furthur our mission.  You can also qualify for a variety of tax benefits depending on how you fund your gift.

If you fund your gift annuity with cash or appreciated property, you qualify for a federal income tax deduction if you itemize.  In addition, you can minimize capital gains taxes when you fund your gift with appreciated property.

And now, you can fund your gift using your IRA assets.  If you are 701/2  and older, you can make a one-time election of up to $53,000 to fund a gift annuity.  While your gift does not qualify for an income tax deduction, it does escape income tax liability on the transfer and count toward all or part of your required minimum distributions.

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.

George, 71,  wants to make a contribution to his parish, St. Mary's but he also wants to ensure he has dependable income during his retirement years.  He funds a $10,000 charitable gift annuity with cash.

Based on his age, Geroge will receive a payment rate of 6.4% which means he will receive $640 each year for the remainder of his life.  He is also eligible for a federal income tax charitable deduction of $3,847* when he itemizes.
 

• Your local parish
• Your Catholic school
• Seminarians
• St. Joseph Education Fund
• Preist Pension Fund
• Priest Welfare Fund
• Catholic School Foundation
• Catholic Charities
• Holy Spirit Retirement Home
• Marian Home & Marian Village
• Diocese of Sioux City
• Bishop's Circle

• Cash
• Appreciated Securities
• Closely Held Stock
• Real Estate
• Tangible Personal Property
• IRA Assets

We would be happy to send you a free, no obligation calculation showing you the increased benefits you can receive from a gift annuity.  Your personalized calculation will include your potential income tax charitable deduction and our annual payments to you for life.  

Contact John Schmitz at 712-233-7513 or johns@scdiocese.org to begin.