This week we worked with a Moravian, from Arizona, to create a Deferred Gift Annuity (DGA) that will benefit 6 ministries of the Church. A DGA is often called a "charitable IRA." A donor funds a DGA today, with the promise by the Foundation to start payments at defined point down the road. By deferring when the payments begin, the donor receives a larger annual payment. Below is the link to the GiftLegacy page that will show you how a DGA works.
https://www.glpresents.com/presentscalc.jsp?WebID=GL2002-0010&sProgram=6&SSID=1E02110E81AB060D63D6E06685C833E7&host=www.giftlegacy.comThe donor will also receive a current income tax deduction. And, some portion of th eventual payment will be exempt from federal taxes. (In some states, it is free of income taxes, as well.)
It is a great way to do something charitably and to supplement your retirement income.
By the way, this is the fourth DGA this donor has established.
Paul D. McLaughlin
