Bud and Norma Taylor Help the
Children’s Homes with a Charitable Gift Annuity
November 2011
Bud and Norma Taylor from Tavares, Florida set up their charitable gift annuity with the Children’s Homes three years ago as a way to provide support to a ministry that is close to their heart and to receive regular guaranteed payments for the rest of their life.
Bud served in World War II in the South Pacific with the U.S. Marine Corps and then went to work for the telephone company where he worked for more than 30 years. After retiring he and Norma traveled the country in an RV helping to build churches.
Nowadays their mission activities are closer to home, which include many activities through First Baptist Church Mount Dora where they are members.
Bud and Norma openly describe the benefits of their charitable gift annuity. “The annuity has provided us with very good returns. In addition, we know that it’s going to benefit children that truly need our help.”
Is a Charitable Gift Annuity Right for You?
Imagine receiving a stream of regular payments for life in exchange for a gift to the Florida Baptist Children’s Homes. That’s how a charitable gift annuity works!
A charitable gift annuity is an agreement through which a donor provides cash or securities to the Children’s Homes. In exchange, they or their designated beneficiary is provided with a stream of regular payments for life. At the donor’s death, the remaining balance of the gift goes to support the work of the Children’s Homes.
Who can purchase a charitable gift annuity?
Anyone can purchase a charitable gift annuity, but it is usually an attractive investment for those 60 years of age and older.
How are the annuity rates determined?
The rates for a charitable gift annuity are based on the life expectancy of the donor(s). Generally, the older the donor(s) the higher the annuity rate will be. In addition, the rate on a two-person annuity will be lower than a one-person annuity.
The Children’s Homes follows the rates recommended by the American Council on Gift Annuities. The annuity rates often provide a better return than many other types of investments.
How often are annuity payments provided?
Annuity payments can be made monthly, quarterly, semi-annually, or annually.
What is the minimum annuity that can be purchased?
We require charitable gift annuities to be at least $5,000 or more.
What are some of the benefits of a charitable gift annuity?
- It’s an opportunity to provide a significant gift to the Children’s Homes.
- It can provide lifetime payments to one or more persons at competitive investment rates.
- You cannot “outlive” a charitable gift annuity.
- Part of the regular payment (income) will be tax free.
- A charitable income tax deduction is allowable in the year the annuity is established.
Contact us for more information.
For more information about a charitable gift annuity contact Julie Boyd at (863) 687-8811 or Julie.Boyd@FBCHomes.org.
