Frequently Asked Questions
How does a Charitable Gift Annuity work?
1. You make a gift to Packard Children's
2. You receive an immediate tax benefit
3. We invest your gift
4. We pay you a fixed percentage of the original gift for the rest of your life
5. We use the remainder to fund the area of your choice
How is the rate of payout determined?
We use the rates recommended by the American Council on Gift Annuities, which are redetermined periodically. The rates are based on your age and the number of annuitants. Rates are higher for older annuitants, which makes annuities appealing to older donors. Contact us for a personalized illustration and to see if a Charitable Gift Annuity is right for you.
Can I defer the date that I will start to receive income and still get my income tax deduction?
Deferred Charitable Gift Annuities allow you to receive immediate tax benefits from donating cash or appreciated assets, and receive a set dollar amount for the rest of your life starting at a date of your choice. The longer you defer your start date, the higher the payout amount.