Like many, you may depend upon income from bank CDs and other fixed income investments and wish interest rates were higher. Also, you may be interested in providing a financial benefit to WRBC, but do not feel you can give up the income from your cash investments.
There is a simple SOLUTION to your need for more income and your charitable intent; it is a Charitable Gift Annuity (CGA) offered by the Kentucky Baptist Foundation (KBF).
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A CGA is an agreement between you and the KBF under which in exchange for your gift to the KBF of cash or appreciated securities with a value of at least $5,000, the KBF agrees to pay you a fixed amount for the rest of your life. The rate depends upon your age. The older you are the higher the rate.
The portion not needed to make lifetime payments will be available to WRBC at your death and become part of your lasting legacy.
Current single life rate examples are age 55 = 4.1%; 60 = 4.5; 65 = 4.8%; 70 = 5.3%; 75 = 6.0%; 80 = 7.0%; 85 = 8.5%; 90+ = 9.1%.
