A gift to the NBCC can also have benefits for you and your loved ones. You can receive income for life while ensuring that the critical programs NBCC provides remain supported. If you are considering this type of gift, we recommend that you consult with your financial advisor and a gift planner at the NBCC.
CHARITABLE GIFT ANNUITY
• Transfer cash or securities to the NBCC.
• The NBCC pays you or up to two designees fixed income for life.
• You also receive an income tax deduction the year you transfer assets to the trust for the charitable portion of the trust.
CHARITABLE REMAINDER TRUST
• Transfer assets to a charitable gift annuity and receive income for life.
• Maximize your donation to the NBCC while receiving tax-favored income for life.
• Your gift bypasses the estate process.
• When the trust ends, the remaining funds are transferred to the NBCC.
Jesus said to him, “If you wish to be perfect, go, sell what you have and give to the poor, and you will have treasure in heaven. Then come, follow me.” MATTHEW 19:21
A DONOR’S STORY
Michael Coleman recently retired from his position in lay ministry. He wants to make sure his estate continues the focus of his ministry to Black Catholics in his parish and the surrounding community.
After consulting his financial advisor, Mr. Coleman created a $30,000 Charitable Gift Annuity, which will provide an income for him for the rest of his life. Based on his age, he will receive a payment rate of 3.9%, which means that he will receive $1170 each year for the remainder of his life. He is also eligible for a federal income tax charitable deduction. Upon his passing, the remaining funds will help the NBCC continue its programs that carry on his legacy of outreach to Black Catholics in need.