A Gift that Gives Back… For Life
Did you know that you can make a lasting difference in the lives of our monks and seminarians while also receiving a steady income for life? By creating a charitable gift annuity, you can support the mission of Conception Abbey and Conception Seminary College while also benefiting yourself or a loved one.
A charitable gift annuity is a simple arrangement. By making a gift of $10,000 or more, you—or someone you love—would receive income for life at a rate that will never change. Part of your gift may be tax-deductible, and in many cases, a portion of your payments will be tax-free. Your payment rate is based on your age (minimum age is 60) and will never change.
A gift annuity allows you to support the many ministries of our monastic community, while also benefiting from a reliable income stream for yourself.
For example, a gift of $10,000 would provide the following annual payments for one annuitant:
|
Age |
Annuity Rate |
Annual Annuity Amount |
|
60 |
5.2% |
$520 |
|
65 |
5.7% |
$570 |
|
70 |
6.3% |
$630 |
|
75 |
7.0% |
$700 |
|
80 |
8.1% |
$810 |
|
85 |
9.1% |
$910 |
| 90+ | 10.1% | $1,010 |
There are also several flexible ways to set up a charitable gift annuity. If you’d like to support someone else, such as a parent or caregiver, you can name them as the beneficiary of the annuity. If you prefer to begin receiving payments later, you can defer the start date and receive a higher payout when it begins. If you’re 70½ or older, you may even be able to use assets from your IRA to fund an annuity, but special rules apply, so please contact us for details.
Perhaps most importantly, your generosity supports the work of our community—our life of prayer, hospitality, and the education of future priests. For more information about how a charitable gift annuity can help both you and our abbey and seminary, please contact Christopher Brite in our Planned Giving Office at cbrite@conception.edu or 660-944-2825.
