Gifts That Pay You Income - Archdiocese of Chicago

Gifts That Pay You Income

You can bring Christ to the world through spiritual renewal, academic excellence rooted in our Catholic faith and parish-based outreach ministries to the more than 2 million Catholics and community members who reside in Cook and Lake counties.

Gifts That Pay You Income

Charitable Gift Annuities

Charitable gift annuities (CGAs) offer tax benefits and a secure, fixed payment stream for yourself and/or a loved one for your lifetime(s). The remaining balance is used to support your parish and/or the Archdiocese of Chicago – as designated by you.

How it works:

  • You donate cash or appreciated securities worth $10,000 or more to your parish and/or the Archdiocese of Chicago. In return, you and/or a loved one age 60 or older will receive fixed payments for life.
  • Your payment rate is based on your age (payments start at age 60 or later) and will never change.
  • A portion of your payments will be tax-free.
  • The older you are — or the longer you defer starting your payment — the higher your payment rate will be.

Benefits to you include:

  • Lifetime payments that will never change.
  • Capital gains tax savings when you fund your CGA using appreciated stock.
  • You are eligible for an immediate charitable income tax deduction.
  • Your gift passes to your parish and/or the Archdiocese of Chicago outside of the estate process.
  • You establish a legacy gift that will advance God’s work and serve the future needs of our community within the Archdiocese of Chicago.
  • You will be welcomed as a member of the Lumen Legacy Society – our way of thanking you for your generosity.

A deferred charitable gift annuity allows you to postpone the first payment to a date of your choice. With a deferred gift annuity, you establish the gift annuity today, receive an immediate charitable income tax deduction for the current year, but defer the payments until a designated date sometime in the future. Best of all, your annual payment will be higher when the payments start than they would have been with an immediate gift annuity.

To receive a free, no-obligation illustration of how you could benefit from a Charitable Gift Annuity, contact Krystina M. Campbell at 312.534.5404 or kcampbell@archchicago.org.

Calculate Your Benefits

See how a gift annuity can benefit you based on your age and desired gift amount.

Charitable Remainder Trusts

A Charitable Remainder Trust (CRT) is a tax-free trust that pays you and/or other beneficiaries an annual distribution. This payment is either a percentage of the annual value of the trust, or a percentage of the original gift amount.

How it works:

  • You transfer cash or an appreciated asset* into an irrevocable trust.
  • The trustee then sells the asset, paying no capital gains tax, and reinvests the proceeds.
  • For the rest of your life (or a term of years), you and/or another beneficiary receive payments from the trust.
  • After your lifetime, the remaining principal is used to support the mission of your parish and/or the Archdiocese of Chicago.
While donating real estate is the most common way to fund a charitable trust, a wide variety of assets can be used, including cash, appreciated publicly traded or closely held stock, as well as oil, gas or mineral interests.

Benefits to you include:

  • You receive income for life for you or your heirs.
  • You receive a charitable income tax credit for the charitable portion of the trust.
  • You establish a legacy gift that will advance God’s work and serve the future needs of our community within the Archdiocese of Chicago.

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