A charitable gift annuity is a unique way to support the Franciscan Friars of the Atonement's mission of reconciliation and healing and receive fixed income for the rest of your life. Think of it as the gift that gives back. To help you understand more about our gift annuity program, here are the answers to the questions we are most frequently asked.

• You receive an income tax deduction for the gift value when you fund the annuity, and part of each payment is tax-free. You receive regular payments, determined at the time of the gift, for the rest of your life.
• You can choose to have your annuity payments begin now or at a future time.
• A deferred payment annuity can be an excellent way to supplement your retirement plan.
• Your payments are guaranteed by the assets of the Friars of the Atonement.
• Rates are very attractive compared to current interest values.
• You help support the important ministries of the Friars of the Atonement.
• Membership in Fr. Paul Wattson Heritage Society (gift annuities of $5,000 or more): As a Member of this very special Society, it pleases us to provide you with the following perpetual spiritual benefits:
• Remembrance in and an invitation to participate in an Annual Heritage Day Mass to be celebrated at Graymoor on the 2nd Friday of June in each year;
• Remembrance in the perpetual Novena celebrated at Graymoor to St. Anthony;
• Recognition as a Member -by name-on the Heritage Society plaque on permanent display at Graymoor;
• A special certificate booklet proclaiming your Membership and a lapel pin designated exclusively for Society Members;
• Perpetual Membership in the Graymoor Spiritual Union.

How does a Charitable Gift Annuity work?
You can transfer cash,or other assets such as stock,to our charitable gift annuity program and enjoy regular payments for life. The amount of each payment is determined by the age(s) of the annuitant(s) when the annuity is originally funded. Once payments are determined, they remain fixed for the annuitant’s lifetime.

Suppose Mr. Jones,age 75,wants to fund a Charitable Gift Annuity with $10,000. He wants to receive regular payments for the rest of his life as well as his wife's,age 70. At their ages,the rate of return is 6.1% which means that $610 a year will be paid to Mr.& Mrs. Jones,or the survivor thereof. Over $330 out of each payment is a tax-free return of the principal. The income tax deduction at the time of the gift is around $3,717. Upon the death of the surviving annuitant, the Friars of the Atonement receive the remaining proceeds.

How many annuitants can you have?
One or two. Two is common for married couples who want to ensure that both spouses will enjoy the lifetime payments.

Can you have more than one Charitable Gift Annuity?
Yes.

Does the rate of return change depending on my age?
Yes. Here is a sampling of rates currently paid by the Friars of the Atonement.

How much would I have to give to fund a Graymoor Charitable Gift Annuity?
You can fund an annuity for as little as $1,000 or as much as you want. For residents of the State of California, the minimum amount is $10,000.

How old do I have to be to set up a Charitable Gift Annuity?
You can set up a Charitable Gift Annuity as young as age 50. You can choose to immediately start receiving payments or you can defer payments until you are 55.

How does my funding a Charitable Gift Annuity help the Friars of the Atonement?
Through your Charitable Gift Annuity, you help us plan for the future of the Friars of the Atonement and, because there is no probate, the remaining funds come to the Friars immediately upon the annuitant’s death.

How do I fund a Charitable Gift Annuity?
A Charitable Gift Annuity can be set up by a simple three step process.

• You request a proposal from the Friars of the Atonement which
  details the specific benefits of your Charitable Gift Annuity.
• You fill out the application form and send it to the Friars along
  with your gift in the form of a check,stocks or bonds.
• The Friars send you a Charitable Gift Annuity contract specifying the payment dates and the amount of each payment you will receive for life.
  

What is the difference between a Charitable Gift Annuity and a Charitable Remainder Trust?
With a Charitable Remainder Trust, you can set up a trust that is uniquely designed to accommodate your family situation. You can give cash,appreciated securities,or real estate that will provide an income to you or your loved ones while making a significant gift to the Friars of the Atonement and avoid capital gains tax on appreciated assets. You still receive a charitable income tax deduction and it can be established during your life or in your will.

Some ways trusts differ from a Charitable Gift Annuity are:

• You can name more than two beneficiaries
• You can fund a trust with assets other than cash or stock.
• You can maintain control over the assets of the trust.
• Some types of trusts allow you to add to the principal.
• The ability to increase the growth of the asset used to fund the trust.
• The minimum amount to fund a trust is $100,000.
• The minimum payout rate for a trust is 5%.

For more information
If you are interested in learning more about making a gift to the Franciscan Friars of the Atonement-Graymoor that pays you an income for life, please call Fr. Emil Tomaskovic, S.A. or Margaret Coyle at 1-800-338-2620 ext. 3126. If you want to create your own personal proposal, just click on the bell tower below, or Complete our Personal Proposal Form by clicking here.

Franciscan Friars of the Atonement
P.O. Box 300
Garrison, NY 10524-0301
(800) 338-2620
info@atonementfriars.org