A gift annuity is an irrevocable contract between a donor and Baptist Mid-Missions that provides a fixed income for the life of the donor or other designated beneficiary. Gift annuity assets are maintained in a segregated gift annuity reserve fund from which gift annuity payments are made.
Rates offered are based on the annuitant’s age(s) at the time of the gift. Payments are made quarterly or semiannually, and a portion of each payment is received tax free.
Gift annuities generate an immediate charitable income-tax deduction for a portion of the gift. If the gift annuity is funded with appreciated assets, a portion of the capital gains is excluded and the remainder may be reported over a number of years.
Gift annuities based on two lives are also available.
A gift annuity may be funded with an irrevocable gift of cash or appreciated assets. The minimum contribution is $1,000. Administration of your gift annuity is the responsibility of BMM and is done at no cost to you. BMM can offer gift annuities to donors in most of the United States.
Please contact the Stewardship Ministries Department for an illustration and for more information.