CHARITABLE GIFT ANNUITIES

A Charitable Gift Annuity is a simple contract between you and the Holy Names Sisters Foundation.  In exchange for your irrevocable gift of cash or securities, the Foundation agrees to pay your or your designated annuitants a fixed sum each year for life.  You will receive a significant tax deduction at the time the gift is made and, in most cases, part of each annuity payment is tax-free.

There are Several Different Types of Gift Annuities:

• The Single Life Gift Annuity is based on just one person’s life, whether it is the donor’s life, a friend’s life, or the life of a relative of the donor.
   
• A Two-Life Gift Annuity allows a second person to receive the same payments after the primary annuitant’s death for the rest of his or her life.
   
• A Deferred Gift Annuity offers a charitable tax deduction now while it secures a higher rate of return later when the payments are most needed.

The Sisters of the Holy Names have established a minimum age requirement of 65, and a minimum $10,000 investment for all Gift Annuities.

Sample 2004 Gift Annuity Rates

The example rates below are applicable for immediate Single Life Annuities:

• Age 70 = 6.5%  • Age 75 = 7.1%  • Age 80 = 8.0%
• Age 85 = 9.5%  • Age 90+ = 11.3%

The following example rates are applicable for Deferred Gift Annuities, where the annuity income is not received until some time in the future:

If established at age 65, rates equal

• 6.5% if income begins at age 66
• 8.5% if income begins at age 70
• 12% if income begins at age 75

All Gift Annuities are Restricted

All Gift Annuities are secured in a Restricted Fund of The Holy Names Sisters Foundation. Each Gift Annuity has a written agreement that restricts the funds for a specific usage and thereby cannot and will not be used for any other purpose.

To receive a personalized, confidential illustration or for more information regarding gift-planning options, please contact us.

This information is not intended as specific legal advice or tax counseling. Please consult your attorney on legal implications and your accountant on tax implications. State laws governing these matters vary and are subject to change.