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Working For You
The UGM-GH
Gift Annuity Program
How a Charitable Gift Annuity from Union Gospel Mission could help you
receive a greater income.
UGM-GH
Gift Annuity
The UGM-GH Gift Annuity is a gift and
income arrangement in which an individual or couple makes a gift of cash,
stocks or bonds to Union Gospel Mission
in exchange for a guaranteed income for life, significant tax benefits,
and an excellent rate of return.
The UGM-GH Gift Annuity works for you by
providing significant financial advantages, as well as the satisfaction of
helping support the work here at Union Gospel Mission.
Types of Annuity
Arrangements
Several annuity arrangements are available to meet your planning needs:
Single-Life annuities provide income for one life and
terminate when the annuitant dies.
Two-Life annuities pay income to two persons for life with
the second person continuing to receive the same income after the first
death.
Deferred annuities allow you to delay income payments to a
date in the future of your choice. They offer a higher rate of return and
are an excellent supplement to retirement plans, particularly if you are
under age 60.
Rate of Return
Your annuity payment will be determined by the number of people involved,
and your age when the annuity is issued. Capital gains tax can also be
reduced if you fund your annuity with long-term, appreciated securities.
The chart below illustrates the rates for one life.
Example of a
Single-Life Annuity
Mrs. Jones is 74 years old. She would like to make a gift in the amount of
$10,000, but still needs a secure income. If Mrs. Jones chooses to make her
gift in the form of a UGM-GH Gift Annuity,
she can receive:
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$690 per year, or a 6.9% return for life.
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An income tax charitable deduction of $5,431 in the year of her gift, if
she itemizes.
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A portion of her annual income ($360) as tax-free return of principal for
her life expectancy.
Through the establishment of her UGM-GH Gift
Annuity, Mrs. Jones can achieve both of her planning goals - to make a
charitable gift and receive a great income.
Easy to Establish
If
you would like to establish a gift annuity, you may do so for as little as
$5,000. To begin the process, simply complete the attached inquiry form and
return it to our office. You will receive a specific proposal which shows
how much the income payments will be, the rate of return, and the tax
benefits you should expect to receive from your annuity. Your inquiry
places you under no obligation.
If
you would like to fund your annuity with appreciated stocks or bonds, please
let us know the value on the inquiry form. We will contact you if
additional information is needed.
If, after you have reviewed your proposal, you decide to establish an
annuity, simply sign the application and return it to us with your enclosed
check. You will receive your signed annuity agreement and the process will
be complete. Remember, there is no limit to the number of annuities you may
establish.
If You Have
Questions . . .
If
you would like further information, a
representative from the Ministry Support
Office will be happy to assist you.
Ministry Support
Union Gospel Mission of Grays Harbor
405 E Heron, PO Box 859
Aberdeen, WA 98520
360.533.1064
Gift Annuity
Inquiry Form
(please print this page)
Yes, please tell me how a UGM-GH Gift
Annuity can work for me!
Please complete the following:
(Please Print)
Name ______________________________ Social Security #_________________
Address_____________________________________________________________
City_____________________________ State_______________ Zip____________
Date of Birth ___________________________ Male or Female
(circle one)
Telephone (_____) _______________________
I'm interested in the following types of annuity:
q
Single-Life
q
Two-Life q
Deferred
Please complete the following only if interested in a Two-Life
Annuity:
Second Name __________________________ Social Security #_____________
(Please Print)
Date of Birth _____________________________ Male or Female
(circle one)
(Month) (Day) (Year)
I am interested in funding an annuity for the amount of:
q $5,000
q $7,500
q $10,000
q Other $_____________
I intend to fund my annuity with:
q Check or Money Order
q Through transfer of Stocks or
Bonds
I wish to receive my income payments:
q Annually
q Semi-Annually
q Quarterly
Please defer my payments until I reach age ___________.
q I would like a personal
contact to explain the gift annuity.
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