Give and You Shall Receive
Yes, that's the way it works. And with an Oklahoma Baptist Homes for Children gift annuity, you not only receive the satisfaction of helping to further the mission of Oklahoma Baptist Homes for Children, you receive annuity payments for the rest of your life.
Example: John and Mary Jones are in their late 70's. They give $10,000 to Oklahoma Baptist Homes for Children for a two-life gift annuity. Assuming a gift annuity rate of 7.8 percent, they will receive $780.00 every year for the rest of their lives. Even after one of them dies, the remaining spouse will continue to receive the payments. On top of this, the Joneses will receive a charitable income tax deduction, and a substantial portion of their payments will be tax-free.
Why does Oklahoma Baptist Homes for Children recommend gift annuities through The Baptist Foundation of Oklahoma? Many of our friends want to give more to Oklahoma Baptist Homes for Children but live on fixed incomes and can't afford to donate income-producing assets. With our gift annuity program, they can make a significant gift and still retain lifetime payments. In some cases, they can even increase their annual cash flow.
Example: Wilma Williams is 80 years old and has common stock in a company that pays her a dividend of two percent per year. This means that $10,000 worth of stock provides Wilma with a quarterly check of only $50. Wilma can transfer this stock to Oklahoma Baptist Homes for Children for a charitable gift annuity. Assuming a gift annuity rate of 9.2 percent, she could receive $230.00 each quarter, or $920.00 for the year. And her payments are secured by all the assets of The Baptist Foundation of Oklahoma.
Fixed payments, income tax deduction for itemizers, partial bypass of capital gains tax, possible reduction of estate taxes these and other benefits make an Oklahoma Baptist Homes for Children gift annuity a prudent option for many of our older friends. In fact, we find that some of our donors obtain additional annuities as they get older because of the higher payment rates.
There's something else our gift annuity donors receive: membership in the Truman and Alice Maxey Legacy Society. This special group of forward-thinking people are partners with us in planning for the future. Their gift annuities and other planned gifts let us know that vital resources are available to help Oklahoma Baptist Homes for Children fulfill our mission to the next generation.
E-mail Neal Wooldridge, Vice President for Planned Giving, or call him at (405) 570-9836. As always, your inquiry will be treated confidentially.
Sample rates for one beneficiary
(subject to change)
| Age 65
| Age 75
| Age 85
| Age 90+