CGAs: God’s people respond in love

WELS Foundation is pleased to report that God’s people have responded in love by funding 62 charitable gift annuities with assets totaling more than $1.8 million during 2011. Thanks be to God.

A charitable gift annuity (CGA) is a contract between a WELS member and WELS Foundation in which the member makes a gift of cash or securities in exchange for fixed annuity payments, generally for life. After the Lord calls him or her home, the remainder in the gift is distributed to the congregation or ministry as designated.

Income payments from a charitable gift annuity may begin immediately, be deferred to a specific date in the future, or be deferred until an unspecified date in the future.

The donor receives an immediate income tax charitable deduction, and in most instances a portion of the gift annuity payments will be a tax-free return of the original principal.

Designated ministries for charitable gift annuities funded in 2011 include:

WELS congregations (22)Wisconsin Lutheran SeminaryGreat Plains Lutheran High School
WELSBethany Lutheran CollegeKettle Moraine Lutheran High School
WELS Home MissionsFriends of ChinaMichigan Lutheran High School
WELS World MissionsLutheran Women's Missionary SocietyMinnesota Valley Lutheran High School
Luther Preparatory SchoolTime of Grace MinistryNebraska Lutheran High School
Martin Luther CollegeWisconsin Lutheran Child & Family ServiceSaint Croix Lutheran High School
WELS Church Extension FundCalifornia Lutheran High SchoolWinnebago Lutheran Academy
WELS FoundationFox Valley Lutheran High School 

 

WELS Foundation is the foundation of choice for WELS members and ministries. It provides planned giving services and administrative support for gifts benefiting WELS congregations and ministries.

For more information about charitable gift annuities or how WELS Foundation can serve your ministry, please contact Executive Director Jim Holm at 414-256-3206, jim.holm@wels.net.