What is a Gift Annuity?

By setting up a WELS Foundation charitable gift annuity, you are creating a lasting legacy and helping to do the Lord’s work. Giving is an act of worship, another way to offer your Lord a thankful response for his never-failing gifts.

WHAT IS A GIFT ANNUITY?

 

A charitable gift annuity is a contract between you and WELS Foundation, in which you make a gift of cash or securities (stocks, bonds, mutual funds) in exchange for fixed payments for life. After the passing of the annuitant, the remainder of the gift will be used by your congregation, mission work of the church, schools, area Lutheran high schools, or other WELS affiliated ministries. Like the stones placed by the River Jordan, your gift is a means to share God’s grace with others well after you enter the Promised Land of Heaven.

WHAT ARE THE FEATURES?

  • Flexible: You can begin annuity payments right away or sometime in the future when you will need additional income. While there is a minimum gift size of $10,000, there is no maximum limit. You can fund a gift annuity for yourself, a loved one, a friend, or even an employee.
  • Secure: Your annuity payments are backed by the assets of WELS Foundation, Inc.
  • Permanent: Your annuity payment is a fixed amount, dependable and unchangeable.
  • Minimum ages: Immediate payment annuities are available to WELS members aged 60 and older; deferred payment annuities are available to members aged 45 and older.
  • Irrevocable. Once established, a gift annuity cannot be changed or cancelled. You may however choose to end the annuity payments to you and allow the residual to be paid directly to your chosen ministries.


WHAT ARE THE BENEFITS?

  • Joy: Arrange to benefit the area of the Lord’s work that is closest to your heart.
  • Fixed payments for life: Your gift comes with the assurance of steady, lifelong payments.
  • Tax savings: You receive an immediate income tax charitable deduction, and in most instances a portion of your gift annuity payment will be a tax-free return of original principal. If you transfer appreciated assets for a gift annuity, you defer tax on a portion of the capital gain, with the balance of the gain spread over your expected lifetime. If you defer annuity payments until a future date, you also delay reporting of the capital gain.
  • Lasting legacy: After the passing of the annuitant(s), the balance will be used to continue the Lord’s work in your congregation, synod, or other WELS ministries.


For a personalized, no-obligation gift annuity illustration, please Contact Us.