By Deanene Catani
A charitable gift annuity to benefit parishes, schools, Catholic Charities or the Diocese of Knoxville is a generous expression of support for God’s work in East Tennessee via a sound investment program, according to a new program being introduced in the diocese.
Catholic Gift Annuities, provided in partnership with the diocese, are now available through a program offered by the Catholic Church Extension Society, one of the largest, oldest and strongest managers of annuities in the United States, according to Deanene Catani, major gifts and planned giving officer with the Diocese of Knoxville.
By taking out a Catholic Gift Annuity individuals may be eligible for a charitable tax deduction, receive fixed payments for life and leave a legacy to the church.
What is a charitable gift annuity? A charitable gift annuity is a simple contract where individuals make a gift to Catholic Gift Annuity, and in return, they receive fixed payments for life. At death, the remaining balance of the gift annuity is distributed to the Catholic organizations in East Tennessee they designated.
What are the benefits? One is the satisfaction felt in making a significant gift that benefits an individual now and the Catholic organizations of their choice for future generations.
Another benefit is receiving fixed payments for life, with a portion of these payments being tax free.
Receiving an income tax deduction for a portion of a gift, as allowable by IRS rules, is yet another benefit as is joining a pool of thousands of Catholics in a financially strong program that helps the Catholic Church.
To learn more about how to provide for the future of Catholic ministries, contact Mrs. Catani at dcatani@dioknox.org or 865-584-3307.
