Covenant House California: Saving Homeless Kids from the Streets | Giving

The gift annuity is the most popular planned gift after bequests. In exchange for your gift of cash or marketable securities to Covenant House California, we agree to pay you (and a survivor or other beneficiary) a fixed amount annually
for your lifetime. The transfer is part gift and part purchase of an annuity. The minimum donation to establish a gift annuity is $5,000. You will receive a tax deduction in the first year of your gift annuity, the amount of which will vary based on your age. In addition, a portion of the annual proceeds will be tax-free to you for a number of years. Your rate of return is attractive and the payments are guaranteed for life.

The rates are different for an annuity that benefits two:

Example #1
Mrs. Bilderback, age 80, gave $10,000 to Covenant House California for a gift annuity. For the rest of herlife, she will receive a guaranteed annual income of $800 paid in four quarterly installments of $200 each
($10,000 x 8.0% -- the annuity rate for her age).

Example #2
Mr. Littlefield, aged 89, gave $10,000 to Covenant
House California for a gift annuity. For the rest of his life, he will receive a guaranteed annual income of $1,100 paid in four quarterly installments of $275 each
($10,000 x 11.0% -- the annuity rate for his age).

At Covenant House California, we recommend that you consult with your attorney or tax advisor for the various tax benefits and restrictions that may apply to your specific situation. Covenant House California does not provide legal or tax advice, but our staff are always available to you and your advisors to answer questions or to help arrange a planned gift to Covenant House California. By remembering our kids in this way you keep the promise of our Covenant with future generations.

Stories about Our Donors:
Barbara Bilisoly's Gift Annuity - A Lifetime of Love and Commitment

Barbara Bilisoly was taking care of homeless children long before there was a Covenant House. And now, five decades later, her generosity will help Covenant House care for homeless kids well into the next century.

“Back in the 1940’s, during the Second World War, I was a young lady living in New Orleans French Quarter and working at a home for orphaned children run by my church,” says Barbara, at 82 as sharp and engaging as someone half her age.

“Sometimes we were so overflowing with children that we’d have to take them home with us for short periods of time, because the fire marshal said we had too many in the orphanage. So I learned early in life that these were good kids who really just needed a chance...Click here to read more