Charitable Gift Annuity
What is a BSS Charitable Gift Annuity?

Charitable Gift Annuity (CGA) provides you, or a party chosen by you, with a guaranteed lifelong income stream while also supporting a charity. When you create a CGA with BSS, you will receive an annuity, and upon the passing of the annuity holder, the remaining balance goes to the charity designated by you.

Several payout options are available. You may choose to receive the fixed income for yourself or another person for their natural life. A couple may also choose to have the fixed income paid until the last spouse passes away. When creating the annuity, you can choose to receive payments quarterly, semiannually, or annually.

How much will my income be?

The annuity income depends on two variables:

  1. The age of the annuity holder
  2. Whether the annuity is based on one life (an individual) or two lives (a couple)

The older the annuity holder is when payments begin, the greater the payment, and the payout will be greater for one life than it will be for two lives. The income stream is guaranteed for the life of the annuity holder(s).

Will my rate of return change?

Once you take out a CGA, your payment amount is guaranteed for life, regardless of what happens to the economy or stock market. Although rates may change for new CGAs, the rate for any established CGA will remain the same throughout the life of the contract. BSS uses rates determined by the American Council on Gift Annuities (ACGA), which is the industry standard.

What are the tax advantages?

There are two key tax advantages that come with establishing a CGA:

  1. A portion of the initial gift you contribute is tax deductible.
  2. A portion of each payment you receive during your life expectancy is tax exempt, resulting in a higher effective rate of return.
  3. Assets used to create your CGA are generally not included in your estate for estate and inheritance tax purposes.
What assets can be used?

A CGA may be purchased with cash or marketable securities, such as stock. Additionally, other assets that are readily marketable may also be used to purchase a CGA, depending on the nature of the asset.

How does it benefit ministries?

The remaining amount contributed to a CGA is held in a separate account for investment and annuity payments, and, upon the beneficiary’s death, the remaining balance will go to the ministry (or ministries) that they designate. If your CGA is with BSS, you can change your charitable designations should you wish to.

Believers Stewardship Services is excited to inform you we are now doing business under the name of Legacy Ministry Services, and you have been re-directed to our new website! Legacy will continue to provide the same services we have always provided under this new branding.

We have taken the necessary steps to ensure that this new name does not have any effect on you. If you have any funds, trusts, annuities, or other accounts with us, those have been considered and will not be affected. If you have an estate plan naming Believers Stewardship Services in any sort of capacity, that is still a valid identity and will not require you to change anything. Lastly, any checks made out to Believers Stewardship Services will remain valid as well. Please feel free to contact us with any questions!