Diocese offers gift annuities through Catholic Community Foundation

by Mark Kemmeter, Diocesan Coordinator of Staff

Charity comes from the heart. Still, we all need to make wise choices with our money - and now that’s easier to do.

The Diocese of New Ulm is offering a new way for Catholics to receive a lifetime income in exchange for making a gift that supports the diocesan church. It is called a Charitable Gift Annuity.

To set up a Charitable Gift Annuity a one-time gift of $10,000 or more is made. In return, a lifetime income at a guaranteed fixed rate of 6% to 11.5%, dependent upon your age, is received. The gift qualifies for a charitable tax deduction and you can choose which Diocesan charity will benefit from your gift - including your parish.

Bishop Nienstedt has arranged to offer Charitable Gift Annuities through the Catholic Community Foundation (CCF) based in St. Paul. Founded in 1992, CCF’s mission is to provide financial support for the spiritual, educa-tional and social needs of the Catholic community in the State of Minnesota. The Foundation currently manages assets in excess of $100 million and has distributed over $27 million in grants. The Foundation works with donors to help them capitalize on the benefits of charitable planned giving, including the ability to reduce their taxes, receive a life income from their gift, and leave a legacy for generations to come.

At the recent Pastoral Leader Days, Bishop Nienstedt and diocesan pastoral leaders gathered to hear a presentation from CCF. It was agreed that working with CCF would be a wonderful, win-win offer. Donors win by receiving a life income at guaranteed rates, tax benefits and the joy of helping the Church. The Diocese and/or parishes win by being named beneficiary of the gift.

The sharing of treasures with others is part of the call to be a person of faith. A Charitable Gift Annuity is a way "to give a gift that keeps on giving" and, at the same time, to receive income from the principal. The ad on this page provides the basic information about the gift annuity.