CMCS Foundation
Double You CD Return
Valerie Johnson is a retired high school English teacher. She is also a “saver.” Valerie’s heart has resonated with the biblical wisdom on saving for as long as she can remember, prompting her to acquire a number of certificates of deposit (CDs).
Over the past few years, the return on Valerie's CDs has declined significantly. She has researched other rates, but there just are not any CDs with a good rate of return.
Valerie is interested in a secure, high return. She talked to a friend at church who had set up a Gift Annuity with a ministry she supports. Valerie thought that perhaps a Gift Annuity would provide the secure, higher return she was looking for.
Valerie then called Central Minnesota Christian School and asked about a Gift Annuity. She was very pleased to discover that based upon her age, a Gift Annuity would pay 6%. Plus, there would be a good tax deduction and part of the income would be tax-free.
After finding out how easy it is to set up a Gift Annuity, she transferred $20,000 from a CD that had matured into a Charitable Gift Annuity. She was delighted with her 6% annuity, and her accountant was also pleased that the charitable deduction will save her over $3,000 in taxes this year.
Fixed payments for Valerie from the Gift Annuity will be about two times what she was receiving from her one-year certificate of deposit. She is very pleased with the increased income and the opportunity to support Central Minnesota Christian School.
For a FREE copy of “Increase Your Income and Support the Lord’s Work” contact Kevin Wassenaar from Central Minnesota Christian School at (320) 978-8700 or kevinw@willmarnet.com
Valerie Johnson is a retired high school English teacher. She is also a “saver.” Valerie’s heart has resonated with the biblical wisdom on saving for as long as she can remember, prompting her to acquire a number of certificates of deposit (CDs).
Over the past few years, the return on Valerie's CDs has declined significantly. She has researched other rates, but there just are not any CDs with a good rate of return.
Valerie is interested in a secure, high return. She talked to a friend at church who had set up a Gift Annuity with a ministry she supports. Valerie thought that perhaps a Gift Annuity would provide the secure, higher return she was looking for.
Valerie then called Central Minnesota Christian School and asked about a Gift Annuity. She was very pleased to discover that based upon her age, a Gift Annuity would pay 6%. Plus, there would be a good tax deduction and part of the income would be tax-free.
After finding out how easy it is to set up a Gift Annuity, she transferred $20,000 from a CD that had matured into a Charitable Gift Annuity. She was delighted with her 6% annuity, and her accountant was also pleased that the charitable deduction will save her over $3,000 in taxes this year.
Fixed payments for Valerie from the Gift Annuity will be about two times what she was receiving from her one-year certificate of deposit. She is very pleased with the increased income and the opportunity to support Central Minnesota Christian School.
For a FREE copy of “Increase Your Income and Support the Lord’s Work” contact Kevin Wassenaar from Central Minnesota Christian School at (320) 978-8700 or kevinw@willmarnet.com
Source: Crescendo Interactive, Inc. This is general information and is not intended to be tax or legal advice. Please consult your own advisors.
"Double Your CD Return"
- March 2009
- March 2009
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