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Benefits to Consider

Ability to Change the Ultimate Beneficiary

As we all know, the direction of a charitable organization can change with leadership, financial or legal troubles, or just through the passing of time. With a traditional gift annuity, your irrevocable gift cannot be withdrawn and placed with another charity, should you have a change of heart or the charity changes its mission. With the Raymond James Charitable Gift Annuity you are given the flexibility to change the ultimate charitable beneficiary at any time you wish.

A Partial Tax Deduction

As a donor, you are entitled to take a partial tax deduction when opening a charitable gift annuity. The amount of the tax deduction will depend on the age of the annuitant(s), the annuity rate, and a “discount” interest rate published by the IRS. The RJCEF will provide you with a calculation of your deduction that you can review with your tax advisor. You should consult with your tax advisor for more information regarding any specific tax questions or concerns.

Capital Gains Tax Savings

Charitable gift annuities can be particularly attractive if you have high-appreciated, low-income assets. You can acquire the gift annuity in exchange for the asset and avoid an immediate taxation on the gain. Instead, the gain is spread over the life expectancy of the annuitant(s).

Less Risk

Most traditional gift annuities are backed by the assets of the charity alone. If the charity goes under, so will the lifetime annuity payments, which may be of particular concern with new or smaller charitable organizations. The Raymond James Charitable Endowment Fund reinsures every charitable gift annuity through a large insurance company. The insurance company will assume the mortality risk, and in turn, you can be assured the annuity payments will take place as scheduled.

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