How Does A Charitable Gift Annuity Work?

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Hi there, Stan the Annuity Man,

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America's annuity agent, licensed in all

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50 states of Puerto Rico. Today's topic

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is a good one. It's kind of pro bono

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work for me. How does a charitable gift

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annuity work? Charitable gift annuities

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are not something that agents and

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advisers can sell.

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Who cares? It's good. So, we're going to

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talk about it because it's in the

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annuity world after this.

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So, charitable gift annuities, um,

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[clears throat]

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known about them for a long time.

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There's the the organization that

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oversees them. I think they're called

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the American Charitable Gift Assoc

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annuity association. Google it. Just

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Google charitable gift annuity

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association.

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They are fantastic.

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So, there is kind of a governing body

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over this.

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But here's the way I want you to look at

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it. Think of your favorite charity,

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Salvation Army, Cancer Society, Humane

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Society, or think of a hospital you

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like, Mayo, or you know, some something

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like that. Or think of where you went to

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school, good old state university, good

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old,

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you know, whatever the college is, you

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know, a 501c3. It's, you know, look at

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nonprofits as well.

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Those are the organizations that offer

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charitable gift annuities. Now, we're

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only going to talk there's many there

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can be many types of charitable gift

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annuities, but the primary one that most

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people use is for lifetime income. Kind

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of like a single premium immediate

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annuity. If you go to my site, you can

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download a book, single premium

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immediate annuity owners manual. You can

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run quotes on single premium immediate

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annuities. You don't have to put in your

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information. You can get the quotes just

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with date of birth, gender, and state of

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resident. We're the only ones that do

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that. But, you know, that's a lifetime

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income stream

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that's going to pay as long as you're

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breathing. Um, charitable gift annuities

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can do the same. So, in other words,

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let's let's just say you went to

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state university in your state and you

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said, you know what, I love that place.

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It was the best years of my life. I, you

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know, I got my degree there and it's

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made my life so much better and I'd

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really like to give back, but I really

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need some income. Um, call them and say,

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"Do you have a charitable gift

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side of the of the college that someone

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runs?" Typically, they do, and they'll

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offer a lifetime income stream payment

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for you, but when you die, the in the

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college keeps the money.

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Or let's just say it's the Humane

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Society. You get a lifetime income

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stream, but when you die, the Humane

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Society keeps your money.

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And for that, you get a very good tax

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break, something you need to speak with

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to the to the people at the 501c3 or the

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college or wherever, and also your CPA

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and tax lawyer.

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So, you get not only lifetime income

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stream, but you get some tax benefits as

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well.

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So, if you're looking at lifetime income

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to start and it to start soon, you

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should shop our site single premium

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immediate annuities because we represent

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all A+ carriers or better. Okay? And

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then I would go to your charity of

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choice or university or hospital,

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whatever, and say, "Do you have an

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immediate annuity type payment through a

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through a charitable gift annuity?"

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Works the same. You know, when you look

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at, you know, I do A+ or better. A+ or

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better um for lifetime income with an

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immediate annuity or all the income

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products. I would do the same type of

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due diligence on the charity. Do they

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have the money to pay you?

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You know, you don't want to do um you

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know, a charity that's tea tiny, right?

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They probably don't have the structuring

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to offer a charitable gift annuity. But

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for instance, I um I'm not political.

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You know that I'm not Democrat or

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Republican. I'm contractual because I

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only do contractual guarantees. So, I

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should be running under the contractual

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guarantees party. But I did help a small

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college in Michigan called Hillsdale

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College. You might have heard of run by

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a great person um you know, Dr. Arn um

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he he just he's he's just a great a

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great man, great vision, and um you

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know, he he he spearheaded that to where

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people willing to give money, but you

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know, I helped them. They had a they had

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a charitable gift annuity program, but I

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just kind of helped them tweak it a few

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years back. I've helped a few

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organizations do that. I get nothing out

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of that. There's no commission. The

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reason your advisor or agent has never

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talked about it is there's there's

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nothing in it for the agent except doing

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the right thing and telling people about

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it. I told a story recently about a a

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client that was wanting to do a bunch of

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immediate annuities with me and I knew

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kind of his background and he was a he

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was a philanthropist and I said, "Have

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you have you checked with some of the

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organizations you give money to to see

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if they have a charitable gift annuity?"

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He did and it ended up he did half in

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charitable gift annuities and half in

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immediate annuities and it worked out.

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He got some huge tax advantages for

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doing that and it was the right thing to

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do for me which is the reason that I'm

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doing that on this uh doing the topic on

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my videos. You know we do not offer

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that. But in the future on my new site

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and I did just launch a new site check

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the date um

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we're going to have a link to the

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charitable gift association and so you

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can do the due diligence etc. But when

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you go to good old State U or the 501c3,

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they'll give you the financials for you

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to look at or have someone look at for

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you to see if they can back up the

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claim. But lifetime income is lifetime

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income. We all need an income floor. So

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there's four products that I offer, you

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know, SPSDS, QAX, and income writers

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that do lifetime income. And then you

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have charitable gift annuities that can

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also do them, but they do not involve

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agents and advisors. They involved they

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involved that organization and typically

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that organization has someone that runs

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that. I was watching PBS the other night

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some documentary I think it was a Ken

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Burns documentary and at the end they

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had an announcement that you know about

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their charitable gift annuity for that

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local station. I'm like, that's cool. I

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like that. You know, if you want to

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leave a legacy and a lot there's a lot

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of money going to be left as a legacy

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over the next what, 5 to 10 years when

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all the baby boomers, you know, hit the

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wall. There's a lot of money. And if

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you're one of those people, it's not a

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bad idea to to give money away and get a

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lifetime income stream if you want to.

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You can, in essence, kill two birds with

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one stone. I don't know if that's the

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right analogy to use with the charitable

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gift annuities, but you know what I'm

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talking about.

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If you have any questions about that,

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send me an email stantheanuityman.com.

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You can also book a call. I have no

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problem spending some time with you on a

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charitable gift annuity solution that

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you know, it doesn't matter. I listen, I

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don't do this for the money that that

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left the building decades ago. I do this

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because I want to change the industry

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for the better. That's why I do a video

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a day. That's why we changed our

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website. That's why we give away the

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quotes. That's why I give away my books.

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I want to change the industry. It's all

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about contractual guarantees. Charitable

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gift annuity is all about contractual

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guarantees. There's no growth component

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to that. It's a lifetime income stream

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and you get tax benefits. So, I hope you

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learned something today. If it tweaked

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any interest, shoot me an email,

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stantheanuityman.com.

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And, you know, we can run comparison

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quotes. You know, does a SPIA outperform

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the charitable gift annuity? And then

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you have to take into account the tax

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the tax favorability of that charitable

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gift annuity. I'd love to walk you

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through that. I help people do that all

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the time. It's what I do. It is it is

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what it is, right? One last thing above

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my head the spinning clock. I did a a

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video on attention all annuity haters.

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You already own an annuity. One of the

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reasons I do that is because I there's a

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lot of times I wear my Iheart annuity

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haters t-shirt around in public airports

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and people like, "Yeah, I hate him too."

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And I'm like, "You're a hypocrite.

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You're an idiot." I don't say that, but

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internally I do because they already own

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Social Security, which is the best

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inflation annuity on the planet. But

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there are others that they own as well.

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But that's a fun video. Something you

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might consend to that blowhard person at

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the cocktail party that goes, "I'd never

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buy an annuity. My last year my

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portfolio did 48%." Shut up. Stop

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drinking. You know what I'm saying? I

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can say that. I'm 20 years sober in

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October. And that did rhyme. Dr. B. 20

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years sober in October. Reach out to us.

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I do a video every single day. I know

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you're saying, "Really? Even on Sunday?"

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Uhhuh. Yeah. Every single day we drop a

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new video. My goal out here is to we we

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dominate the space. We have the largest

8:56
staff of anybody in the business. All

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under one roof in Las Vegas, Nevada.

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We're open 68 hours a week, 12 hours

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every single day, Monday through Friday.

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We're unmatched with that. But I want to

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change the industry for the better. We

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dominate it already. But I want to

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change the industry. That's my goal. And

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we are going to do that. If I have to

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suffocate every single bad sales pitch

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out there with these types of messages,

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I will do that. My name is Stan the

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annuity man.