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Charitable Gift Annuities

The Community Foundation is pleased to offer a way for retirees and nonprofits to connect. Now you can ensure that the causes closest to your heart will continue to thrive after your death, while receiving regular cash payments with substantial tax savings. The Community Foundation is licensed to establish and manage Charitable Gift Annuities, a powerful tool for supporting your favorite charity while receiving fixed monthly payments for life.

Gifts of cash or any appreciated assets, including real estate, can be used to establish a Charitable Gift Annuity contract with The Community Foundation. Donors 65 or older can elect to begin receiving payments immediately for the duration of their lives, or for the duration of the life of a partner. Although the contract is with The Community Foundation San Luis Obispo County, you choose your favorite nonprofit as the beneficiary, and any remaining amount of the original gift will be transferred to that charity after your death.

Here is an example of how this works. The Smiths have just retired and own a home in San Luis Obispo. They are lifelong supporters of the environment and want to ensure that the Land Conservancy continues to preserve open space for future generations. By contracting with The Community Foundation, the Smiths use their real estate assets to open a Charitable Gift Annuity account. They choose to start receiving payments immediately, which continue for life. Upon their death, whatever amount remains in the account goes to the Land Conservancy in their name.

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