Skip to content

Higher Rates Could Mean More Income for You

One Donor. Many Ways to Make an Impact.

Your donation makes it possible to help all people who come to us for life-saving, life-changing medical care. To provide the latest disease-fighting technology. To offer programs in our community that you and your neighbors depend on for good health. That's the difference you can make. 

Donate Today to a Cause You Care About

On November 21, 2023, the American Council on Gift Annuities (ACGA) announced that it would be increasing its suggested maximum annuity rates, effective January 1, 2024. The new rates replace the rates that became effective January 1, 2023.

For most gift annuities, the new rates are approximately 0.4 percentage points higher than the old rates. If you defer the start of payments for a year or more, the increase is even greater. The higher annuity rates will result in modestly lower charitable deductions; however, they will also make gift annuities more attractive to donors seeking to make a gift and receive fixed payments for life.

Why should you consider a charitable gift annuity in 2024?

  • You will lock in gift annuity payments for life without concerns about market fluctuations.
  • If you already have a gift annuity, they are more appealing in 2024.
  • While the income tax charitable deduction for a gift annuity is lower using the 2024 rates, the potential tax-free portion of your annuity increases.
  • If you don’t need income now, deferring your annuity payment increases these rates. (A 70-year-old deferring payments to age 75 is entitled to 8.7% annuity for life!)

If you would like more information or are interested in a personalized illustration, please contact us.