Charitable Gift Annuities

At Open Avenues, we are dedicated to making a lasting impact on the lives of people with disabilities. We'd love to introduce you to an innovative and mutually beneficial way to support our mission while also providing for your financial future: Charitable Gift Annuities (CGAs).

Key Advantages of Charitable Gift Annuities:

1. Income Stream Backed by an Insurance Company: Unlike many other income-generating charitable gifts, the income stream from a CGA is not backed by the charitable organization. Instead, an insurance company guarantees the income, providing an added layer of security for you.

2. Maximize Highly Appreciated Assets: CGAs offer a tax-efficient way to leverage highly appreciated stocks or other assets. By gifting these assets to Open Avenues, you can avoid capital gains taxes, and the charity can sell the assets to provide you with a lifetime income stream.

3. Tax Benefits: A CGA can reduce your taxable income in the year of the donation, and the donation itself is still considered a qualified charitable contribution. Additionally, you can make additional contributions to the CGA in later years, regardless of age or contract value.

4. Ownership and Beneficiary: Open Avenues is both the owner and beneficiary of the annuity policy, while you, the donor, are the annuitant. This structure ensures that the charitable organization benefits from your generous gift.

5. Max Issue Age of 75: To be eligible for a CGA, the donor must be younger than 76 when the annuity is issued, making this a great opportunity for those looking to secure a lifetime income stream while supporting a charitable cause.

6. Death Benefit: If the current value of the Variable Annuity does not reach $0 over time, the annuity company will reimburse Open Avenues the original policy amount upon your passing, even after having paid out the lifetime income stream.

By establishing a Charitable Gift Annuity with Open Avenues, you can make a meaningful impact on our organization's work while also securing valuable financial benefits for yourself. Your support will enable us to continue our vital programs and services, empowering individuals and enriching our community. We encourage you to consult with your tax advisor or financial planner to understand the specific tax benefits that may apply to you based on your individual circumstances.

If you are interested in learning more about Charitable Gift Annuities or other ways to support Open Avenues, please feel free to contact us by phone or email. We would be delighted to discuss this opportunity further and answer any questions you may have.

Jacob Sheatsley Kelly Sampson
Executive Director Development Director
Jsheatsley@openavenues.org ksampson@openavenues.org
479.636.5082 ext. 6210 479.636.5082 ext. 6223