A Gift with Great Return
Providence St. Jude Medical Center was home for the late Marion and James McGrew. As grateful patients themselves, both were motivated to help others receive the same kind of compassionate care they had received. “We know of no better way to contribute,” said Marion. “It is always encouraging when patients are able to acknowledge the positive experiences at Providence St. Jude by giving back in this way.”
Marion and James used 2,300 shares of a solid, but underperforming stock, to fund their generous gift using a charitable gift annuity (CGA). The McGrews were able to enjoy a much higher rate of return with the gift annuity than they had received with the dividends from the stock. In addition, both were satisfied with the lifetime payments their gift provided, which increased their financial security.
The CGA is an ideal option for anyone who wants to make a gift and simultaneously create a stream of income to ensure financial security. It is a simple contract between the donor and Providence St. Jude Memorial Foundation. Through this legal agreement, one can establish this gift with cash, securities or even real estate. In return, the Foundation agrees to pay the donor fixed payments for life (much of the fixed payments are tax-free).
A CGA combined with a life estate reserved is another unique way to make a gift of your property but retain the right to live there. This gift option provides a creative way to make a major impact on Providence St. Jude — in many instances, an impact greater than you may have considered before.
With a CGA, donors can achieve their philanthropic goals, increase income and gain substantial tax benefits at the same time, just as the McGrews did.
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Together, we can provide care that transforms lives, now and for years to come.