Charitable Gift Annuities

TO RECEIVE INCOME FOR LIFE AND PROVIDE A FUTURE GIFT FOR THE CONNECTICUT JUNIOR REPUBLIC, PLEASE CONSIDER CHARITABLE GIFT ANNUITIES 

Charitable gift annuities provide a fixed life income for up to two donors and a charitable deduction equal to the portion of the gift.  A charitable gift annuity may be arranged with CJR Fund, Inc., by contributing cash or marketable securities in exchange for CJR Fund Inc.'s agreement to the donor an income for life at a rate based on the age of the annuitant.  Up to two lives may be included in the annuity contract, with the Junior Republic becoming the beneficiary of any funds remaining after the death of the annuitant(s).

Some donors prefer to delay receiving income for a period of time after establishing the charitable gift annuity.  In this case, a deferred payment charitable gift annuity may be arranged with CJR Fund Inc.*  This arrangement allows a donor to make a present transfer of assets but defers income payments.  The benefits of a deferred payment annuity are an increased income tax deduction or an increased amount of the annuity payments.

A CJR Fund Charitable Gift Annuity will:

  • Provide a fixed income for life of the donor while ultimately benefiting the Connecticut Junior Republic.
  • Avoid capital gains taxes at the time of transfer to CJR Fund, Inc., if funded with appreciated property.

Important Information about CJR Fund Charitable Gift Annuities:

  • Due to costs associated with administration, the Connecticut Junior Republic asks that donors give a minimum of $20,000 to establish a charitable gift annuity.
  • Gift annuities can be issued for the life of an individual age 65 years and older.
  • Gift annuities can be issued for a maximum of two lives.
  • Gift annuities require a minimum remainder of more than 10 percent for CJR Fund, Inc., computed using government tables.
  • In the case of deferred payment charitable gift annuities, payments may be deferred for up to five years.
  • Rates paid by CJR Fund, Inc. are generally rates recommended by the American Council on Gift Annuities (unless the donor wishes to accept a lesser rate, thereby increasing the charitable deduction associated with the gift).  Please click here to view current rates.

 

All prospective donors are urged to seek their own counsel in matters related to gift annuity and deferred gift annuity tax and estate planning.

To obtain a copy of the disclosure statement, rate charts and annuity agreement for CJR Fund Inc., Charitable Gift Annuities, please contact:

Ms. Hedy Barton, Director of Development
Connecticut Junior Republic/CJR Fund, Inc.
550 Goshen Road, P.O. Box 161, Litchfield, CT  06759
Telephone(860) 567-9423, ext. 252;
E-mailhbarton@cjryouth.org

 

*The Connecticut Junior Republic (CJR) consists of four not-for-profit corporations.  Mary Buel Memorial, Inc., is the holding company that controls the activities of the three related entities.  Connecticut Junior Republic Association, Inc., is the main operating entity, providing all programs and services.  Buel Real Estate, Inc., holds title to and manages the real estate holdings for the exclusive benefit of the CJR Association.

CJR Fund, Inc., manages all of the Connecticut Junior Republic’s endowment assets for the exclusive benefit of the CJR Association.

  • Connecticut Junior Republic
  • 550 Goshen Road, P.O. Box 161
  • Litchfield, CT 06759
  • (860) 567-9423
  • info@cjryouth.org

 

 

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