Provide hope for patients and families facing cancer, diabetes or other life-threatening diseases for years to come – with a charitable Gift annuity with City of Hope®.
How a Charitable Gift Annuity Works
- A gift of hope for City of Hope patients. Your gift ensures City of Hope’s groundbreaking research and compassionate patient care will continue uninterrupted, regardless of what’s happening in the world.
- Attractive payment rates. Depending on your age, rates go as high as 10.1%. You can benefit up to two people and provide financial security for yourself and a spouse or other loved one. You each receive payments for your lifetimes.
- Rates can be even higher. If you’re not sure when you would need your payment to start, a flexible deferred charitable gift annuity allows you to decide later. The longer the deferral, the higher your payment rate.
- Lower taxes. With a charitable gift annuity, you are eligible for an income tax deduction and a portion of your payments is typically tax-free.
- Fixed, guaranteed payments. The fixed payments from a charitable gift annuity can help balance equity risk in your portfolio. Your payment will never change and is backed by the full assets of City of Hope.
Current Charitable Annuity Rates*
*Rates as of January 2024. Based on one beneficiary and a gift of $25,000 (our minimum gift amount). This information is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in any examples are for illustrative purposes only. California residents: Annuities are subject to regulation by the State of California. Payments under such agreements, however, are not protected or otherwise guaranteed by any government agency or the California Life and Health Insurance Guarantee Association.
Request a downloadable copy of our complimentary publication about charitable gift annuities using the form on this page.
Frequently Asked Questions
Q: I am 70 ½ or older. There is news that I can now fund a charitable gift annuity with a Qualified Charitable Distribution (QCD) from my IRA. How can I do that?
A: Under the provisions of the Secure 2.0 Act, signed into law on December 31, 2022, as part of the federal omnibus spending bill, donors age 70 ½ or older may take a one-time QCD to fund a charitable gift annuity. There are a few differences between annuities funded with a QCD and those funded with cash or appreciated securities:
- This is a one-time opportunity. While you may continue to direct QCDs to your favorite charities in any year, you may only fund a gift annuity with a QCD in one tax year.
- You may only give a total of $53,000 to fund charitable gift annuities, across all charities. However, you may still make up to $105,000 in total QCD gifts in a year, as long as not more than $53,000 funds a charitable gift annuity.
- The entire gift annuity payment will be taxable as ordinary income. When a gift annuity is funded with cash or securities, some of the annuity payment will not be taxed.
- A gift annuity funded by a QCD can only benefit the donor and/or the donor’s spouse.
- You may not defer payments more than one year.
- There is no charitable deduction available, although your QCD amount is still excluded from your adjusted gross income.
Q: Is there a minimum age or donation amount required to establish a City of Hope charitable gift annuity?
A: City of Hope requires a minimum donation of $25,000, although it is not uncommon to contribute $105,000 or more. You must be age 60 or older to establish a charitable gift annuity with us. Younger donors may be able to establish a deferred charitable gift annuity. If you are looking ahead to retirement, you can delay the start of payments and realize a higher payment rate.
Read Heinz Beer’s Story
At the heart of every charitable act lies a unique and inspiring story. Heinz Beer’s journey from a challenging childhood in Switzerland to becoming a generous supporter of City of Hope is a testament to the power of resilience, compassion and the joy that comes from giving.
Heinz was born into a large family, with three sisters and two brothers, relying on government assistance and rationing bags. Through their hardships, Heinz quickly learned the value of money, running errands for neighbors to make ends meet. Growing up in barracks with a wood stove, he developed a strong bond with his mother, helping with household chores and managing their plot of land for growing crops.
An active and intelligent individual, Heinz’s passion for technical and mechanical items led him to complete an apprenticeship at 19 and left to work in Denmark. However, a bike accident set him back for a year. Undeterred, his highly sought skills eventually took him to Canada and then to the United States, where he became a successful entrepreneur. He started and sold his shop specializing in tool and die casting, and carefully saved and wisely invested his earnings, such as buying real estate.
Heinz’s connection with City of Hope began when his neighbor faced a health crisis. Impressed by the quality of care and attention City of Hope gave to caregivers and patients, Heinz started making contributions.
Faced with significant capital gains taxes from selling property, he turned to City of Hope Planned Giving professionals to explore charitable options that might help him mitigate the impact of the sale. After reviewing his options, Heinz established a charitable gift annuity, which enabled him to offset the capital gains consequence, provided him with lifetime income and fulfilled his philanthropic goals. Since then, he has established 12 more gift annuities with City of Hope and has made City of Hope a beneficiary in his estate plans.
With a lifetime of financial savviness, Heinz is committed to continuing to establish a gift annuity with City of Hope after his saving account reaches a specific value. With glee, he shares that his annuities now provide the most significant source of income for him well into retirement.
Heinz’s philosophy is simple yet profound: You can’t take it with you. He chooses to experience the joy of giving in his lifetime, ensuring his legacy lives on through his support for the remarkable work of City of Hope.
To learn more about ways to support City of Hope by establishing a charitable gift annuity or through a gift in your will or trust, please contact the Office of Planned Giving at 800-232-3314 or plannedgiving@coh.org.
