Charitable Gift Annuity

Description of Services

The Charitable Gift Annuity enables you to make a gift of cash or securities to WaterStone and receive fixed payments for life. At your death, the remainder will be available for the mission of your recommended charities.

Advantages of a Charitable Gift Annuity Program

  • A potential for a high rate of return. Your annuity payments may be considerably more than you are presently receiving.
  • Immediate tax deduction. The giver receives an immediate partial tax deduction.
  • Provision for yourself and one other: your spouse, a special needs child, or a parent.
  • Lifetime payments. The annuitant(s) receive payments for life backed by the full faith and credit of WaterStone.
  • Flexibility: you choose immediate or deferred payments and frequency of payments—quarterly, semi-annually or annually.
  • Partial tax-free payments. Part of the payments may be a tax-free return of principal.
  • Ability to support your favorite charities. For ultimate flexibility, the giver may recommend favorite ministries or charities, own a Giving Fund or select a Charity Advised Fund to receive the charitable portion of the gift.

State Disclosures

The following are state disclosures as applicable to your state of residency. Charitable gift annuities are not covered by any state insurance guarantee fund.


Annuities issued to California residents by a Grants and Annuities Society (Christian Community Foundation, Inc.) will not be covered by the California Life and Health Insurance Guarantee Association and any resident considering this type of investment should seek the advice of a tax professional.


A copy of the official registration and financial information may be obtained from the division of Consumer Services by calling toll-free within the state. 800.435.7352. Registration does not imply endorsement, approval, or recommendation by the state.


Financial information about this organization and a copy of its license are available from state of North Carolina Solicitation Licensing Branch at 919.733.4510. The license is not an endorsement by the state.


The official registration and financial information of Christian Community Foundation, Inc., doing business as WaterStone, may be obtained from Pennsylvania Department of State by calling toll-free, within Pennsylvania, 800.732.0999. Registration does not imply endorsement.

Christian Community Foundation, Inc. dba WaterStone offers Charitable Gift Annuities in most states, with the exception of Arkansas, Hawaii, New Jersey, New York, Washington and Wisconsin at the present time. We are pleased to work with you to facilitate your charitable giving.


What type of gifts may be exchanged for a gift annuity?

Gifts of cash and securities may be exchanged for a Charitable Gift Annuity. Non-cash assets will be immediately sold and invested.

Is there a minimum value for a charitable gift annuity?

Yes, the WaterStone Board of Directors has established a $25,000 minimum in order to enter a Charitable Gift Annuity agreement.

Can more than one annuitant receive payments?

IRS regulations require that no more than two annuitants are to receive payments. However, most often, a Charitable Gift Annuity is written for the lives of both spouses. Another attractive feature of the charitable gift annuity is the ability to include others who are important to you. You may purchase a gift annuity to provide for a child with special needs or to provide for the long-term needs of parents.

When will the annuitant(s) begin to receive gift annuity payments?

If an “immediate” annuity is preferred, annuity payments will begin the end of the first payment period. Most of our givers request quarterly payments. The annuitant can expect payments by the last day of the quarter.

Do payments have to begin immediately or can they start when the annuitant retires?

Payments may begin at a later date. This is called a “deferred payment gift annuity.” Because the payments are deferred, they may be higher than the payments for an immediate annuity. This option may be very attractive to those who do not need income now but wish to plan for retirement.

How will I receive my payments?

Most annuitants prefer their payments to be deposited directly into their bank account. All we need is a voided check with the authorization form signed by the annuitant and payments will be deposited on the last business day of the payment period. Contact our office for the proper form.

Who invests the Charitable Gift Annuity funds?

The Investment Committee of the Board of Directors, is directly responsible for the appropriate investment of all gift annuity funds. Because WaterStone assumes the investment risk and all responsibility for the lifetime payments to the annuitants, the asset allocation for the prudent investment of the funds is decided by the Investment Committee.

Can WaterStone provide preliminary gift annuity calculations?

Yes, WaterStone provides Deduction Calculations utilizing Crescendo Software and based on the American Council on Gift Annuities rate. We are happy to sponsor a link, where you may access Crescendo’s Gift Calculator at no charge. If you prefer, you may contact us and we will be pleased to provide calculations specific to your situation. Please provide the following information:

  • Giver/Annuitant Name
  • State of Residence
  • Annuitant Birthdate(s)
  • Gift Type
  • Gift Value
  • Cost Basis
  • Payment Commencement
  • Payment Frequency

    How do I initiate a Charitable Gift Annuity?

    In order to initiate a Charitable Gift Annuity, simply complete and sign the Charitable Gift Annuity Application and include your check (if considering a cash gift) or contact us regarding gifts of mutual funds or securities. The giver signs the application and sends it to our office.

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