Lake Aurora Christian Camp & Retreat Center

Charitable Gift Annuities

Answers to Your Questions

Q    If I place a gift annuity with Lake Aurora Christian Camp, what security do I have for my future?

A    Lake Aurora Christian Camp has met the requirements of the Florida State Department of Insurance to issue donor annuity agreements according to the Donor Annuity Law (Section 627.481 Florida Statutes). For your protection, a sufficient amount will be held in reserve to insure income for life. The service of an outside professional management firm will manage and invest the annuity funds. Your welfare is one of our primary concerns.

Q     Who determines how much of my original gift is tax deductible, and what portion of the annuity payments are tax free?

A     A Certified Public Accountant supplies these figures for each individual annuity gift. They are derived from tables published by the Internal Revenue Service.

Q     Can one provide an annuity for another?

A   Yes, and it doesn't have to be a relative. Churches may provide for retired ministers and missionaries through gift annuities. Business firms can use annuities to provide for retired employees and obtain a tax advantage.

Q     Is there a limit on the amount of money or property I can contribute as a gift annuity?

A     None. You can give $3,000 or a million. All provide the same percentages for you. While $3,000 is the minimum amount, there is no upward limit.

Q     Are there different types of annuity contracts?

A     Yes, two kinds.

       (1) Single: one person only is   (2) Joint or Survivorship: two annuitants receive payments jointly. When one passes on, the survivor continues to receive the full payment.

Lake Aurora Christian Assembly, Inc.