A charitable gift annuity is available through an arrangement with the North Dakota Community Foundation. You may give cash or an asset, such as stock or a certificate of deposit, to the Farm Rescue Foundation and receive a lifetime annuity payment for you and, if desired, your spouse. In addition to the regular payment you receive, part of which is taxable and part of which is tax free, you may take a charitable tax deduction for a portion of the gift. Upon death, the remaining principle becomes part of the Farm Rescue Foundation.
In order for your gift to be considered legally sound, you must attach the following legal statement with your gift:
“I give, devise, and bequeath to the ‘Farm Rescue Foundation,’ an IRS designated 501(C)3 nonprofit charitable corporation, located in Horace, North Dakota, the sum of $________(or a description of the specific asset), for its general purposes.”
