We can help you...

• Payout rates range from 4.8% - 11.3% (based on age)
• Receive a significant income tax deduction

• Simplify your life by removing the responsibility and costs associated with rental property ownership

• Achieve financial security through a lifetime income guaranteed and secured by the assets of the Orange County Community Foundation

Here's how it works...

• Your guaranteed lifetime income
• Your estimated tax benefits

• A property appraisal
• Any title transfer fees

Fill out this simple form and let us calculate the lifetime income you could receive from your property.:

Do you own a rental property...

That is giving you headaches and hassles?

Yet...the income and tax benefits are too hard to give up.

We have your solution!

The comfort and security of an income that you cannot outlive!

Plus, no more of the costs or responsibilities of rental property ownership!

Example

Carol (80) gives us a rental property she no longer wants to manage. It originally cost $150,000 but is now worth $1,000,000. Under this program, Carol would receive the following benefits:

• An annual income of $68,000 that Carol will receive for the rest of her life;

• A charitable tax deduction of approximately $400,000 which represents a tax savings of $111,899 in Carol’s 28 percent federal tax bracket; and

• Carol no longer has the costs or responsibilities associated with owning the rental property.

Program Details

South County Senior Services is working in conjunction with the Orange County Community Foundation (OCCF) to bring you this program.

In return for your rental property, the Orange County Community Foundation (OCCF) will issue a charitable gift annuity (CGA) which will provide a lifetime income which is guaranteed and secured by the assets of the Community Foundation. In many instances the charitable gift annuity will provide more income than is presently being received from the rental property. Plus, you will no longer have any of the costs or responsibilities associated with rental property ownership.

Frequently Asked Questions

What is a charitable gift annuity?
A charitable gift annuity is a simple two-page contract between you and the issuing charity (Orange County Community Foundation) wherein the issuing charity agrees to provide one or two individuals with a fixed income for thier lifetime. In addition to providing a guaranteed lifetime income, a charitable gift annuity also allows you to support South County Senior Services.

Who is the Orange County Community Foundation?
Established in 1989, the Orange County Community Foundation is a 501(c)(3) public charity whose mission is to encourage, support and facilitate philanthropy in Orange County. The Orange County Community Foundation is governed by local community leaders. As of Dec 31, 2006, the Orange County Community Foundation had assets exceeding $105 million. For more information, please feel free to visit the Orange County Community Foundation web site at www.oc-cf.org. You may also obtain a free copy of the Community Foundation’s Annual Report by calling 949.553.4202.

Are charitable gift annuities secure?
The charitable gift annuity payments are a general obligation of the issuing charity. In other words, the charitable gift annuity is backed by the Foundation’s entire assets, not just by the property contributed.

In order to further secure the promise to provide the fixed lifetime income, the Orange County Community Foundation will in most cases contract with a major insurance company to also financially back its charitable gift annuity promise thereby making OCCF’s charitable gift annuity program the only program in California with this double layer of financial protection.

Finally, the Orange County Community Foundation is licensed and regulated by the California Department of Insurance to issue charitable gift annuities. Although regulated by the California Department of Insurance, charitable gift annuities are not insured or guaranteed by the California Insurance Guaranty Association.

What are the charitable gift annuity payout rates?
Like most charities across the country, the Orange County Community Foundation has adopted the charitable gift annuity rates suggested by the American Council on Gift Annuities (ACGA). The charitable gift annuity rates established by the ACGA are based upon the assumption that fifty percent (50%) of the initial gift may remain for charity when the annuitant passes away. Charitable gift annuity payout rates under this program can range from 4.8% to 11.3% depending upon your age. For more information about charitable gift annuities and/or the American Council on Gift Annuities, please click here (http://www.acga-web.org/).

How does this help South County Senior Services?
As you will recall, a charitable gift annuity is part lifetime income and part charitable gift. South County Senior Services receives the "charitable gift amount" from whatever remains after satisfying the obligation of providing the lifetime income pursuant to the charitable gift annuity agreement.

How much income will I receive?
The amount of income you can expect to receive depends upon a number of factors including your age and the fair market value of your property. The complimentary proposal will show you the income you may be able to receive under this program.

What are the tax benefits?
Because a charitable gift annuity is part lifetime income and part charitable gift, you will receive a sizeable income tax deduction for the charitable gift portion. Your actual tax deduction will depend upon a number of factors including your age, the fair market value of your property and the applicable federal rate. The complimentary proposal will show you the tax deduction you may be able to receive under this program.

Do I have to sell my property?
No. After reviewing your complimentary proposal, should you decide to proceed under this program, the Orange County Community Foundation will be responsible for selling the property.

Does this program work for out of State properties?
Perhaps. The answer depends upon State specific regulations.

What if I still have debt on the property?
The Orange County Community Foundation can accept property with some debt. In such cases, OCCF can issue a charitable gift annuity based upon the value of your equity/ownership in the property. Although debt encumbered property can be accepted we have found that the amount of debt on the property should be limited, usually to about twenty five percent (25%) of the property’s fair market value.

Does this program apply only to rental properties?
No. This program will work with any type of real property and will also work with other types of appreciated capital assets including stocks, mutual funds and or other business interests.

If you are interested in learning about how South County Senior Services and the Orange County Community Foundation can help you and would like someone to speak to about this program, please fill out the form above for your complimentary quote or contact Becky Lomaka at [949] 855-8033.