HAPPINESS IS ....Giving us your MONEY!!!!!!!! (page 2)

Gill

Why have cheques got to be made payable to' Watch Tower', rather than Watchtower, Bible and Tract Society.

Are they a different company?

Honesty

Does anyone remember the Service Meeting 'talk' about the little publisher in Guatemala that had a pet chicken?

He had raised his pet chicken from an egg. He found out the wealthy brothers in North America didn't have enough money to keep their Kingdom Halls operating.

This little publisher from Guatemala took his chicken down to the village market in the middle of town and sold it to the butcher for ONE US DOLLAR.

This little publisher in Guatemala felt so bad for the wealthy brothers in North America who could not keep their Kingdom Halls operating that he sent the US DOLLAR he was paid for his pet chicken by the butcher to Brooklyn Bethel to help out the brothers in North America.

There was hardly a dry eye in the Kingdom Hall when the brother finished his 'talk' about the little publisher in Guatemala and his pet chicken that he had raised from an egg.

Gill

I HATE that story! It better be a lie or there's going to be some burnt GB asses in the after life!!!!

Atlantis

jrjr4189:

Like Blondie mentioned, they do this every year so here is the contribution information for 2001. Watchtower-2001-November-1-pp.28-29 http://www.datafilehost.com/image.php?file=4e077db4 http://resized.file.sc/anon/X5MtV8sK.jpg Cheers! Atlantis-

Atlantis

Scroll down close to the bottom of the page. http://www.iid.state.ia.us/about_us/ProductReg/LifeHealth/cga.asp Charitable Gift Annuity Registrants

Village Northwest Unlimited
Wartburg College
Washington State University Foundation
Watchtower Bible & Tract Society of New Yor, Inc. (Watchtower Society)
Wels Foundation, Inc
Wesley Retirement Services
Wesley Seminary Foundation, Inc.
West Virginia University Foundation, Inc.

Cheers! Atlantis-

MidwichCuckoo

Charitable Gift Annuity Registrants

How does it operate?

jrjr4189

Thanks for the 2001 Watchtower scan. I'll have to try and get my hands on the 2006 scan.

Can someone explain to me what the charitible organizations list is??

NewYork44M

There is a tax benefit....other organizations offer a similar one. I have one through my employer...deferred compensation.

That is a gift you can give to yourself - you 401(k) pension program. It has the same tax benefits as a contribution but you end up with the cash.

dobbie

Glad i cancelled our magazines that article would make my hubby really cross!He has said to jws time and time again that to repeatedly ask and remind about donations is no better than passing round the collection plate, and that if its the troof they don't need to ask for money, Jehovah would take care of them, but none of them can see it. They must be getting hard up to be asking for our jewellery now as well!

Atlantis

MidwichCuckoo:

Here is an explanation given by "Heritage" Foundation! http://www.nhf.org/charitable_planning/charities_gift_annuities.htm Gift Annuities with the
National Heritage Foundation

The National Heritage Foundation uses the services of American Preferred Services for all planned giving programs. If you have specific questions regarding gift annuities, you can contact George Brown at 800-822-6711, or online at [email protected].

There are no initial fees or annual administration fees to the donor for the National Heritage Foundation Gift Annuity program. A Charitable Gift Annuity is simply an agreement between a donor and the National Heritage Foundation. In exchange for an outright and complete gift of, say $100,000, the National Heritage Foundation will make payments to the annuitant for life. These payments are guaranteed by the full faith and credit of the National Heritage Foundation, and virtually all of its assets stand behind the obligation to make the payments.

By definition, a Charitable Gift Annuity is what is referred to as a split gift. Part of the gift is to be used by the charity immediately for its charitable purposes, and part of the gift is set aside in a reserve account to be invested and used to support the payments to the donor/annuitants. Such payments include the earnings on the reserve account and a part of the principal in the reserve account. The ratio of these parts, that is, the parts that are principal and earnings, depends upon the age of the annuitant.

The reserve account is maintained specifically to support the gift annuities issued by the National Heritage Foundation. >From a regulatory viewpoint, the reserve account must assure that at least 50% of the original gift be remaining for the charity at the actuarial life expectancy of the donor pool.

Most charities will set aside an amount of approximately 75% of the original gifts, and use approximately 25% of the original gift for their current needs. The regulations do not allow any more than 90% of the original gift to be placed in the reserve account, and require that at least 10% of the original gift be used for the current purposes of the charity. If this is not done, the agreement will be null and void and will not meet the requirements of the regulations governing gift annuities.

It is the practice of the National Heritage Foundation that virtually all new gift annuities have 90% of the gift placed in the reserve account. The purpose of this is to maximize the amount of remaining reserve that will be conveyed at the death of the annuitant to their favorite charity. The remaining amount may be more or less than the 90%, depending primarily upon the age of the donor/annuitant.

For example, a person 90 years old is entitled to a payment rate of 12% per year. If our earnings average only 8% or 9% per year, we are going to have to distribute some of the original principal from the reserve account. Regardless of what happens to the reserve account for any given charitable gift annuity, the National Heritage Foundation is legally responsible for making the agreed upon payments for the lifetime of all of the annuitants.

Most annuitants have a foundation account at the National Heritage Foundation, to which the remaining reserve account will be distributed at their death. They may provide instructions that such amount be immediately distributed to their church, or other favorite charity. Many annuitants prefer to leave the funds in the account, and leave it to their heirs to determine just how to distribute the funds. Some families decide to distribute only part of the income, and let the funds build into a larger endowment.

Other families use the account to support their own community service activities, by having the National Heritage Foundation pay them a salary for such service, or by having other family members work for their family foundation.

The National Heritage Foundation does, indeed, take a risk by issuing gift annuities, in that some annuitants my outlive their reserve account. This could happen especially if a 90-year-old annuitant lives beyond the age of 100 or more.

In order to create an additional reserve for this contingency, the National Heritage Foundation assesses a fee of 5% of the remaining reserve account at the death of each annuitant, prior to its ultimate disposition. This is placed in a special contingency account to assure that there will always be adequate funds to make annuity payments.

You can contact George Brown at American Preferred Services (800-822-6711) to provide you with an illustration of exactly how a gift annuity would work for you. He will need to have the names, dates of birth and the amount of the proposed gift. If the gift is to be in the form of securities that are appreciated above their original purchase price, he will need to know the purchase price.

There is no obligation at all for this illustration, and it can be e-mailed directly to you.

We have many churches and other charities which rely upon us to create gift annuity programs for their members, mainly because they do not feel large enough to take the risks of guaranteeing payments to annuitants for their lifetimes. The National Heritage Foundation, on the other hand, with approximately $200 million in assets, is quite comfortable in dealing with that issue.

Nevada-

HAPPINESS IS ....Giving us your MONEY!!!!!!!!

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