Skip to Content

Rofkars' Gift Annuity Benefits Everyone Involved

John and Helen Rofkar smilingWhen John and Helen Rofkar decided to set up a gift annuity with Otterbein Homes for Otterbein North Shore, they did it because they believe in Otterbein's mission of enhancing the quality of life and holistic growth of older persons—and because they plan to live there one day.

Barbara Radebaugh, regional director of development for Otterbein North Shore, says, "A gift annuity benefits everyone involved—the institution receiving it, the people it serves and the people making it. Basically, it's a contract where a charity, in return for cash, marketable securities or other assets, agrees to pay a fixed amount of money to one or two individuals for their lifetime. You also receive a generous charitable tax deduction on a portion of the amount donated and, also, on the annual annuity payment received."

"We toured North Shore because we're at the age where we could find ourselves in a situation of needing something more than we have at home," says Helen. The Rofkars have lived their entire lives in the surrounding area, which makes Otterbein North Shore all the more appealing. Before retirement, Helen was a nurse and Ottawa County Commissioner and John was an elementary school principal, while operating the third generation of family apple orchards on Catawba Island. "We've been talking about North Shore and building it up to our friends. It's where we'll be when the need arrives, so we put our money where our mouths are," Helen adds.

Helen and John were also influenced to make a generous donation by the people they know who live at Otterbein North Shore—people who enjoy the comfort, convenience and safety provided. It makes sense to John and Helen to move to what they call a "complete facility," where they can live independently and have the benefit of assisted living should they need it. They are also pleased that long-term nursing care will be added within the next year to complete a full continuum of care.

Charitable gift annuities are one of the most popular gift-giving methods in the United States today, says Barbara. "Gift annuities can meet a variety of objectives that include sharing what you have with a valued charity while supplementing and securing added income."

Please contact the Otterbein Homes Development Department if you have any questions or are interested in setting up a charitable gift annuity.

eBrochure Request Form

Please provide the following information to view the brochure.

First name is required
Last Name is required
Please include an '@' in the email address

Information contained herein was accurate at the time of posting. The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in any examples are for illustrative purposes only. References to tax rates include federal taxes only and are subject to change. State law may further impact your individual results. California residents: Annuities are subject to regulation by the State of California. Payments under such agreements, however, are not protected or otherwise guaranteed by any government agency or the California Life and Health Insurance Guarantee Association. Oklahoma residents: A charitable gift annuity is not regulated by the Oklahoma Insurance Department and is not protected by a guaranty association affiliated with the Oklahoma Insurance Department. South Dakota residents: Charitable gift annuities are not regulated by and are not under the jurisdiction of the South Dakota Division of Insurance.

A charitable bequest is one or two sentences in your will or living trust that leave to Otterbein Senior Lifestyle Choices a specific item, an amount of money, a gift contingent upon certain events or a percentage of your estate.

an individual or organization designated to receive benefits or funds under a will or other contract, such as an insurance policy, trust or retirement plan

"I give to Otterbein Senior Lifestyle Choices, a nonprofit corporation currently located at Lebanon, OH, or its successor thereto, ______________ [written amount or percentage of the estate or description of property] for its unrestricted use and purpose."

able to be changed or cancelled

A revocable living trust is set up during your lifetime and can be revoked at any time before death. They allow assets held in the trust to pass directly to beneficiaries without probate court proceedings and can also reduce federal estate taxes.

cannot be changed or cancelled

tax on gifts generally paid by the person making the gift rather than the recipient

the original value of an asset, such as stock, before its appreciation or depreciation

the growth in value of an asset like stock or real estate since the original purchase

the price a willing buyer and willing seller can agree on

The person receiving the gift annuity payments.

the part of an estate left after debts, taxes and specific bequests have been paid

a written and properly witnessed legal change to a will

the person named in a will to manage the estate, collect the property, pay any debt, and distribute property according to the will

A donor advised fund is an account that you set up but which is managed by a nonprofit organization. You contribute to the account, which grows tax-free. You can recommend how much (and how often) you want to distribute money from that fund to Otterbein or other charities. You cannot direct the gifts.

An endowed gift can create a new endowment or add to an existing endowment. The principal of the endowment is invested and a portion of the principal’s earnings are used each year to support our mission.

Tax on the growth in value of an asset—such as real estate or stock—since its original purchase.

Securities, real estate or any other property having a fair market value greater than its original purchase price.

Real estate can be a personal residence, vacation home, timeshare property, farm, commercial property or undeveloped land.

A charitable remainder trust provides you or other named individuals income each year for life or a period not exceeding 20 years from assets you give to the trust you create.

You give assets to a trust that pays our organization set payments for a number of years, which you choose. The longer the length of time, the better the potential tax savings to you. When the term is up, the remaining trust assets go to you, your family or other beneficiaries you select. This is an excellent way to transfer property to family members at a minimal cost.

You fund this type of trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. You can also make additional gifts; each one also qualifies for a tax deduction. The trust pays you, each year, a variable amount based on a fixed percentage of the fair market value of the trust assets. When the trust terminates, the remaining principal goes to Otterbein as a lump sum.

You fund this trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. Each year the trust pays you or another named individual the same dollar amount you choose at the start. When the trust terminates, the remaining principal goes to Otterbein as a lump sum.

A beneficiary designation clearly identifies how specific assets will be distributed after your death.

A charitable gift annuity involves a simple contract between you and Otterbein where you agree to make a gift to Otterbein and we, in return, agree to pay you (and someone else, if you choose) a fixed amount each year for the rest of your life.
Personal Estate Planning Kit Request Form

Please provide the following information to view the materials for planning your estate.

First name is required
Last Name is required
Please include an '@' in the email address