Doug Harmon – Creating a CGA

A Reconversion Inspired a Charitable Gift

Having left the Church for over 20 years, Doug Harmon was willing to give it a second chance when his sister-in-law invited him and his wife, Katrina, to attend the Christmas service with her at the Church of the Purification of the Blessed Virgin Mary in Sharon. He thought it might be a sign to return to the Church, and after experiencing a powerful encounter during Mass and receiving many blessings, he knew he was right.

Eager to give back to his Catholic community but unsure where to start, he happened to talk to someone after Mass who was a board member at Heritage and the Catholic Foundation of North Georgia. She shared with him some options for charitable giving and after some researching and talking to the Catholic Foundation staff, he made the generous and savvy decision to open a charitable gift annuity (CGA).

A CGA serves as a contract between a donor and the Catholic Foundation where, in exchange for the donor’s charitable gift, the Catholic Foundation pays the donor a fixed income for the rest of his or her life. Upon the donor’s passing, the annuity ends and the remaining principal goes to the endowment fund the donor selected when establishing the CGA.

Doug used a qualified charitable distribution from his individual retirement account (IRA) to create the charitable gift annuity, which provided him with an additional tax benefit. Beyond its financial benefits, the CGA has allowed Doug to both express his gratitude and give support to the Purification Heritage Center where he now attends Mass regularly.

If you’re feeling inspired by Doug’s story, contact us to see if you qualify for a charitable gift annuity today!