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Changing the World, One CGA at a Time

Summer 2016

As they considered retirement, Chuck and Mimi Hanzel were delighted that the value of their home had increased, but they faced significant taxation on this capital gain. They also had concerns about monthly income in the future. Then they learned that a charitable gift annuity (CGA) would give them a significant tax deduction and a monthly income for life.  Most importantly, it would enable them to help change the world through philanthropy.

It was this last factor that inspired Chuck and Mimi to create two charitable gift annuities that would benefit four nonprofits, one of which is their new home, MonteCedro. They chose to support MonteCedro’s Employee Education Fund by endowing the Chuck and Mimi Hanzel, PhD, Scholarship.  “Education has been a life-long pursuit for me. I know what a difference it makes,” said Mimi.

The Hanzels also made the inaugural gift to the MonteCedro Benevolence Fund, which will be there to help residents in the future who, due to unanticipated circumstances beyond their control, are unable to afford the cost of their care and services.

In addition to MonteCedro, the Hanzels’ philanthropy extends their legacy through three other charities. One is Central Catholic High school in Pittsburgh that left such an impression on Chuck. “That’s where I learned the self-discipline that has served me so well,” he said. The second is St. Edmund’s Episcopal Church, where the Hanzels have been members for 45 years. They are also long-time supporters of Carousel Ranch, where children with disabilities receive treatment through horse therapy.

“The mechanics of these gifts help us with taxes and monthly income, but our main goal is to give back to our community and to make a difference in people’s lives,” says Mimi. On behalf of the MonteCedro family, we are grateful to the Hanzels.

Above photo of MonteCedro residents, Chuck and Mimi Hanzel.

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