Charitable Gift Annuity (CGA)
A CGA is a simple arrangement that involves a charitable gift and an annuity. You make the gift (part of which is tax deductible), and then you receive fixed annuity payments each year for the remainder of your life. If you wish, you can have the payments go to a family member or friend instead. Our commitment to pay your annuity is a legally binding contract, and we have never missed an annuity payment.
This is a type of gift transaction where an individual transfers assets to a charity in exchange for a tax benefit and a life time annuity.
With this annuity, when the beneficiary dies the annuity payments are stopped and the charity retains the remaining funds. A Charitable Gift Annuity provides a charitable donation, an income tax deduction and guaranteed life time income stream.