A Charitable Gift Annuity (CGA) is a giving instrument for one or two individuals that provides guaranteed fixed income for life. With a minimum contribution of $10,000, a CGA provides:
- Fixed annual income
- Income payments when desired (monthly, quarterly, etc.)
- Tax deductible contribution in the year of the gift
- Avoidance of up-front capital gains on gifts of appreciated assets
- CHOICE of ministry(ies) to receive remaining funds
CGA rates are based on the age of the annuitant(s) at the time the CGA is established.
CGA Example: Mr. Jones, age 75, wants to benefit his church. He has some CDs that he is using as investments and his desire is to use some of his funds to benefit his church. His CDs are receiving little income, so when a $20,000 CD matures, he redeems it to establish a gift annuity. He will receive a charitable deduction of $9,006 in the year of the gift and will receive payments of $1,160 annually (based on a rate of 5.8%) for the rest of his life. After his lifetime, funds remaining will be given to his church!
For more information, check out our brochure: CGAs – Simple Gifts
To view your personal Charitable Gift Annuity illustration, go to the following link: CGA Illustration
OR complete the form below to receive a printed illustration from the Foundation: