Solutions

Who needs a Charitable Gift Annuity?

Do you have an asset or cash you’d like to give away but are concerned you may need it in retirement? If you want to make a gift to one or more of your favorite charities, but you need the certainty of a fixed income for retirement, a Charitable Gift Annuity (CGA) might be what you’re looking for.  

A CGA is a charitable solution for those who have a heart to give but want a source of ongoing income. CGAs provide fixed payments for life at rates generally higher than CDs, and a portion of your payments are often tax-free. 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, payments can go to a family member or friend instead.

Here are some of the benefits of a CGA:

  • Allows you to give to charity, even in retirement
  • Provides fixed payments for the rest of your life
  • Can be funded with cash, stocks, or assets
  • Removes assets from your taxable estate
  • Is extremely simple to set up

Learn more about Charitable Gift Annuities.

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