Charitable Gift Annuities
A Charitable Gift Annuity (CGA) is a contract with a nonprofit organization, in which you provide a gift and, in exchange, the nonprofit guarantees you income for life.
Gift Annuities allow you to plan payments of fixed income now or in the future. Your gift now provides you with an immediate income tax deduction. When the CGA matures, the remaining balance of your gift is made available for the purpose you designated. The payouts of the CGA are determined by the amount of your gift and the age of the beneficiary.
Benefits of Charitable Gift Annuities
- Provides an appealing alternative to CDs
- Guarantees income, partly tax free
- Lowers income tax
- Reduces capital gains tax
- Supplements retirement income
- Allows you to provide income for others
- Provides the satisfaction of supporting your favorite charity and making a difference in your community
Your Gift Annuity Contract:
Decide how you will fund your CGA: cash or appreciated assets are the best vehicles to fund your CGA
Minimum amount: $10,000 per contract
Minimum Donor age: 60 year s old for an immediate CGA Contract; Deferred CGA Contracts can be established at any age and begin distributions at age 60
Decide if the income distributions are for One or Two Lives; as well as if you want Immediate or Deferred distributions. You can also decide if your distribution will be sent to you by check, or as an electronic deposit to your personal savings or checking account.
Learn more about the steps in thoughtful planning. The Catholic Foundation of Greater Philadelphia is established to be a tool for you to leave a lasting and secure legacy. Use our request for information form to learn more.