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| Charitable Gift Annuities |
A charitable gift annuity is a simple contract between the donor and The Community Foundation.
In exchange for an irrevocable gift of cash or securities, the Foundation agrees to pay you - or you and your spouse - a fixed sum each year for your lifetime.
After the death of the last annuitant, the annuity's principal establishes or is added to an endowment fund at The Community Foundation, supporting the charitable causes you designate.
Aspects of a charitable gift annuity: |
- The donor receives an income tax charitable deduction in the year the gift annuity is created.
- Annuity payments are based on a standard rate table. The older the annuitant(s) at the time of the gift, the greater the income stream available.
- A charitable gift annuity can begin payments immediately, or at some future date. This can be an excellent complement to other sources of retirement income.
- A charitable gift annuity can increase the current income available from donated assets when compared to the sale and reinvestment of the same assets.
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