Very few people would refuse an increase to their income if offered. It is common to want to be able to afford items of necessity and to have extras. Many also desire to be able to give more to the ministries they love. There may be a way to do both—with a charitable gift annuity.
When you create a charitable gift annuity, often known as a CGA, you enter into a contract with a charity. You donate a gift of cash, securities or other assets, and in return the charity provides you with a fixed stream of income for the remainder of your life.
Individuals or couples can set up charitable gift annuities. CGA’s are very popular because they can be funded with a variety of assets that might otherwise sit unused or produce minimal income. With a charitable gift annuity, you receive income plus a charitable tax deduction for the gift portion of your agreement. In addition, part of the income you receive will be tax free.
A Guide to Charitable Gift Annuities
With a charitable gift annuity, you may increase your income even as you make a gift. If you are retired or near retirement, if you have appreciated assets, or would simply like to know how you can make a charitable gift and retain the income, follow the link using the button below to download our special planning report, A Guide to Charitable Gift Annuities. It will give you many details about how this agreement could work for you.
And if you would like to have a conversation with a staff member about CGAs, please contact us.