Charitable Gift Annuities
A charitable gift annuity (“CGA”) provides a fixed lifetime income payment to you as the donor(s), or to one or two life income beneficiaries (annuitants) you may designate. After the death of the annuitant(s), the remainder of the gift is transferred to your designated charity’s account at FFC.
Benefits of a Charitable Gift Annuity
- A charitable deduction in the year you make the gift
- A portion of the annual income amount tax free for life expectancy of the annuitant(s)
- Fixed payments for life based on the rates from the American Council on Gift Annuities
- Assurance that ongoing investment and gift administration is in accordance with state and federal laws
- Confidence that your gift is invested responsibly in harmony with Friends concerns for peace, the environment, and social and economic justice
- Assurance that the designated Quaker charity or Friends concern will benefit from the charitable remainder
Charitable Gift Annuities carry no direct fees to you or your designated charities. Friends Fiduciary charges the CGA asset pool an annual administrative fee, in addition to investment and bank fees.
Assets to Give
A CGA may be established with a gift of cash, appreciated securities, or a combination of both. If you fund the annuity with a gift of appreciated securities that have been owned for more than one year, a portion of the capital gains tax (that would be due if the donor sold the stock to fund the CGA) is avoided. The remaining portion of the capital gains tax is paid proportionally over the donor’s life expectancy period.
Friends Fiduciary can provide you with illustrations, calculations and information on Charitable Gift Annuities, including an estimated charitable deduction for the gift annuity. For an illustration please contact Mmi Blackwell at 215-241-7272 or firstname.lastname@example.org. Click here to use our Online Gift Calculator.