Create a Charitable Gift, Increased Income, and Joy

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. 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. CGAs 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, in addition to income you receive a charitable tax deduction for the gift portion of your agreement. In addition, part of the income you receive will be tax free.