Charitable Gift Annuities
How a CGA works: A 70-year-old couple establishes a $100,000 charitable gift annuity to St. Mary’s Health System Foundation. The donors will receive a fixed payment of 5.1 percent, which means they receive $5,100 each year for the remainder of their lives. They’re also eligible for a federal income tax charitable deduction when they itemize. Finally, after their lifetimes, the remaining amount will be used to support St. Mary’s Health System.
The typical charitable gift annuity donor:
- Is Age 65+
- Would like additional income
- Likes the idea of a fixed lifetime payment
- Has assets that generate little income, such as interest or dividends
- Has assets with a low tax cost basis
Want to learn more about CGAs?
Please contact the St. Mary’s Health System Foundation Office at 207.777.8863 or email: firstname.lastname@example.org