Covenant Health is an innovative, Catholic regional delivery network and a leader in values based, not-for-profit health and elder care. We sponsor hospitals, nursing homes, assisted living residences and other health and elder care organizations throughout New England.
LOCATIONS

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: foundation@stmarysmaine.com

St. Mary's Health System • 93 Campus Avenue • Lewiston, ME 04240