Charitable Gift Annuity
The Charitable Gift Annuity is one of the oldest, simplest and most popular methods of making a deferred charitable gift. The donor makes an irrevocable gift today in exchange for a current lifetime income - a life interest. The charity receives what is left after the donor's lifetime - a charitable remainder interest. The donor is entitled to a charitable income tax deduction in the year the gift is made.
The Charitable Gift Annuity is a contract between the donor and the issuing charity. The promise to pay the annuity is a general obligation and is backed by the charity's assets.