Charitable Gift Annuity
A charitable gift annuity (CGA) is a gift of cash or appreciated securities. In exchange for your generous gift, we commit to providing you (or a loved one) with a fixed income for life. Beyond the annuity payments, the remaining funds support Braille Institute. A deferred or flexible charitable gift annuity is especially designed for younger donors. It makes fixed payments to you and/or another beneficiary for life, with payments starting at a future date.
Benefits of a charitable gift annuity
- Receive fixed payments to you or another annuitant you designate for life. (With a flexible gift annuity, the longer you wait to start payments, the greater the payment amount you will receive once the annuity starts).
- Receive a charitable income tax deduction for the charitable gift portion of the annuity
- Benefit from payments that may be partially tax-free
- Further the charitable work of Braille Institute with your gift
How a charitable gift annuity works
A charitable gift annuity is a way to make a gift to support Braille Institute.
- You transfer cash or property to Braille Institute.
- In exchange, we promise to pay fixed payments to you for life. The payment can be quite high depending on your age, and a portion of each payment may even be tax-free.
- You will receive a charitable income tax deduction for the gift portion of the annuity.
- You also receive satisfaction, knowing that you will be helping advance our mission.
If you decide to fund your gift annuity with cash, a significant portion of the annuity payment will be tax-free. You may also make a gift of appreciated securities to fund a gift annuity and avoid a portion of the capital gains tax. Please contact us to inquire about other assets that you might be able to use to fund a charitable gift annuity.
Additional Information
Current charitable gift annuity (payments begin within one year): With a current gift annuity, you may transfer cash or property in exchange for our promise to pay you fixed payments beginning as early as this year. You will receive an income tax charitable deduction this year for the value of your gift to Braille Institute.
Deferred charitable gift annuity (for payments at future date): Perhaps you are not ready to begin receiving payments until a future date, such as when you retire. With a deferred gift annuity, you establish the gift annuity today, receive a charitable income tax deduction this year, but defer the payments until a designated date sometime in the future. Best of all, because you deferred the payments, your annual payment will be higher when the payments start than they would have been with a current gift annuity.
Flexible deferred charitable gift annuity (gives you flexibility as to when the payments will start): With a flexible deferred gift annuity, you retain the freedom to decide when the annuity will begin making payments. As with a deferred gift annuity, you establish the annuity today and receive a charitable deduction this year, but the payments are deferred until such time as you elect to begin receiving the payments.
Contact us
If you have any questions about charitable gift annuities, please contact us. We would be happy to assist you and answer your questions.