Life Income Gifts - Charitable Gift Annuity
A Charitable Gift Annuity (CGA) is a gift vehicle that will return income to you and/or a loved-one for life. You can fund a CGA with cash or property. In addition to an immediate income tax deduction, you will receive a quarterly distribution, a portion of which is tax-free. The amount of the payment will be determined by the value of the CGA and your age. You can have a single-life CGA which makes payments only to you, or you can have a double-life CGA that will make payments to you and a loved-one, or someone you designate. Ultimately the remainder of the CGA will pass to Boys and Girls Homes without probate fees or estate taxes.