Charitable Gift Annuities

Charitable Gift Annuities (CGAs) are a win-win situation. The “win-win” comes when you donate to a charity you love, and in return, the charity commits to providing you with fixed payments for life.  To learn more, keep reading about how CGAs work and why you should consider one.

Understanding Charitable Gift Annuities

CGAs are a unique blend of immediate tax relief, lifelong income, and the satisfaction of contributing to a valuable cause. When you create one, you donate cash, stocks, or other appreciated assets to the charity. In return, the organization agrees to pay you a fixed dollar amount annually for the rest of your life. This arrangement is like annuities, where your primary investments yield regular financial returns.

Why Should You Consider a Charitable Gift Annuity?

There are lots of great reasons to consider funding a CGA:

• You Can Make a Big Charitable Gift: CGAs let you donate large amounts to causes you care about. The more you donate, the higher your payments will be. That will help you maintain your lifestyle when you retire.
• Get Dependable Payments for Life: You’ll enjoy fixed payments that never change, no matter what happens in the markets. Payments are reliable because your favorite charity’s total assets back them.
• Receive Partially Tax-Free Payments: Part of every payment is tax-free, which puts more money in your pocket. This is especially attractive when funding CGAs with appreciated investments.
• Claim a Tax Deduction: When you set up a CGA, you’ll receive an income-tax deduction.
• Simple to Establish and Maintain: CGAs are easy to set up and keep. Most charities will handle everything and send you hassle-free on-time payments.

Begin Your CGA Journey Now

Establishing a Charitable Gift Annuity (CGA) is an impactful strategy for philanthropists who want to make a difference. It allows you to positively impact your community while taking advantage of significant financial benefits.

If you’re looking for ways to give back, consider setting up your CGA with Long Island Cares. Besides the countless financial advantages you’ll have, your contribution helps us fund our initiatives and feed hungry families on Long Island. Don’t hesitate to learn more about how your planned gift can help sustain and expand our efforts. Together, we can create lasting change and support those who need it most.

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