Charitable Gift Annuities
A Charitable Gift Annuity (CGA) is a simple contract between a donor and Sarah Bush Lincoln. It gives the donor the opportunity to make a charitable gift and secure annual income for his or her life. Under this arrangement, the donor transfers cash or securities to Sarah Bush Lincoln to fund the annuity. SBL then creates a contract and agrees to pay the donor a fixed and guaranteed payment for the remainder of the donor’s life. The total annual payment, which can be paid monthly, quarterly, semiannually, or annually, does not change. Upon the death of the donor, the remaining principal is retained by Sarah Bush Lincoln and directed to the Sarah Bush Lincoln program or service the donor chose to support when the CGA was established.
SUMMARY FOR CHARITABLE GIFT ANNUITY:
Document that creates: Annuity contract
Ultimate beneficiary? To benefit charities of choice
Lifetime beneficiary? Donor and/or other
Annual benefit: Fixed