A charitable gift annuity ("CGA") is an agreement between a Charity and one
or two individuals in which the Charity, in return for a gift
of cash, securities or other assets, agrees to pay a fixed
dollar amount to the individual(s) for their lifetime(s).
Annuity payments made by the Charity are generally partially
taxable to the individual and partially a return of principal.
The individual donor(s) receives a charitable income tax deduction
at the time of the gift based on the value of the charitable
portion of the gift.