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Charitable Gift Annuities

 
Charitable gift annuities (known as CGAs) are gifts that provide you and/or your designee with an income stream for life. The percentage used to determine the income stream is based upon the age of the designated annuitant in conjunction with the payout rates established by the American Council on Gift Annuities. Upon the death of the last surviving annuitant, the amount remaining in the CGA becomes a gift to a specified charity.  If sufficient in size, that remainder amount of an annuity for the Community Foundation may be used to establish a named charitable fund at the Foundation.