Charitable Gift Annuities

A charitable gift annuity is one of the easiest ways to establish a plan for giving that will also provide a lifetime of reliable annuity payments. 

At this time, The Ohio CPA Foundation does not establish or manage charitable gift annuities; however, you may name The Ohio CPA Foundation as a beneficiary of a charitable gift annuity that you establish with your financial institution’s endowment fund or community foundation. 

How it works

A charitable gift annuity (CGA) is a contract between you and the financial institution or foundation that has a CGA program. In exchange for an irrevocable gift, the institution agrees to pay you an annual fixed income for life – a fixed percentage of the original gift value, which is based on your age. The remainder becomes available to The Ohio CPA Foundation, as the beneficiary.

Benefits of a CGA

  • Immediate income tax deduction
  • Possibility of lowering or avoiding capital gains taxes
  • Payments are guaranteed for your lifetime 
  • Provides a gift for The Ohio CPA Foundation in the future

Deferred Gift Annuities

A deferred gift annuity is similar to a CGA, except that the annuity payments do not begin until a specified future date, that you choose, which must be more than one year after the date of the contribution. Because the payments are deferred, you, or other individual(s) you name, receive a higher annuity rate as well as a higher immediate income tax deduction. This option may be another attractive supplement to your retirement income.

We invite you to contact us with questions and welcome the opportunity to discuss these options further with you. We highly recommend that you also speak to a financial adviser.