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An annuity payable by a charity, usually for the life of one or two individuals, in return for the gift of cash or other assets. The gift is really a part sale/part gift, since the donor is receiving the annuity, but the present value of the annuity is less than the amount transferred to charity, so a portion is also treated as an outright charitable gift.

Synonyms: CGA, CGAs, charitable gift annuities, charitable gift annuity, gift annuities
Synonyms list (a comma-separated list)
CGA, CGAs, charitable gift annuities, charitable gift annuity, gift annuities