gift annuity
A term to know.
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