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Charitable Gift Annuities

     

Charitable Gift Annuities

What is a Charitable Gift Annuity (CGA)?

A Charitable Gift Annuity is an irrevocable transfer of cash to the Cummings Jewish Centre for Seniors. In return, the Cummings Centre is contracted to pay you (or you and your spouse in the case of a joint annuity) guaranteed income for life at a constant rate of return.

You must be a minimum of 60 years of age and donate a minimum amount of $ 7,500.

Twenty-five percent (25%) of the Charitable Gift Annuity is a gift to the Cummings Jewish Centre for Seniors, for which you get an immediate tax receipt. With the balance, the Centre secures a lifetime annuity from an insurance company that pays you income at a highly competitive rate, which is mostly tax-exempt.

A Charitable Gift Annuity is a wonderful and creative way to make a significant gift to the Cummings Jewish Centre for Seniors and get a high rate of income back for your LIFETIME!

For more information, contact Cathy Simons Foundation Director at 514.343.3529 ext. 7229 or
e-mail at cathys@cummingscentre.org.
 

 

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