A charitable gift annuity is a contract between a charity and a donor. In return for a donation of cash or other assets, the charity agrees to pay the donor — and/or someone designated by the donor — a fixed payment for life. The donor can claim an immediate charitable tax deduction for the amount of transfer above the value of the annuity purchase.
If a donor funds a gift annuity with long-term capital gain property — e.g., with appreciated stock — the donor will report only some of the gain, and may be able to report it in installments over many years. Donors can also establish a deferred charitable gift annuity to defer receiving income from the gift annuity for a period of years.
OCF will consider issuing gift annuity contracts for annuities originating in Oregon that meet these guidelines:
Minimum age of the annuitant is 60 (55 for deferred gift annuities).
Annuity rate does not exceed the rate published by the American Council on Gift Annuities.
Minimum gift amount is $25,000.