Charitable Gift Annuities Impacted by Financial Crisis
The financial crisis has begun to have an impact on something known as a charitable gift annuity or simply gift annuity. Tax deductible gifts to charitable organizations can be made in exchange for the promise of guaranteed, annuity-like payments from the charity to the donor. Some charities purchase insurance policies to fund the promised annuity payments while others simply rely on existing assets and the overall financial health of the organization. Not surprisingly, financial market turmoil...
Key Phrases:
