What is a Charitable Gift Annuity?

Creating a charitable gift annuity is a way to contribute to the Western Pennsylvania Conservancy, receive a generous guaranteed income for life, and benefit from tax savings. A charitable gift annuity, or CGA, is a simple contract between the donor and the Western
Pennsylvania Conservancy. In return for a gift of cash or marketable securities, WPC agrees to pay fixed dollar payments over the life of the beneficiary. CGA's may be created with a gift of $10,000 or more and in general you must be age 65 years of age or older to qualify. A charitable tax deduction is given for a portion of the gift creating the annuity and there may be additional tax benefits when funded with appreciated securities.

The annuity rates WPC offers are based on your age - the older you are, the higher the rate. For example, if you are age 75, your annuity rate is 7.1 percent. By establishing a CGA today with a cash gift of $10,000, you will not only receive $710 annually for life from WPC, you have an immediate charitable deduction of $4,749. Furthermore, a portion of your annuity income ($423 of the $710 total) is tax-free for the next 12.4 years. Best of all is your knowledge that WPC will receive the funds remaining in the gift annuity at its termination and will use them to secure the future of western Pennsylvania's natural resources.

For more information, please contact Karen Crenshaw at 412-586-2356, Western Pennsylvania Conservancy, 209 Fourth Avenue, Pittsburgh, PA 15222 or via e-mail at kcrenshaw@paconserve.org.