|
Types of Annuities -
Charitable Gift Annuity |
Back |
Charitable Gift Annuity
A charitable gift annuity is classified as a donation to a charity in exchange for a single or joint life income. The income is taxed the same way an immediate annuity is taxed. The payments will include an "exclusion ratio" which determines the amount of the payment to be considered return of principal and the portion considered to be interest.
Features will vary by company and product. Please refer to
Glossary for definitions
|
