A charitable gift annuity provides an immediate gift to C.D. Howe Institute while providing a secured income stream for the donor during their lifetime. Depending on the donor’s age, this income can be tax-free. A portion of the total contribution is used to purchase the annuity from a licensed insurance company and the balance is retained as a donation for which a tax receipt is issued.
Benefits to the donor
- Tax receipt for the difference between the total gift and the cost of annuity.
- Guaranteed income for life for the donor without investment management worries.
- Annuity rates are typically much higher than the return on guaranteed interest income investment and are fixed for life.
- Avoids probate costs associated with a charitable bequest.