Charitable Gift Annuity Program
It is an important Jewish tenet to support the institutions that help us live meaningful Jewish lives. By designating B’nai Jeshurun as a beneficiary of your gift annuity, you will help sustain the many rituals and practices, spiritual experiences, and educational and social programs that are so vital to our Jewish community and crucial to ensuring the continuity of our people.
… As my fathers planted for me before I was born so I plant for those who come after me.
I think I’ve heard of a charitable gift annuity before. What exactly is it?
A charitable gift annuity (CGA) enables you to give charitable contributions to B’nai Jeshurun and receive financial benefits for yourself. When you create a CGA, you will receive guaranteed income for life, and the potential for an immediate tax deduction and future tax savings. In fact, because of these benefits, many donors find that a CGA enables them to give more philanthropically than they ever thought possible.
Do I have to be wealthy to create a CGA?
No. The minimum amount required to set up a CGA is only $10,000. And with the tax savings and guaranteed income from a CGA, you may find that it is easy to make a substantial charitable contribution to B’nai Jeshurun.
How does the CGA program work, and how does it help B’nai Jeshurun?
UJA-Federation of New York administers the program on behalf of many charities, including B’nai Jeshurun. Annuity payments to you will come from UJA-Federation, and ultimately 90 percent of the remainder value will go to B’nai Jeshurun. The remaining 10 percent will go to UJA-Federation, which supports the entire Jewish community and helps cover the administration of the CGA program.
How do I create a CGA?
Creating a CGA is very simple. It is an agreement between you and UJA-Federation. As part of the agreement, UJA-Federation is obligated to pay you an annual income for life, based on your age, starting at age 65.
What are the benefits?
With a CGA, you have the opportunity to lock in a high fixed rate of return for life, and the potential for immediate tax deductions. You can also make a lasting impact on the community you care so much about. Because annuity payments begin at age 65, a CGA can be a useful retirement-planning vehicle.
For those younger than 65, a deferred CGA may be established to yield potential immediate tax deductions, as well as retirement security for the future.
Two-life CGAs are also available. In this case, the annual income payments usually continue through the last survivor’s lifetime.
Charitable Gift Annuity Rates
To discuss the charitable gift annuity program and other planned giving opportunities, contact Jennifer Rubenstein at 212-787-7600 x252.