Charitable Gift Annuity
How It Works
- You transfer cash or securities to Clara Maass Medical Center. Our minimum suggested gift requirement is $20,000.
- Clara Maass Medical Center pays you, yourself and a spouse, or any two beneficiaries you name, fixed payment for life.
- Beneficiaries are recommended to be at least 68 years of age at the time of the gift.
- The remaining balance passes to Clara Maass Medical Center when the contract ends.
- Receive more income for your money because of higher rates.
- Receive dependable, cash-flow for life, regardless of fluctuations in the market.
- In many cases, receive payments at a rate higher than the interest you are currently receiving on investments.
- Receive an immediate income tax deduction for a portion of your gift.
- A portion of your annuity payment will be tax-free for a number of years.
- Are you a younger donor? Consider a deferred gift annuity.
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