A charitable gift annuity (CGA) is a contract between a donor and the UGA Foundation. The donor transfers cash or securities to the Foundation in exchange for quarterly payments in the form of a guaranteed fixed annuity to the donor, another designated beneficiary, or both. When the annuity matures, the principal reverts to the Foundation and may be designated to benefit a specific area.
A minimum contribution of $10,000 is required to fund a CGA. Annuitants must be 60 years of age or older when payments begin. If a donor wishes to establish a CGA before the annuitant meets the minimum age requirement, annuity payments will be deferred until the age requirement is met.
To ensure that the donor fulfills his or her desire to benefit the University, the maximum rate of return on the annuities will be the annual rate according to the American Council on Gift Annuities guidelines.
The regulation of gift annuities varies from state to state. For this reason, the gift annuities described here may not be available in all states.