Income for Life
A charitable gift annuity is a simple agreement between a donor and a nonprofit organization that will pay the designated annuitant a fixed and guaranteed annuity payment for life in exchange for a gift, usually cash or marketable securities.
Both the donor and Maine Public benefit from a charitable gift annuity. The donor receives a tax deduction for a portion of the gift along with a guaranteed income for life. Maine Public will benefit when the residual of the gift is realized and will be put to use toward the fulfillment or the organization’s mission.
Who is eligible to participate?
If immediate payments are requested, the donor must be 65 or older. A deferred payment gift annuity is allowable for anyone age 35 or older. A maximum of two life income beneficiaries are allowed.
What is the minimum gift to participate?
A minimum of $10,000 is required to participate in Maine Public’s gift annuity program. Gift annuities can either have an immediate payout (depending upon your age) or can be established to defer payments until a later age.
What kind of gift can I make to fund the annuity?
Cash or readily marketable securities are recommended to fund your gift annuity, but other assets can be considered as well.
What are the current annuity rates?
Maine Public currently uses rates recommended by the American Council on Gift Annuities. Please contact us for current rates by getting in touch with Scott Marchildon at 207-330-4510 or email@example.com today — and thank you!