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Simple English definitions for legal terms

charitable gift annuity

Read a random definition: Stationers' Hall

A quick definition of charitable gift annuity:

A charitable gift annuity is an agreement between a person and a charity. The person gives money to the charity and in return, the charity pays them a fixed amount of money every year for the rest of their life. If there is any money left over when the person passes away, the charity gets to keep it. This type of annuity can also help the person pay less in taxes.

A more thorough explanation:

A charitable gift annuity is a type of annuity agreement between an individual and a charity that has been approved by the government. The individual pays a sum of money to the charity, and in return, the charity provides regular payments to the individual for the rest of their life. The amount of the payments is based on the individual's age and the amount of the contribution.

For example, let's say that John wants to make a donation to a charity. He decides to set up a charitable gift annuity with the charity, and he contributes $50,000. The charity agrees to pay John $3,000 per year for the rest of his life. If John lives for another 20 years, he will receive a total of $60,000 in payments from the charity.

One of the unique features of a charitable gift annuity is that the charity will receive any remaining assets after the individual passes away. For example, if John were to pass away after receiving $40,000 in payments, the charity would receive the remaining $10,000.

In addition to providing a regular income stream, a charitable gift annuity can also provide tax benefits for the individual. By making a charitable donation, the individual may be able to reduce their income and capital gains taxes.

charitable contribution | charitable lead trust

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Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
WorthlessAttractiveZombie
7:44
My berkeley paragraph finally disappeared. I definitely think it is just an indicator that they are actively reviewing files, and does not mean anything about A, WL, or Rs
WorthlessAttractiveZombie
7:46
Also has anyone's date disappeared for W&L? Mine did last night
7:55
@WorthlessAttractiveZombie: mine did yesterday morning
7:56
Oops sorry I meant Vilanova. Mine disappeared last week
soapy
8:48
UMN under review! As predicted, decisions are gonna come out early December
Minus those random R decisions from UMN yesterday though right? I wonder what happened there. I don’t think I’ve seen a school start the season out with anything but As on here
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