Charitable Gift Annuities
If you have a donor seeking to establish a charitable gift annuity, we can help. The Community Foundation has a license by the New Jersey Department of Banking and Insurance that enables us to issue charitable gift annuities for the ultimate benefit of your charity.
It’s simple to do. Your donor establishes a Charitable Gift Annuity with the Community Foundation specifying your charity as the beneficiary. The donor receives a lifetime income based on the value of the gift and annuitant rates.
On average, at the end of the life of the donor there will be one-half of the original principal amount to be paid to the charity. The other one-half will have been consumed by payments out to the donor annuitant in excess of what the annuity payment is expected to earn.
If the donor outlives their life expectancy, the Community Foundation, not the charity, maintains the responsibility of paying into the pool to offset the difference between expected and actual numbers.
Fees: CFNJ does not charge a fee for facilitating the Charitable Gift Annuities. The Administrator of the CGA charges portfolio management fees of 65 basis points on the balance of assets, plus $80/year/contract. As compensation for the risk involved with providing the service, CFNJ will retain 5% of the residual annuity at the time of the final payout to the designated charity.
Questions? Contact Susan Soldivieri at 973.267.5533 x 224 or by email.
Nonprofit Beneficiaries under the Charitable Gift Annuity and Pooled Income Programs
A Donor can easily establish a Charitable Gift Annuity that provides both a way to receive a guaranteed lifetime income and a way to insure that his/her favorite charity will receive a financial benefit in the future. Currently over forty New Jersey nonprofits are beneficiaries under our Charitable Gift Annuity and Pooled Income programs.
- Alliance for Morris Parks
- American College Alumni Association, Catholic University of Louvain
- Bishop Mahurter Homeless Shelter
- Burdette Tomlin Hospital Foundation
- Cancer Institute of N. J. Foundation
- Canine Companions for Independence
- Cheshire Home
- Central N. J. Council Boy Scouts of America
- Eva’s Village
- Family and Children’s Service
- Fanwood Community Foundation
- Foundation for Integral Research
- Frost Valley YMCA
- Institute of Noetic Sciences
- Isles, Inc.
- Kent Place School
- Kessler Foundation
- Metropolitan YMCA of the Oranges
- Mid-Atlantic Center for the Arts & Humanities
- Montclair State University Foundation
- Morristown Beard School
- Newark Museum
- NJN Foundation
- New Jersey Conservation Foundation
- N. J. Foundation of the Blind
- New Jersey Historical Society
- New Jersey Symphony Orchestra
- New Jersey Museum of Agriculture
- Presbyterian Church of Toms River
- Robert Wood Johnson University Hospital at Rahway
- SAGE Eldercare
- Senior Center of the Chathams
- St. Benedict’s Preparatory School
- St. Catherine/St. Margaret Parish
- Stuart Country Day School
- Temple Beth Torah
- The Neph-Cure Foundation
- Trees, Water and People
- Union County College
- Unity Spiritual Center
- Visiting Nurse Association of Central Jersey
- Wayne State University