Why donors like CGAs
Why organizations like CGAs
>>Can you tell your supporters that a CGA can deliver “guaranteed” income or not?
>>eCourse: Online Charitable Gift Planning by Dr. Russell James
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I’ve always found CGA’s as a great “gateway gift” for donors who aren’t comfortable with larger commitments — especially those where there is concern about outliving one’s assets. I have experienced repeat gifts (second and third CGA’s) from the same sources, which often follows a donor reaching a comfort level (read: trust) in a CGA and how it works.
I agree Gary. “Gateway Gifts”…. great way to describe ’em!
As a financial advisor, who sells commercial annuities, I can give you 5 advantages of CGAs over their commercial cousins:
1. they are no-load
2. they can take in appreciated assets
3. they generate a charitable deduction
4. the residuum stays with the charitable organization not the insurance company
5. they are simple, one page contracts, not multipage applications with a lot of regulatory gobblety-gook
Thanks Geoffrey. These are great additions to the list!