The Flexible Charitable Gift Annuity

Available only through the Mid-Shore Community Foundation

A Charitable Gift Annuity (CGA) can be established by a limited number of charities who are licensed by the State of Maryland Department of Insurance. Selected agencies must have substantial assets, a strong track record, and provide certain types of services.

The Mid-Shore Community Foundation is one of those select charities. And only MSCF offers the flexibility of supporting any charitable agency(ies) that you choose.

What is a "Flexible" Charitable Gift Annuity?
All other charitable gift annuities require you to leave the residual proceeds to the sponsoring charity, rather than to other organizations or causes in which you may have greater interest.

The Community Foundation's annuity gives you a choice: you can leave it with the Foundation's general fund, to benefit all charities in our region in perpetuity; or you can specify the organization(s) or field of interest that you would like to eventually benefit. In many cases, you can also create a permanent, named endowment.

Here's How It Works
You agree to put a certain amount into a charitable fund at the Community Foundation (minimum age 55). In return, the Community Foundation promises to pay you income for the rest of your life, based upon tables created by the American Council on Gift Annuities. The full resources of the Community Foundation stand behind your annuity.

In today's economic environment, a charitable gift annuity offers you an exceptionally high rate of return, guaranteed for the rest of your life.

You will also earn a tax deduction at the time of your gift, and a portion of every payment that you receive will also be tax-free for the rest of your life.

If you are using appreciated property, or closely held stock to fund your CGA, we can offer you a tax deduction based upon the full value of your assets - and help you avoid any capital gains tax on their disposition. This is one of the few ways to receive both full appreciated value and income from such gifts.

Finally, if you are married, you can use your CGA to ensure a permanent income stream to you and your spouse for both of your lifetimes.

All This - and a Gift to the Charity of Your Choice
Your charitable gift annuity will pay you a guaranteed income for the rest of your life, after which the residual proceeds - if any - will be directed to either the general uses of the Mid-Shore Community Foundation, whose unrestricted endowment addresses the most critical current needs of our five-county region, or another charity or field of interest of your choice (or a combination of all three).

Your residual gift can exist as a permanent endowment, to support the causes you care about forever. What's more, if your CGA remainder amount is $50,000 or more, you may designate it as a "named fund," to exist in your name in perpetuity.

How to Get Started
Just contact the professional staff at the Mid-Shore Community Foundation (410-820-8175). We will prepare a comprehensive illustration for your review, showing expected income and tax benefits based upon the amount you wish to use to fund your CGA. A formal agreement is then prepared upon receipt of your deposit, after which regular payments can begin being made.

This can often be done in one or two meetings. Of course, your financial advisors should be included in your decision, and we are pleased to meet with them as well.