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Charitable Gift Annuities

A charitable gift annuity enables you to gift a lump sum to Ongiara and, in exchange, receive guaranteed fixed payments to you for a specified number of years or for life. Couples may choose a ‘joint and last survivor’ policy, which would provide payments for the lifetime of both individuals. This type of gift has the greatest tax advantages for donors aged 65 year or older.

Ongiara would issue a charitable receipt for the amount by which your gift exceeds the total anticipated annuity payments, as based on life expectancy tables (providing an immediate tax credit/tax deduction). Much or possibly all of the income you would receive from the annuity would be tax-free, as the CCRA or the IRS would consider all or part of your annuity income as a return of capital.  

The minimum age for establishing an Ongiara Charitable Gift Annuity is 55 and the minimum amount is $50,000.00