Establishing a Consumer Reports Charitable Gift Annuity (CGA) is an ideal way to accomplish your personal financial goals and support the mission of Consumer Reports. With your gift you will receive annuity income for life as well as an income tax charitable deduction and make a significant contribution to the work of CR.
What are the benefits of a CGA?
- Lifetime income at fixed generous rates
- Eligibility for a charitable income tax deduction for a portion of your contribution
- Reduction and deferral of capital gains taxes if appreciated securities are contributed
- Part of your annuity payments may be tax-free for a number of years
- Supporting the testing and research of CR
- A lifetime subscription to one of our publications
How does a CGA work?
You make a one-time contribution of at least $10,000 in cash or appreciated securities (stocks, bonds, mutual fund shares). In return for this donation, CR pays one or two annuitants an annuity each year for life. Payments can be taken immediately or deferred to a later date.
You are eligible for an immediate income tax charitable deduction for the part of your gift that is considered a contribution. The annuity payments may be partially tax-free during the life expectancy of the annuitant(s). At the end of your lifetime(s), CR benefits by retaining the amount that remains from your annuity.
What is my annuity rate?
The annual lifetime annuity rate is fixed and determined by your date of birth. If you are at least 60 years of age payments can begin immediately. If younger, you may qualify for a deferred annuity, with the first payment made after your 60th birthday. The annuity rate increases because of this deferral period.
What are some examples of a Consumer Reports Gift Annuity?
Click here for examples of current and deferred Consumer Reports Gift Annuities.
To learn more about our CR Charitable Gift Annuity:
Contact Ed Pitaro, Associate Director, Gift Planning at (914) 378-2647, firstname.lastname@example.org or by mail at:
Associate Director, Gift Planning
101 Truman Avenue
Yonkers, NY 10703
This is not legal advice. Any prospective donor should seek the advice of a qualified estate and/or tax professional to determine the consequences of his or her gift.