Thousands of philanthropic individuals and the charitable organizations they support have benefited from celebrated painter John Trumbull (1756-1843). Destitute in his old age, Trumbull agreed to transfer over 100 of his paintings to Yale University in exchange for an annual annuity of $1,000.1 See “One of John Trumbull’s Paintings,” p. 17.
Today, almost 200 years later, charitable gift annuities (CGAs) remain popular gifts to charitable organizations across the United States, as they continue to serve both donors’ and charities’ needs.
Split-interest gifts, such as charitable remainder trusts (CRTs) and CGAs, take advantage of the fact that gifts made to charity during lifetime are better from a tax standpoint than gifts made at death for…
