Charitable Gift Annuities

Publication date: 
July, 2009

Modifying Charitable Gift Annuity Payments - In light of significant investment losses during economic downturns, CMF was asked by members:

  • to clarify whether a charitable gift annuity contract may be modified and
  • if so, what affect does that have on the donor's original tax deduction?

We are pleased to provide the following resources available to members to use as they analyze their ability to meet future CGA obligations:

  • A memo provided by Clark Hill, PLC, CMF legal counsel, on the options available to community foundations, along with sample agreements to document any modifications
  • FAQ's on Charitable Gift Annuity Reinsurance by Bryan K. Clontz, president and co-founder of Charitable Solutions, LLC — a charitable gift annuity risk management, gift annuity reinsurance brokerage and non-cash asset consulting firm.