Gain Lifetime Income with a Charitable Gift Annuity
A life income gift — also known as a charitable gift annuity — increases your future annual income stream, offers current and future tax savings and could minimize your capital gains exposure. We encourage you to speak with your financial advisors about whether a life income gift is a good fit for your situation and philanthropic goals.
Benefits of setting up a gift annuity with MaineGeneral:
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- Your income stream from the gift annuity is guaranteed.
- You may receive a charitable tax deduction, and the payments you receive may be partly tax-free during the annuity's life expectancy years.*
- You will make a meaningful impact on the future of MaineGeneral and our patients.
- You will enjoy membership in the Kennebec Circle, MaineGeneral's legacy society.
Curious what a life income gift might look like for you?
Let us know — we are happy to create an annuity proposal and quote individualized to your needs.
How does a charitable gift annuity work?
The charitable gift annuity is a contract under which MaineGeneral, in return for an irrevocable transfer of cash or marketable securities, agrees to pay a fixed amount to one or two individuals (the annuitants) for their lifetime. Payment rates are based on national standards and are not controlled by MaineGeneral.
Our obligation to make the annual payments is backed by the full faith and assets of the institution and is not subject to investment performance. We partner with Kennebec Savings Trust to administer and manage our charitable gift annuity program. The remainder of the annuity is disbursed to MaineGeneral only when payouts to annuitants are completed.
*Tax law is subject to change; please consult with your tax advisor for the most recent information.
Have you already included MaineGeneral in your estate plans?
Click here to learn about other ways to leave a legacy. All legacy donors have the opportunity to join MaineGeneral's legacy society, The Kennebec Circle.
Information conveyed throughout this website is offered for general informational and educational purposes only and is not advice. Seek the advice of tax, legal, or financial advisors for applicability to your situation.