In a Charitable Gift Annuity contract, the donor transfers assets (cash or securities) to the SAG Foundation in exchange for the SAG Foundation’s agreement to pay the donor and a survivor or beneficiary (if any) a fixed amount annually for life. Annual payment rates and amounts are based upon the donor’s and beneficiary’s ages and the size of the gift. A Charitable Gift Annuity is a combination of an investment and a gift.
Payments to the donor can begin immediately after the contract is signed or can be deferred to a predetermined future date, i.e.; when the donor reaches a certain age. If the beneficiary survives the donor, the SAG Foundation will continue to make payments for the life of the beneficiary. Upon the donor’s death, the remainder is paid to the SAG Foundation.