Flexible Charitable Gift Annuity

What is a "flexible" charitable gift annuity?

Most charitable gift annuities require the donor to leave the residual proceeds to the sponsoring charity rather than to other organizations or causes that may interest the donor.

The Mid-Shore Community Foundation's annuity gives the donor a choice:

1. Leave it with MSCF’s unrestricted fund to benefit all charities in our region in perpetuity, or
2. Specify the organization(s) or field of interest to benefit from the residual proceeds. In many cases, the donor can also create a permanent, named endowment with the charitable gift.

Here's how it works

The donor agrees to put a minimum of $10,000 into a charitable fund at the Mid-Shore Community Foundation (minimum age 55). In return, the MSCF promises to pay the donor income for the rest of his or her life, based on tables created by the American Council on Gift Annuities. The full resources of the Mid-Shore Community Foundation stand behind the annuity. When the donor or donors decease, the remaining assets in the annuity go to the named charity(ies).

How can a nonprofit take advantage of the Flexible Charitable Gift Annuity?

If you have a fund with MSCF, we can customize a brochure for you to incorporate in your planned giving program. You can name your charity as the primary recipient of the residual assets in the annuity; 90% of the residual assets would be deposited in a permanent fund at MSCF to benefit your charity and 10% would go to the MSCF’s unrestricted fund for the Mid-Shore community.