Your nonprofit organization currently has a handful of CGA contracts it manages, but your program has been stagnant for a number of years. Likely, your Board of Directors would like to find a solution to remove the liabilities of those contracts from your organization. Upon sufficient due diligence, CGA America might be the solution to transfer the assets and liabilities of your existing CGA pool while still retaining the ability to retain the full residual value of the gifts.
By considering CGA America as an option, donors can create a vehicle similar in nature to a Charitable Remainder Annuity Trust. Unlike the traditional CGA contract, the contract with CGA America allows a donor to appoint their own favorite charity to eventually receive 100% of the gift’s residuum.
Such a solution can be ideal for charitable organizations not wishing to offer CGA contracts directly to their donors, and also for donors wishing to support their favorite charities through such a vehicle in the event such an option directly with that charity is not available. Since charitable gift annuities are governed under a variety of rules and regulations, many charities choose to use CGA America's program as an adjunct to their own program in order to reduce their financial liability and maintain regulatory compliance over their activities.
This option is promoted by hundreds charities across the country to meet a variety of their donors’ needs, such as licensing requirements in multiple states, reducing perceived risk, internal administrative capabilities , and potentially reduce overall fees associated with managing a CGA program.
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Example #1: Solutions for Small Nonprofits
example #3: Reduce Your Liability
Example #4: Multi-State Donor Base
You are a donor to numerous charities, and you're thinking of creating a charitable gift annuity with 3 different organizations. As an alternative, rather than a 3 contracts with 3 charities, consider a single contract with CGA America and name those same 3 charities to eventually receive the gift's residuum.
You're the Development Director of a nonprofit organization, and you're approached by a donor wishing to establish a charitable gift annuity contract. Unfortunately, your organization doesn't currently offer such an option. As an alternative, your organization works directly with CGA America to offer a similar gift to your donor, and 100% of the residual value of the gift will eventually be distributed for the benefit of your charity.
Your One-Click Solution for Charitable gift annuities
Example #2: Benefiting multiple charities
You're a gift planning officer serving an organization, such as a college or university, with a donor base that lives all around the country. You realize how difficult it is to obtain and retain the appropriate licensing and registrations in a variety of states. A potential solution is to leverage CGA America in the states which are too "troublesome" to remain in compliance on your own, and continue to use your existing CGA program for the "easier" states.