With a deferred charitable gift annuity, you irrevocably contribute cash or stock to Mass General, and then you and/or another person you choose receives fixed payments for life. You also receive a charitable income tax deduction in the year that you make your gift. When you establish your gift annuity, you select when payments begin. The longer you defer, the higher your annuity rate.
Deferred Charitable Gift Annuity: At the time you make your gift, you choose a specific future date when you would like payments to begin. Because payments are deferred, you enjoy a higher annuity rate.
Flexible Deferred Charitable Gift Annuity: At the time of the gift, you select a range of possible dates in which payments may begin. Each year, you control when you receive income by letting MGH know if you would like to begin payments that year or continue to defer them. If you are uncertain when you will retire, a flexible deferred gift annuity may be right for you, because you can postpone the decision of receiving income until the last moment.
At the passing of the last named beneficiary, Mass General receives the residuum of the annuity to support an area of the hospital that is important to you. A number of factors, including the number of beneficiaries, their ages and the deferral period are used to determine charitable gift annuity rates.