Charitable Gift-Annuity Rates Decrease
February 4, 2009
The rates paid out to charitable gift-annuity beneficiaries will decrease this month by 0.4 percent, to 0.7 percent, a result of deep declines in both long- and short-term interest rates, reports The Wall Street Journal.
When creating a charitable gift annuity, a donor makes a gift of cash, securities, or other assets to a nonprofit group. In return, the group pays the donor a fixed amount during his or her lifetime. The remainder goes to the charity.
