Charitable Gift Annuities allow a donor to make a substantial gift to a non-profit while retaining the right to a life income. In the case of Charitable Gift Annuities, that income is a fixed amount based on tables published by the American Council on Gift Annuities. These tables are designed with the donor’s life expectancy in mind.
A donor may also elect to defer the receipt of the income for one or more years, which will increase the ultimate payout. This is known as a Deferred Gift Annuity and is often used as a supplemental retirement plan for individuals who have already contributed the maximum amount to their qualified plan.
The Erie Playhouse has a partnership program with the Erie Community Foundation that allows the Playhouse to offer Charitable Gift Annuities.