The history of the charitable gift annuity is traced back to 1843 when a Boston merchant donated a gift of money to the American Bible Society in exchange for a flow of income.  A gift annuity is straightforward;  a contractual agreement is established between the EGCC Foundation and a donor.  The contributor transfers assets to the EGCC Foundation in exchange for our promise to pay one or two annuitants payments for life.

Charitable Gift Annuities

A Charitable Gift Annuity allows you to make a gift to the EGCC Foundation while providing for your future financial security.   A gift annuity makes it possible to transfer cash, real estate, or securities to EGCC.  In exchange, you or a designated individual will receive fixed payments for life.   You may wish to discuss this with a financial planner in our Advancement Office.

Making it happen…

  • You transfer security cash, or other wealth to EGCC.
  • EGCC pays you (or up to two annuitants) a fixed income for life.
  • The principal amount passes to EGCC when the contract ends.


  • You receive an immediate income tax deduction for a portion of your gift.
  • Your annuity payments are guaranteed for life, backed by EGCC.
  • Your annuity payments are treated as:
    • Part of ordinary income,
    • Part of capital gains income, and
    • Part of tax-free income
  • You have the satisfaction of making a gift benefiting you now and EGCC in the future.

Charitable Deferred Gift Annuity

The deferred charitable gift annuity works in a parallel manner to the standard Charitable Gift Annuity, with the exception that the deferred gift allows you to choose a date in the future when you would like your income payments to begin.  The delay of your payment allows your annuity to mature in the EGCC Foundation, resulting in a higher percentage payout to you and a higher possible tax-deduction benefit.

Making it happen

  • Donor transfers cash, securities, or other wealth to EGCC Foundation
  • On a specified date in the future, EGCC Foundation begins to pay you or two annuitants a fixed payment for life.
  • The principal amount passes to EGCC Foundation when the contract ends.


  • You receive and immediate income tax deduction for a portion of your gift.
  • Annuity payments can be postponed until you need them.
  • With longer deferred payments, your effective rate will be higher and your principal grows tax-free.
  • Your deferred gift benefits you now and EGCC Foundation later.