Gift Annuities Benefit Donors, Nonprofits

Annuity rates are set with an eye toward the nonprofit receiving about half the donor's initial contribution.

Those concerned with maximizing their payments in retirement can typically receive higher payments from commercial annuities.

"You have to have a charitable intent to create one of these," said Jonathan Lander, vice president and senior wealth planner with PNC Financial Services Group Inc.'s wealth management business.
Tax Benefits