A gift annuity is a financial arrangement where you make a gift to a charity or nonprofit organization, and in return, they make fixed annual payments to you for the rest of your life. It's like giving a gift and getting a regular income in return.
The downside: Charitable gift annuities typically pay less income. (humbledollar.com)
What would you have done with the money if your parents or grandparents set up a lifetime gift annuity for you when you were younger? (briansoinsurance.com)
A charitable gift annuity typically works well for those 60 and older. (hssv.mylegacygift.org)