Charities may establish a minimum age requirement for donors or annuitants, usually around 65 years. This helps to balance the organization's financial risk, as annuity payments are dependent on the life expectancy of the annuitant.
An individual can decide how much to gift to a CGA within the guidelines set by the charitable organization. Most charities have a minimum gift amount required to establish a CGA, which ensures that the administrative costs of managing the CGA are justified. The donor can choose to gift any amount above the minimum requirement.