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Secure Your Retirement, and Support a Cause: How CGAs Helped the Nachenbergs Give Back

Leon and Andrea Nachenberg

Leon and Andrea Nachenberg’s relationship with The Michael J. Fox Foundation (MJFF) grew out of a desire to make an impact. After several of their friends and family were diagnosed with Parkinson's and Alzheimer's, the Nachenbergs of Los Angeles made a commitment to fund research for improved treatment options, and ultimately cures. The Nachenbergs wanted to ensure that their gifts would be stewarded by a reputable organization. That’s what led them to MJFF.  

Empowered by the knowledge that 88 cents of every dollar donated to MJFF goes directly to research, the Nachenbergs were excited to give to groundbreaking research. “We’re very careful about our charitable donations,” Andrea says. “I always look up the percentage of our gift that is supporting overhead versus research. I look for organizations with more than 75 percent going to research — and that’s certainly The Michael J. Fox Foundation.”  

With this in mind, the Nachenbergs decided to make a gift that would be mutually beneficial for them and MJFF — a charitable gift annuity (CGA). With this type of gift, you contribute cash, marketable securities or other appreciated property and receive lifetime income in return.  

“Now that we’re retired, we want to live our lives without depleting our nest egg, but we also want to support causes that are important to us,” Leon says. By setting up a gift that pays lifetime income, the Nachenbergs accomplished both goals.  

In addition to providing lifetime income, a gift annuity is a tax-savvy way to dedicate unconventional assets to MJFF. The couple’s gift came from a partnership sale that was expiring; the couple was able to support a cause that is meaningful to them and avoid the capital gains tax from the sale. 

“We feel happy about giving to the Foundation,” Andrea says. “It brings us pleasure to know we’re helping the Foundation get closer to finding a cure.” 

A Mutually Beneficial Gift 

The Nachenbergs discovered the benefits of charitable gift annuities, and you can too. There are ways to minimize capital gains taxes, secure lifetime income (payout rates are the highest they’ve been in years!) and enjoy tax benefits while supporting MJFF’s transformative research programs.

To learn more, view this guide, or contact The Michael J. Fox Foundation at 212-509-1524 or  

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