Showing Support for Mount Sinai Through Charitable Gift Annuities

Chaim Freiberg
Chaim Freiberg

Chaim Freiberg recently retired to Florida, but he resided in New York for almost 50 years and continues to support Mount Sinai Health System with an ongoing series of charitable gift annuities (CGAs). He appreciates the many benefits that CGAs provide: a simple, tax-wise way to make a meaningful gift, possible avoidance of capital-gain tax if appreciated assets are used to fund the CGA, and a reliable income stream for life.

“I started doing gift annuities years ago, and I find it very satisfying—both in terms of personal satisfaction that I am doing the right thing and for my personal finances,” Chaim says. “I receive payments, some quarterly and some annually, that are very helpful in my retirement. I wish more people were aware of this opportunity.”

In addition to fixed and guaranteed income payments for life, gift annuities provide an income-tax deduction in the year of the gift and payments that are favorably taxed. Chaim creates gift annuities at several charities, primarily health systems, and is a loyal donor to Mount Sinai.

“I always believed that if I had a second chance at life, I would have become a doctor,” says Chaim, who emigrated from Israel as a young adult to attend the prestigious Juilliard School in New York City and then became a concert pianist and piano teacher. “Before I retired, I decided that helping the medical field would be a good way for me to contribute to society. Mount Sinai is an excellent institution, and I am a consistent donor.”

After moving to St. Petersburg, Florida, in 2019, Chaim wrote a best-selling children’s book. He has completed his second book and plans to publish it soon. He also plans to continue creating gift annuities with Mount Sinai and other favored institutions.

“I will keep doing it with institutions I feel are worthwhile,” Chaim says. “I am a great supporter of this way of giving—and if people ask me, I recommend it very highly.”

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