Non-Profit
Annuity Payment to Donor (Split-Interest)
Making the periodic annuity payment to a donor who established a Charitable Gift Annuity.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Annuity Payment Liability | Liability (-) | 1,500.00 | - |
| Cash in Bank | Asset (-) | - | 1,500.00 |
💡 Accountant's Note
Each annuity payment reduces the liability recognized when the gift annuity was set up. The liability decreases with each payment until the donor's death, at which point the remaining balance becomes unrestricted.
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