These gift annuities consist of a simple contract between one or two donors and the McLaren Greater Lansing Foundation. In exchange for an irrevocable gift of cash or securities, the McLaren Greater Lansing Foundation will pay one or two annuitants a guaranteed income for life. The older the income beneficiary, the higher the annuity rate generating the annual income. Gifts of cash result in a portion of the guaranteed annual income being received tax free for the actuarial life of the annuity contract.