Charitable Gift Annuity
Gifts That Pay You Income
There's a way for you to support Gonzaga University and feel confident that you have dependable income in your retirement years. You can do this with a charitable gift annuity.
This type of donation can provide you with regular payments and allow us to further our work. You can also qualify for a variety of tax benefits depending on how you fund your gift.
If you fund your gift annuity with cash or appreciated property, you qualify for a federal income tax deduction if you itemize. In addition, you can minimize capital gains taxes when you fund your gift with appreciated property.
And now, you can fund your gift using your IRA assets. If you are 70½ and older, you can make a one-time election of up to $53,000 to fund a gift annuity. While your gift does not qualify for an income tax deduction, it does escape income tax liability on the transfer and count toward all or part of your required minimum distributions.
Gifts That Pay
Your payments depend on your age at the time of the donation. If you are younger than 65, we recommend that you learn more about your options and download this FREE guide Plan for Retirement With a Deferred Gift Annuity.
An Example of How It Works
Say that Robert, 75, and Helen, 73, want to make a contribution to Gonzaga University that will support our work for generations to come, but they also want to ensure that they have dependable income for the rest of their lives. They fund a $25,000* charitable gift annuity with Gonzaga University using appreciated stock that they originally purchased for $10,000. Based on their ages, they will receive a payment rate of 6.0%, which means that they will receive $1,500 each year for the remainder of their lives. They are also eligible for a federal income tax charitable deduction of $8,792** when they itemize. Finally, they know that after their lifetimes, the remaining amount will be used to support our mission.
*The minimum amount needed to start a CGA at Gonzaga is $25,000.
**Based on a 5.2% percent charitable midterm federal rate. Deductions and calculations will vary depending on your personal circumstances.
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Learn more about the many benefits of a charitable gift annuity in our FREE guide Strengthen Your Future With a Charitable Gift Annuity.
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