Annuities
Charitable gift annuities are perhaps the most popular way to make a gift while enjoying income and tax benefits. Gift annuities allow donors to increase their income, provide for others or supplement retirement planning, receive an income tax deduction, generate more usable income than a donor might now receive from current investments.
When you create an annuity, in exchange for your gift, you will receive fixed payments for life. The frequency and rate of payments are determined at the time the gift annuity is funded. The payments will continue regardless of how long you or other recipients live.
The attractive part of annuities is that they entitle you to an income tax deduction in the year of your gift, since a portion of your gift will be used for charitable purposes. In addition, for a period of time, a portion of each payment may be free of income tax or taxed at capital gain tax rates, which are lower than tax rates on other income.
The amount used to fund your gift annuity may also be free of gift and estate taxes. You thus enjoy income and tax benefits today for a gift you might otherwise have planned to make in the future through your will or other long-range plans. Use this planned giving calculator to determine how it works.
Many donors want to make a gift to the College, and also wish to keep money stored away for future living expenses. Charitable gift annuities allow donors to continue to receive annual payments from a gift. The payment percentage is determined during the donation period based on current interest rates, age and number of payment recipients. This percentage never changes. Payments can also be transferred to provide for others recipients selected by the donor.
For more information about the deferred giving option that is right for you, contact the UGA Office of Gift and Estate Planning at 1-888-268-5442, or contact Dana Strickland, Director of Development for the College of Pharmacy, at 706-542-5293.
Next: Contact Us-->