Charitable Gift Annuities
When you establish a gift annuity with cash or securities, you make a gift in exchange for UMass' agreement to pay one or two annuitants a fixed income for life. Youfo receive a partial income tax reduction in the year of the gift, which may be carried forward for up to five years. Payments to the annuitants - which begin immediately - are made quarterly for life, and are backed by all assets fo the UMass Foundation. A portion of the payments may be tax-free.
When the last annuitant passes away, UMass Dartmouth uses the remaining funds for the purpose that you specify at the time of the gift.
Sample One-life Rates for a $50,000 Charitable Gift Annuity
| Age | 70 | 75 | 80 | 85 | 90+ |
|---|---|---|---|---|---|
| Rate | 5.7% | 6.3% | 7.1% | 8.1% | 9.5% |
| Income | $2,850 | $3,150 | $3,550 | $4,050 | $4,750 |
Deferred Gift Annuities
This can be an attractive option for donors as young as age 50 who may wish to supplement future income. Payments begin at a future date and you receive:
- A fixed income for live
- A partial income tax deduction in the year the gift is made, and
- An opportunity to defer capital gains tax.
Charitable Remainder Trusts
Yet anther gift offering a lifelong income stream and significant tax benefits, charitable remainder trusts can be arranged for gifts of $100,000 or more.
Benefits Include:
- Support for UMass Dartmouth
- Income to the donor or a beneficiary for a term of years or for life
- Favorable capital gains treatment on appreciated assets
- Charitable income tax deduction (for a portion of the value) in the year of the gift
If you have questions about charitable gift annuities, deferred gift annuities or charitable remainder trusts please contact us.
For a personalized proposal, please contact Carolyn Flynn, Director of Gift Planning at (877) 775-1991 or ogp@umassd.edu.
