Charitable Gift Annuity
A charitable gift annuity is a gift made to Kent State that can provide you with a secure source of fixed payments for life, regardless of any stock market fluctuations. Charitable Gift Annuities require a minimum investment of $25,000 and can be in the form of cash or property such as stock or appreciated securities. The gift is partially tax deductible and the payments you receive are dependent on your age. A portion of each payment you receive may be tax-free, especially if you make a cash gift, and you may also avoid capital gains taxes if your annuity is funded with appreciated stock.
Types of Charitable Gift Annuities
Current Charitable Gift Annuity
If you choose a Current Charitable Gift Annuity, payments begin within one year of your gift. You transfer cash or property in exchange for our promise to pay you fixed payments beginning as early as the same year and you will receive an income tax charitable deduction this year for the value of your gift to Kent State University.
Deferred Charitable Gift Annuity
If you choose a Deferred Charitable Gift Annuity, payments begin at a fixed future date. This type of annuity allows you to delay payments until a future date of your choosing and you will receive a charitable income tax deduction this year. This type of annuity is especially useful to those currently earning a high income who want to receive tax benefits from the gift now while deferring payments until a later time.
Flexible Deferred Charitable Gift Annuity
If you choose a Flexible Deferred Charitable Gift Annuity, you have flexibility in deciding when the annuity will begin making payments to you. As with a deferred gift annuity, you establish the annuity today and receive a charitable deduction this year, but the payments are deferred until you elect to begin receiving them. If you are unsure when you will retire, this may be a good option for you.
For more information about establishing a Charitable Gift Annuity, please contact us at giftplan@kent.edu or 330-672-1000.