Charitable Gift Annuity
If you are tired of living at the mercy of the fluctuating stock and real estate markets, consider supporting Lamar University with a charitable gift annuity (CGA). This charitable gift provides you with a secure source of fixed payments for life with the remainder benefitting Lamar University.
How a charitable gift annuity works
A CGA is a contract between you and a charitable organization and is a great way to make a gift to support Lamar University.
- You transfer cash or other accepted asset to a charitable organization issuing CGAs
- In exchange, you receive fixed payments for the lives of one or two annuitants
- Typically, the fixed payment is determined according to a suggested maximum payout rate based on the age of the annuitant
- If you fund your CGA with cash, a significant portion of the annuity payment will be tax-free
- If you fund your CGA with appreciated securities or other accepted asset, you can avoid a portion of the capital gains tax
- You will receive a charitable income tax deduction for the charitable gift portion of the annuity
Please contact us to request a CGA illustration for your particular situation or to inquire about other assets that you might be able to use to fund a CGA. You can also view sample illustrations with our calculator.
Current charitable gift annuity (payments begin within one year). With a current gift annuity, you may transfer cash or property in exchange for fixed payments from the gift annuity charity. You will receive an income tax charitable deduction this year for the value of your gift.
Deferred charitable gift annuity (for payments at future date). Perhaps you are not ready to begin receiving payments until a future date, such as when you retire. With a deferred gift annuity, you establish the gift annuity today, receive a charitable income tax deduction this year, but defer the payments until a designated date sometime in the future. Best of all, because you deferred the payments, your annual payment will be higher when the payments start than they would have been with a current gift annuity.
Flexible deferred charitable gift annuity (gives you flexibility as to when the payments will start). With a flexible deferred gift annuity, you retain the flexibility to decide when the annuity will begin making payments. As with a deferred gift annuity, you establish the annuity today and receive a charitable deduction this year, but the payments are deferred until such time as you elect to begin receiving the payments.