Gift Annuity

Gift Annuity

There are two types of gift annuities: charitable gift annuities and deferred gift annuities.

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Charitable Gift Annuity – Immediate Income

Summary
A charitable gift annuity provides you with immediate income for life and the principal passes to UVa-Wise when the contract ends.  A charitable gift annuity may be established with a small investment ($5,000 minimum) and can be funded with cash, appreciated securities or in some cases a gift of real estate.  The minimum age to fund a gift annuity is 55 years of age.

Benefits

  1. One hundred percent guaranteed income, backed by the full assets of the University of Virginia.
  2. If funded with appreciated securities, you may avoid a portion of your capital gains tax.
  3. Make a significant gift that benefits you now and UVa-Wise later.
  4. Donor receives an immediate income tax deduction.
  5. A portion of the annuity income may be tax-free.
  6. Ideal to supplement other retirement income.

GiftCharityAnnuitiesPGGAExamples
Deferred Gift Annuity
A deferred gift annuity provides you with income beginning on a specified date in the future (one year or more) and continues for life and the principal passes to UVa-Wise when the contract ends.  A deferred gift annuity may be established with a small investment ($5,000 minimum) and can be funded with cash, appreciated securities and in some cases a gift of real estate.

There is no minimum age requirement for establishing a deferred gift annuity although you must be at least 55 years of age to receive income payments.

Benefits

  1. One hundred percent guaranteed income, backed by the full assets of the University of Virginia.
  2. Deferring payments provides a higher annuity rate and generates a larger charitable deduction.
  3. Immediate tax deduction and future tax deductions due to deferral of income.
  4. Make a significant gift that benefits you when needed (in retirement or when a grandchild needs assistance with tuition) and the college later.
  5. Ideal to supplement other retirement income.

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UVa-Wise does not provide legal, tax or financial advice. We strongly recommend that you consult professional advisors on all legal, tax or financial matters, including gift planning considerations. To ensure compliance with certain IRS requirements, we disclose to you that this communication (including any attachments) is not intended or written to be used, and cannot be used, for the purpose of avoiding tax-related penalties.

For more information, contact the
Office of Development & College Relations
Bowers-Sturgill Hall
One College Avenue
Wise, VA 24293
276.328.0129
276.376.1024 (fax)