A Charitable Gift Annuity allows you to make a charitable gift to support the mission of UMD and CAHSS, and in return, you will receive fixed payments for the rest of your life. This philanthropic tool offers you the opportunity to create a legacy that reflects your dedication to UMD. Charitable Gift Annuity rates went up on January 1, 2024, making now a particularly attractive time to explore this giving option.
How It Works
- You make a gift of cash or publicly traded securities.
- The U of M Foundation pays you, or others you select, a fixed amount annually for life.
- The remaining assets support the campus, college, or program of your choice.
The minimum amount to fund a gift annuity at the U of M is $10,000, and the annuitants must be age 55 or older when payments begin. Payout rates typically increase with age.
Deferred Income Option
If you want an immediate tax deduction, but do not need income now, you may prefer a deferred payment gift annuity. With this option, you make the gift now but select a date in the future for payments to begin. Because payments are deferred, the rate will be higher than for an immediate payment gift annuity. Many donors choose this option as a way to supplement future retirement income.
For more information about Charitable Gift Annuities, or to request a personalized illustration, contact the U of M Foundation at [email protected] or 612-625-8676, or Bryce Nixon, Director of Development, College of Arts, Humanities, and Social Sciences at [email protected] or 218-726-6708.
Bryce NixonCAHSS Director of Development