Charitable Gift Annuity
Gifts That Pay You Income
There is a way for you to support the George Washington University and feel confident that you have dependable income in your retirement years. If you are age 55 or older, you can do this with a charitable gift annuity.
With a charitable gift annuity you agree to make a gift of $10,000 or more to GW and, in return, the university agrees to pay you (and someone else, if you choose) a fixed amount each year for the rest of your life. The balance is used to support students, programs, research, or another area of your choice.
This type of donation can provide you with regular payments for life, guaranteed by the endowment and assets of the university, and allow GW to further its mission. You can also qualify for a variety of tax benefits depending on how you fund your gift.
If you fund your gift annuity with cash or appreciated property, you qualify for a federal income tax deduction if you itemize. In addition, you can minimize capital gains taxes when you fund your gift with appreciated property.
And now, you can fund your gift using your IRA assets. If you are 70½ and older, you can make a one-time election of up to $53,000 to fund a gift annuity. While your gift does not qualify for an income tax deduction, it does escape income tax liability on the transfer and count toward all or part of your required minimum distributions.
Gifts That Pay Now or Later
Your payments depend on your age at the time of the donation. If you are interested in delaying your payments, we recommend that you learn more about your options by downloading this FREE guide Deferred Gift Annuities: Plan Now, Benefit Later.
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Payments for Life
Learn more about the many benefits of a charitable gift annuity in our FREE guide Charitable Gift Annuities: Gifts That Give Back.
Why I Created a Gift Annuity with GW: Mildred Reynolds
Mildred Reynolds, Ed.D. '78, came to the GW School of Medicine in 1970 when she became Director of Psychiatric Social Work and Adjunct Assistant Professor of Psychiatry and Behavioral Sciences. While working at the university, she also took graduate courses at GW's Graduate School of Education and Human Development (GSEHD), earning a doctorate in higher education in 1978. She made her first gift to her new alma mater that spring.
After leaving the university in 1980 to attend seminary, Dr. Reynolds continued to make gifts to the annual funds for GSEHD and GW's School of Medicine and Health Sciences. In 2002, Dr. Reynolds established her first charitable gift annuity at GW to benefit the George Washington Institute for Spirituality and Health (GWish), of which she is a former board member. Dr. Reynolds created another charitable gift annuity in 2010 and is planning to establish her third annuity this year.
"Establishing a charitable gift annuity at GW was a great option for me," she says. "The income it provides is very attractive, especially with interest rates down. It is income that I can count on, and I'm able to support GW and its programs at the same time!"
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