Charitable Gift Annuity
The recently passed Legacy IRA Act provides a limited opportunity for donors over age 70 ½ to make a one-time Qualified Charitable Distribution (QCD) up to $50,000 in exchange for a charitable gift annuity. Click here to learn more or contact our office at 704-687-0301.
You may be tired of living at the mercy of the fluctuating stock and real estate markets. A charitable gift annuity is a gift made to our organization that can provide you with a secure source of fixed payments for life.
For a personalized illustration, contact the Office of Gift Planning today.
Benefits of a charitable gift annuity
- Receive fixed payments for up to two beneficiaries (you; your spouse and you; your parents) for life
- Receive a charitable income tax deduction for the charitable gift portion of the annuity
- Benefit from payments that may be partially tax-free
- Further the charitable work of UNC Charlotte with your gift
How a charitable gift annuity works
| Rates | Beneficiary Age | Payment Rate (Before January 1) | Payment Rate (After January 1) |
|---|---|---|---|
| Rates recommended by the American Council on Gift Annuities | |||
| 55 | 4.1% | 4.5% | |
| 65 | 4.8% | 5.4% | |
| 75 | 6.0% | 6.6% | |
| 85 | 8.1% | 8.7% |
A couple, ages 65 and 68, have a $25,000 CD. When it matures, they cash it out and use the proceeds to establish a charitable gift annuity with UNC Charlotte. They receive the following:
- A charitable income tax deduction of $9,551.
- A payment rate of 4.9%
- Annual payments totaling $1,225 of which $652 is tax free as return of principal through the year 2045
A charitable gift annuity is a way to make a gift to support UNC Charlotte.
- You transfer cash or property to UNC Charlotte.
- In exchange, we promise to pay fixed payments to you for life. The payment can be quite high depending on your age, and a portion of each payment may even be tax-free.
- You will receive a charitable income tax deduction for the gift portion of the annuity.
- You also receive satisfaction, knowing that you will be helping further our mission.
If you decide to fund your gift annuity with cash, a significant portion of the annuity payment will be tax-free. You may also make a gift of appreciated securities to fund a gift annuity and avoid a portion of the capital gains tax. Please contact us to inquire about other assets that you might be able to use to fund a charitable gift annuity.
If you choose to establish a charitable gift annuity with UNC Charlotte, we will be honored to welcome you into the Bonnie E. Cone Society.
Contact us
If you have any questions about charitable gift annuities, please contact us. We would be happy to answer your questions or provide a personalized illustration of your benefits.