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There is a way for you to support the University of Louisville and feel confident that you have dependable income in your retirement years. You can do this with a charitable gift annuity.
With a charitable gift annuity you agree to make a gift to UofL and we, in return, agree 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 our work.
This type of donation can provide you with regular payments for life and allow UofL to further our mission. You can also qualify for a variety of tax benefits, including a federal income tax charitable deduction if you itemize.
Your payments depend on your age at the time of the donation. If you are younger than 60, we recommend that you learn more about your options and download this FREE guide Deferred Gift Annuities: Plan Now, Benefit Later.
Once your gift is made, charitable gift annuities can start providing income payments monthly, quarterly, semi-annually, or annually for life. An example of how they work:
Dennis, 75, and Mary, 73, want to make a contribution to UofL but they also want to ensure that they have dependable income during their retirement years. They fund a $25,000 charitable gift annuity with appreciated stock that they originally purchased for $10,000.
Based on their ages, they will receive a payment rate of 5.1%, which means that they will receive $1,275 each year for the remainder of their lives. They’re also eligible for a federal income tax charitable deduction of $10,217* when they itemize.
*Based on a 3.6% charitable midterm federal rate. Deductions and calculations will vary depending on your personal circumstances.
Deferring annuity payments enables younger donors to receive tax benefits now and increase the income they receive—the longer the deferment the greater the payment. An example of how they work:
Craig, 56, and Sarah, 55, want to make a charitable gift this year that will help their and the University of Louisville’s futures. They establish a $25,000 charitable gift annuity now that will provide income during their retirement years. They choose to defer payments until they are 71 and 70. Based on their current ages, they will receive a payment rate of 8.0%, which means that they will receive $2,000 each year for the remainder of their lives. They're also eligible for a federal income tax charitable deduction of $11,178* when they itemize. Finally, they know that after their lifetimes, the remaining amount will be used to support UofL.
*Based on a 2.0% charitable midterm federal rate. Deductions and calculations will vary depending on your personal circumstances.
Input a few details and see how a charitable gift annuity can benefit you.
Legal name: University of Louisville Foundation, Inc.
Address: 215 Central Avenue, Suite 212, Louisville, KY 40208
Federal tax ID number: 23-7078461
Learn more about the many benefits of a charitable gift annuity in our FREE guide Charitable Gift Annuities: Gifts That Give Back.