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How to Give :: Charitable Gift Annuities
Is an Oberlin Charitable Gift Annuity right for you?
If you can answer "yes" to any of the following questions a charitable gift annuity could be right for you.
- Would you like to ensure an Oberlin education for the next generation of Oberlin students?
- receive a lifetime of income payments?
- and still receive a charitable tax deduction?
- Would you feel better if you had more fixed income in your financial portfolio?
- Do you want to make a significant gift to Oberlin, but still need the income generated by the asset?
- Are you enjoying your retirement?
- Are you looking for a way to provide some financial support for your parents?
What is a Charitable Gift Annuity?
An Oberlin Charitable Gift Annuity is a simple contract between you the donor(s) and Oberlin College that guarantees fixed payments to one or two income beneficiaries for their lives with the payments beginning immediately. The annuity payments are guaranteed by the assets of Oberlin College.
What is the minimum age and amount?
Income beneficiaries must be at least 50 years old when payments begin. The minimum amount to create a gift annuity is $10,000. An annuity may be created with either cash or appreciated securities-the securities must have been held at least 1 year.
How are payments determined?
The fixed payment amount is determined by the age(s) of the annuitant(s) at the time the annuity is created. Oberlin follows the charitable gift annuity rates recommended by the American Council on Gift Annuities.
Tax and financial information
A portion of your gift is deductible for federal income tax purposes, provided you itemize your deductions. The deduction is determined by the amount of the gift, the age(s) of the annuitant(s), and the current IRS discount rate.
I'm interested. What do I do now?
To establish a charitable gift annuity, or receive a personalized illustration and more information Contact the Office of Gift Planning at 440-775-8599 or Gift.Planning@oberlin.edu.
Create your own Oberlin Charitable Gift Annuity Illustration by clicking here. Sample Illustrations:
| Immediate Gift Annuity-One Income Recipient |
Immediate Gift Annuity-Two Income Recipients |
Donor Age: 72
Gift: $20,000 Cash
Gift Annuity Rate: 6.7%*
Annual Lifetime Fixed Payment: $1,340
Charitable Tax Deduction: $8,766** |
Donor Ages: 72 / 72
Gift: $20,000 Cash
Gift Annuity Rate: 6%*
Annual Lifetime Fixed Payment: $1,200
Charitable Tax Deduction: $7,371** |
*Oberlin College follows the rate schedule established by the American Council on Gift Annuities (ACGA). Rates displayed are as of 1/15/2006 and are subject to change. Please contact the Office of Gift Planning for current rate information: 440-775-8599.
**The charitable tax deduction will vary based on the timing of the gift and current IRS discount rate.
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