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How to Give » Deferred Charitable Gift Annuity
Is an Oberlin Deferred Charitable Gift Annuity right for you?
If you can answer "yes" to any of the following questions a deferred 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?
- Are you looking to add some fixed income to your financial portfolio in the future?
- Do you want to make a significant gift to Oberlin, but still need the income generated by the asset?
- Are you planning for your retirement?
- Do you want to provide support for someone (mother, father, family friend, etc.) later in life?
What is a Deferred Charitable Gift Annuity?
An Oberlin Deferred Charitable Gift Annuity is a simple contract between you the donor(s) and Oberlin College that guarantees fixed payments for the lives of one or two income beneficiaries, with the payments to begin at a certain date in the future. 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 deferred gift annuity is $10,000. Deferred annuities 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, and the length of the payment deferral. Note: The longer payments are deferred (must be deferred at least one year) the higher the payment amount.
Tax and financial information
A portion of your gift may be 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 deferred 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 Deferred Charitable Gift Annuity Illustration by clicking here.
Sample Illustrations:
| Immediate Gift Annuity |
Deferred Gift Annuity-One Year Deferra |
Deferred Gift Annuity-Five Year Deferral |
Donor Age: 65
Gift: $20,000 Cash
Gift Annuity Rate: 6%*
Annual Lifetime Fixed Payment: $1,200
Charitable Tax Deduction: $7,513** |
Age at time of gift: 65
Age when payments begin: 66
Gift: $20,000 Cash
Gift Annuity Rate: 6.3%*
Annual Lifetime Fixed Payment: $1,260
Charitable Tax Deduction: $8,097** |
Age at time of gift: 65
Age when payments begin: 70
Gift: $20,000 Cash
Gift Annuity Rate: 8.2%*
Annual Lifetime Fixed Payment: $1,640
Charitable Tax Deduction: $9,763** |
*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. |
