Annuities

Charitable Gift Annuity

The charitable gift annuity is a unique vehicle for charitable giving. It allows you to make an irrevocable gift to the University and still retain an income from those assets (often an increased income).

The charitable gift annuity is a simple agreement between you and Barry University. In exchange for a gift of cash, securities, or other liquid assets, the University agrees to pay one or two beneficiaries a fixed payment for life. In addition, you are entitled to a current income tax deduction for the charitable portion of the gift.

Guaranteed Annuity Rates -- The annual income that you receive is determined by your age at the time of the gift and remains constant for life. Annuity rates range from 6.1% to 12.0% depending on the age of the donor/donors at the time of the gift.

For exact rates for regular, dual or deferred annuities, please contact Cheryl Lawko, Director of Development for Major and Planned Gifts at 305-899-3070 or e-mail clawko@mail.barry.edu.

Benefiting a Family Member

A charitable gift annuity with Barry University can pay income to you for life or can benefit a loved one (your spouse, for example). Annuity payments for two lives are slightly lower because of the longer term.

Funding the Gift Annuity with Appreciated Securities

When you fund a charitable gift annuity with long-term appreciated securities, there is no tax on the capital gain allocable to the charitable gift portion of the gift. There is a capital gain on the gain allowable to the annuity's value, but this gain will be smaller than it would be on the sale of the asset. In most cases, the gain can be spread over the donor's life expectancy.

Additional Advantages

If your appreciated security is paying a low rate-of-return, you can receive a new higher rate with no money management responsibilities. Also, there can be probate and federal estate tax savings.

Don't need additional income now, but want to provide for retirement? – If you can transfer assets to a Barry University Charitable Gift Annuity now, you can receive guaranteed life income payments starting at a future date that you select now. Because these payments begin later, the annuity rates are higher.

Please contact Cheryl Lawko, Director of Development for Major and Planned Gifts at 305-899-3070 or e-mail clawko@mail.barry.edu for a free analysis of any of the gift annuity options.