Charitable Gift Annuity
Gifts That Pay You Income
There's a way for you to support the University of Michigan 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 U-M 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.
Request a personalized illustration
This type of donation can provide you with regular payments for life and allow U-M to further our mission. You can also qualify for a variety of tax benefits depending on how you fund your gift.
If you fund your gift annuity with cash or appreciated property, you qualify for a federal income tax deduction if you itemize. In addition, you can minimize capital gains taxes when you fund your gift with appreciated property.
And now, you can fund your gift using your IRA assets. If you are 70½ and older, you can make a one-time election of up to $53,000 to fund a gift annuity. While your gift does not qualify for an income tax deduction, it does escape income tax liability on the transfer and count toward all or part of your required minimum distributions.
Gifts That Pay
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 Plan for Retirement With a Deferred Gift Annuity.
Fund Your Donation With:
Payments for Life
Learn more about the many benefits of a charitable gift annuity in our FREE guide Gifts That Give Back.
View My GuideNot Sure How to Begin Planning?
Download My FREE Personal Estate Planning KitMeet John Herring
Growing up wasn’t easy for John Herring. "I was born into the Great Depression,” he recalls. Despite the difficult circumstances of his childhood, John excelled in school and eventually enlisted in the United States Air Force before settling in Michigan and earning his master’s degree in business. His career track eventually brought him to the University of Michigan, where he supervised special projects and mentored graduate students and fell in love with Ann Arbor and the University of Michigan.
But John wasn’t the only Herring to fall in love with U-M. His son, David, earned two degrees from the university. To honor his son’s achievements and work, John set up a charitable gift annuity. “I feel it’s a fitting tribute,” John says, reflecting on he and David’s desire to help those in need.