Charitable Annuity
The simplest way to make a deferred gift to Pacific Lutheran University, while at the same time receiving an income for life (for one or two persons), is through an arrangement called a charitable gift annuity. The income received is based on the age of the income beneficiary(ies). Benefits include:
- Guaranteed lifetime income, part of which is tax free,
- A charitable income tax deduction,
- Freedom from investment and management worries, and
- An eventual gift to Pacific Lutheran University.
The minimum amount needed to fund a charitable gift annuity is $10,000.
The minimum age for a charitable gift annuity arrangement is 60.
| $10,000 Charitable Gift Annuity Example (single life) | |||
| Age | Payment Rate | Charitable Deduction* | Annual Payment |
| 60 | 5.7% | $2,420 | $570 |
| 65 | 6.0% | $2,991 | $600 |
| 70 | 6.5% | $3,498 | $650 |
| 80 | 8.0% | $4,641 | $800 |
| 86 | 9.9% | $5,127 | $990 |
| 90 | 11.3% | $5,586 | $1,130 |
| *Based on IRS Regulations. These figures may vary slightly. | |||