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Charitable Gift Annuity Rates Scheduled to Change

A charitable gift annuity is simple: You make a donation using cash, marketable securities or other assets, and we, in turn, pay you a fixed amount for life. With this type of gift, you can feel secure knowing you will receive stable payments for as long as you live.

And now, if you make your gift by June 30, the gift annuity rates will be an estimated 0.4% to 0.5% higher than they will be beginning July 1.

Here’s an Example  

Under the current rate schedule, Mary, 79, gives $25,000 to us in exchange for a charitable gift annuity. She will receive annual payments of $1,650, a rate of 6.6%. If Mary waits to make her gift after the new rate schedule is in place on July 1, the same gift amount will provide $1,550 in annual payments, reflecting a 6.2% rate.

Your Benefits

Gift annuities don’t just increase your retirement income as you help shape our future. They also offer you numerous tax benefits, including:

  • A partial income tax charitable deduction now for your gift, if you itemize
  • Income-tax-free portions of each payment throughout your estimated life expectancy
  • Capital gains tax savings on appreciated property you donate

Rate Charts

Age

Current Rate

Gifts Made on or After July 1, 2020

60

4.3%

3.9%

65

4.7%

4.2%

70

5.1%

4.7%

75

5.8%

5.4%

80

6.9%

6.5%

85

8.0%

7.6%

90+

9.0%

8.6%

Request Your Personal Illustration

We would be happy to send you a free, no-obligation illustration showing you the benefits you can receive from a charitable gift annuity if you make your gift before July 1. Your personalized illustration will include your potential income tax charitable deduction and our annual payments to you for life. Contact EVMS Development at plannedgiving@evms.edu or 757.965.8500 to take the next step.