Gifts That Provide Income

A charitable gift annuity is a gift made to Kent State that can provide you with a secure source of fixed payments for life, regardless of any stock market fluctuations. Charitable Gift Annuities require a minimum investment of $25,000 and can be in the form of cash or property such as stock or appreciated securities. The gift is partially tax deductible and the payments you receive are dependent on your age. A portion of each payment you receive may be tax-free, especially if you make a cash gift, and you may also avoid capital gains taxes if your annuity is funded with appreciated stock.

Types of Charitable Gift Annuities  

Current Charitable Gift Annuity

If you choose a Current Charitable Gift Annuity, payments begin within one year of your gift. You transfer cash or property in exchange for our promise to pay you fixed payments beginning as early as the same year and you will receive an income tax charitable deduction this year for the value of your gift to Kent State University.

Deferred Charitable Gift Annuity

If you choose a Deferred Charitable Gift Annuity, payments begin at a fixed future date. This type of annuity allows you to delay payments until a future date of your choosing and you will receive a charitable income tax deduction this year. This type of annuity is especially useful to those currently earning a high income who want to receive tax benefits from the gift now while deferring payments until a later time.

Flexible Deferred Charitable Gift Annuity

If you choose a Flexible Deferred Charitable Gift Annuity, you have flexibility in deciding when the annuity will begin making payments to you. As with a deferred gift annuity, you establish the annuity today and receive a charitable deduction this year, but the payments are deferred until you elect to begin receiving them. If you are unsure when you will retire, this may be a good option for you.

For more information about establishing a Charitable Gift Annuity, please contact us at giftplan@kent.edu or 330-672-1000. 

A charitable remainder unitrust or annuity trust are effective ways to make a gift to Kent State while saving money on taxes and planning for retirement. It is an ideal option for those planning on selling an appreciated asset or property. A charitable remainder unitrust or a charitable remainder annuity trust require a minimum investment of $50,000.

Additional Information

Establishing a charitable remainder unitrust or annuity trust provides you with an income for a set number of years. A charitable remainder unitrust can be established to make payments for life, for a term of up to 20 years or for life plus a term of up to 20 years. A charitable remainder annuity trust can be established to make payments to you or any other trust beneficiaries you select based on a life, lives or a term up to 20 years.

To form the trust, you transfer the cash or assets and the trust is invested to pay you or any other beneficiaries. You will receive an immediate charitable income tax deduction for the charitable portion of the trust during the year the trust is formed and Kent State benefits from what remains of the trust once all payments have been made.

Learn More

For more information about establishing a Charitable Remainder Unitrust or a Charitable Remainder Annuity Trust, please contact us at giftplan@kent.edu or 330-672-1000.

A Testamentary Charitable Remainder Unitrust is often called a “give it twice” trust because it allows you to transfer your IRA or another asset upon your death to fund a trust that first pays income to your family for a certain number of years and then distributes the balance to Kent State.

Additional Information

A testamentary charitable remainder unitrust is a useful option that allows you to retain control of your funds during your lifetime, provide income for heirs for a longer period as opposed to an outright gift of your IRA and can potentially qualify for an estate tax deduction.

If you choose to establish a testamentary charitable remainder unitrust, we will work with you and your attorney to create the trust and name it as the beneficiary of your IRA account. Upon your passing, the IRA is transferred to the trust and payments begin to your beneficiaries for the agreed upon period. At the end of that period, the balance of the trust is then transferred to Kent State.

Learn More

Please contact us at giftplan@kent.edu or 330-672-1000 to discuss establishing a testamentary charitable remainder unitrust or with any other questions.