Charitable Gift Annuity
Gifts That Pay You Income
You can enrich the URI experience and your retirement with a charitable gift annuity. This popular gift provides you with dependable income in your retirement years and provides future Rams with a distinctive education and bright future.
Charitable gift annuities involve a simple contract between you and University of Rhode Island Foundation & Alumni Engagement. In return for your gift of cash or securities, URIFAE pays you (and another individual if you choose) a fixed amount of income for life. You’ll 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.
Watch How It WorksPayments for Life
Learn more about the many benefits of a charitable gift annuity in our guide Strengthen Your Future With a Charitable Gift Annuity.
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An Example of How It Works
Dennis, 66, and Mary, 65, want to make a contribution to URI but they also want to ensure that they have dependable income during their retirement years. They establish a $20,000 charitable gift annuity.
Based on their ages, they will receive a payment rate of 5.1%, which means that they will receive $1,020 each year for the remainder of their lives. They're also eligible for a federal income tax charitable deduction of $6,402* when they itemize. Finally, they know that after their lifetimes, the remaining amount will be used to support our mission.
*Based on a 5.2% charitable midterm federal rate. Deductions and calculations will vary depending on your personal circumstances.
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Additional Resources
Fund Your Contribution With:
Gifts That Pay
Your payments depend on your age at the time of the contribution. If you are younger than 60, we recommend that you learn more about your options and download this guide Plan for Retirement With a Deferred Gift Annuity.
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Create a secure plan for you and your loved ones with our Personal Estate Planning Kit.
Information contained herein was accurate at the time of posting. The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Examples are for illustrative purposes only. References to tax rates include federal taxes only and are subject to change. State law may further impact your individual results. California residents: Annuities are subject to regulation by the State of California. Payments under such agreements, however, are not protected or otherwise guaranteed by any government agency or the California Life and Health Insurance Guarantee Association. Oklahoma residents: A charitable gift annuity is not regulated by the Oklahoma Insurance Department and is not protected by a guaranty association affiliated with the Oklahoma Insurance Department. South Dakota residents: Charitable gift annuities are not regulated by and are not under the jurisdiction of the South Dakota Division of Insurance.