Areas of Need

Future Gifts

Consider a Charitable Gift Annuity for Your Year-End Gift

How It Works
A CGA is a simple contract between you and the University of Minnesota Foundation. You make a donation of cash or marketable securities, and we reinvest the assets and agree to make fixed payments to you for your lifetime (and that of another person, if you choose). After both of your lifetimes, the remaining funds become available for our use.

Your Income Tax Relief
You are entitled to a charitable income tax deduction if you itemize your deductions; sometimes the charitable deduction alone is large enough to allow you to itemize for that tax year.

Tax Tip
The income tax deduction for a charitable gift annuity is not equal to the amount used to fund the CGA, but rather the projected amount our organization is to eventually receive in the future. That calculation depends, in part, on the number and ages of those receiving payments and the payout—the older you are, the higher the deduction and payout rate.

We Can Help You Take the Next Step
If you're interested in setting up a charitable gift annuity with the University of Minnesota Foundation, contact Planned Giving at 612-624-3333 or 800-775-2187 or plgiving@umn.edu. We would be happy to help you, at no obligation.

The information in this Web site is not intended as legal advice. For legal advice, please consult an attorney. Figures cited in examples are for hypothetical purposes only and are subject to change. References to income tax apply to federal taxes only. Federal estate tax, state income/estate taxes or state law may impact your results.