For over 120 years, members of the Wheaton College family have utilized the charitable gift annuity to provide financial support for the College and a lifetime income stream for themselves.
A gift annuity is established when you make a gift to Wheaton College and in return, the College agrees to make annual, fixed-dollar payments for the lifetime of the person(s) you designate to receive the payments.
There are two basic types of charitable gift annuities:
The current payment gift annuity begins making payments immediately and is generally most appropriate for people age 60 and older.
The deferred gift annuity defers the annuity payments for a year or longer. Because the payment is deferred, deferred gift annuity rates are higher than current gift annuity rates. The deferred gift annuity is an alternative for people who do not need the extra income until later, want a higher annuity rate, but still want a current income tax deduction.
Income Stream for Life
The annuity payment is a fixed-dollar amount paid to you for as long as you live and is backed by the assets of Wheaton College. The payment can be made annually, semi-annually, or quarterly. The annuity rate is based upon the age of the person(s) receiving the payments.
You will receive a partial income tax deduction for your contribution to the gift annuity, and your annuity payments will be partially tax-free. Also, if you contribute appreciated stock, ETFs, or mutual funds to a gift annuity, you will partially avoid capital gains and stretch out recognition of any remaining capital gains over the life of your annuity payments.