Turn Your Generosity Into Lifetime Income
Charitable Gift Annuities
When you are looking for ways to help Colorado College prepare students for lifelong learning and leadership, you shouldn't feel like you are choosing between your philanthropic goals and financial security. One gift that allows you to support CC's students and programs while receiving fixed payments for life is a charitable gift annuity.
You can choose among three types of charitable gift annuities: standard (or immediate), deferred or flexible deferred. Standard CGAs start the year you enter the agreement and provides you income for your immediate needs. A deferred charitable gift annuity allows you to choose a future date and provides an income boost at a later date with a higher payment rate and larger tax deduction. A flexible deferred charitable gift annuity starts at a date you choose later during a designated time period. The date is flexible and includes a higher payment rate and larger tax deduction.
Not only does this gift provide you with regular payments and allow us to open doors to future generations of students, but when you create a charitable gift annuity with CC you can receive a variety of tax benefits, including a federal income tax charitable deduction.
Check Out This Potential Scenario
Say that Justin, 66, and Mary, 65, want to make a contribution to CC that will support our students and programs for generations to come, but they also want to ensure that they have dependable income during their retirement years. They establish a $20,000 charitable gift annuity with CC. Based on their ages, they will receive a payment rate of 4.3 percent, which means that they will receive $860 each year for the remainder of their lives. They're also eligible for a federal income tax charitable deduction of $5,544* when they itemize. Finally, they know that after their lifetimes, the remaining amount will be used to support our mission.
*Based on annual payments and a 2.4 percent charitable midterm federal rate. Deductions vary based on income earned.
See How It Works
Calculate Your Benefits
Submit a few details and see how a charitable gift annuity can benefit you.
- Contact Stephany Marreel, director of gift planning at (719) 389-6231 or firstname.lastname@example.org for additional information on charitable gift annuities or to chat more about the personal benefits of creating an annuity with CC.
- Seek the advice of your financial or legal advisor.
- If you include CC in your plans, please use our legal name and Federal Tax ID.
Legal Name: Colorado College
Address: 14 East Cache La Poudre St., Colorado Springs, CO 80903
Federal Tax ID Number: #84-0402510
The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in examples are for hypothetical purposes only and are subject to change. References to estate and income taxes include federal taxes only. State income/estate taxes or state law may impact your results. 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. 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. Charitable gift annuities are not regulated by and are not under the jurisdiction of the South Dakota Division of Insurance.