Charitable Gift Annuity

Gifts That Pay You Income

When you are looking for ways to support the University of Maryland, you should not feel like you are choosing between your philanthropic goals and financial security. With a charitable gift annuity you agree to make a gift to Maryland and we, in return, agree to pay you and/or another individual a fixed amount each year for the rest of your life. The remaining balance is then distributed to the university to support the area(s) you designate.

Not only does this gift allow us to further our mission, you can 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 $50,000 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.

Gifts That Pay

Your payments depend on your age at the time of the donation. If you are younger than 60, we recommend that you learn more about your options and download this FREE guide Deferred Gift Annuities: Plan Now, Benefit Later.

Please provide the following information to view the brochure.

Deferred Gift Annuity Request Form
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See How It Works

An Example of How It Works

Couple smiling Dennis, 75, and Mary, 73, want to make a contribution to Maryland but they also want to ensure that they have dependable income during their retirement years. They fund a $25,000 charitable gift annuity with appreciated stock that they originally purchased for $10,000.

Based on their ages, they will receive a payment rate of 5.7%, which means that they will receive $1,425 each year for the remainder of their lives. They are also eligible for a federal income tax charitable deduction of $10,306* 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.

Next Steps

  1. Contact the Office of Gift Planning at giftplanning@umd.edu or 866.646.4UMD for additional information on charitable gift annuities or to chat more about the personal benefits of creating an annuity with Maryland.
  2. Seek the advice of your financial or legal advisor.
  3. If you include Maryland in your plans, please use our legal name and federal tax ID.

Legal name: University of Maryland College Park Foundation
Address: 4603 Calvert Road, College Park, MD 20740
Federal tax ID number: 52-2197313

Additional Resources

Payments for Life

Learn more about the many benefits of a charitable gift annuity in our FREE guide Charitable Gift Annuities: Gifts That Give Back.

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