Life Income Gifts

A life income gift, such as a Charitable Gift Annuity or a Charitable Remainder Trust, can provide you and/or your loved ones with income for the duration of your lives or for a specific number of years. You may receive a current income tax deduction, as well. 

Charitable Gift Annuity

A Charitable Gift Annuity is a simple contract between the donor and the University of Richmond. In exchange for cash or appreciated securities, the donor receives guaranteed fixed payments for life. By making this donation to Richmond, the University will make regular, fixed payments to up to two individuals for the rest of their lives. This can include you, a spouse, children, parents, or friends and loved ones. You cannot outlive the benefits of a Charitable Gift Annuity.

In addition to these fixed annuity payments, you receive a charitable tax deduction in the year you make your gift. After the beneficiaries of the annuity have passed, the University of Richmond receives the remaining funds. The University offers competitive rates and, if the annuity is funded with appreciated securities, the capital gains tax will be disbursed over the lifetime of the annuity.

Charitable Remainder Trust

A Charitable Remainder Trust is an agreement with the University or other trustee. Payments from the Charitable Remainder Trust to the income beneficiary are either a set amount or a percentage of the trust corpus, as valued annually. Gifted assets may be cash, appreciated securities, or real estate.

Charitable Lead Trust

A Charitable Lead Trust is an agreement with the University or other trustee that provides payments to the University of Richmond for a term of years. At the end of the term, the principal is distributed to the donor, the donor’s family, or some other non-charitable beneficiary. These trusts can be used to transfer assets to a loved one with a significantly reduced tax liability.