Charitable gift annuity
A charitable gift annuity is an agreement between you and Bluffton University. In exchange for your charitable gift, Bluffton agrees to pay you and/or your loved ones a fixed annuity for life. The size of the payment is determined at the time the gift is made and will not fluctuate with the market. Bluffton University works with the Mennonite Foundation and issues gift annuities in amounts of $10,000 and greater.
Donors who choose to defer income for a period of years can take a larger immediate income tax deduction and will receive a higher payout once payments begin. "Deferred payment" gift annuities and "flexible starting date" gift annuities can be great retirement planning tools for younger donors.
When you establish a gift annuity, you receive an immediate income tax deduction for a portion of the gift, and this deduction can be used over as many as six consecutive tax years. If your gift is funded with appreciated assets, you can also reduce your capital gains liability.
Please contact a Bluffton development officer to run a gift annuity illustration or if you have questions concerning the current gift annuity rates based on your age. Using the gift planning calculator from the Mennonite Foundation - an Affiliate of Everence you can estimate the payout rate and deduction amount for your gift annuity or deferred payment annuity.