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Planned Giving for Financial Advisors

Charitable Gift Annuity — Immediate

Charitable Gift Annuity Gift Diagram

How they work

  • Your client transfers cash or securities to Harper College Educational Foundation in exchange for a gift annuity. Our minimum funding value is $10,000.
  • Harper College Educational Foundation pays your client, your client and her spouse, or up to two beneficiaries your client names, fixed annuity payments for life. All beneficiaries must be at least 65 years of age when annuity payments begin.
  • At the end of the contract term, the remaining contract balance will be applied by Harper College Educational Foundation to the purpose your client stipulated when she made her gift.

Benefits for your client

  • Your client will receive an immediate income tax deduction for the charitable portion of her gift.
  • Your client or her named beneficiary/ies will receive dependable, fixed income for life.
  • Your client's annuity payments will be treated as part ordinary income, part capital gains income and/or part tax-free income, depending on the assets used to create the contract.
  • Payments are typically much higher than your client's return on low-earning savings accounts and CDs or low-dividend stock.
  • Your client will have created a meaningful gift for Harper College Educational Foundation while providing income for herself of her named beneficiary/ies.

For a younger client, consider a Deferred Gift Annuity. If you client wants a flexible annuity start date, consider a Flexible Gift Annuity.

If your client is interested in compressing all annuity payments into a shorter period of time, consider a Commuted Payment Gift Annuity.

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