​Charitable Gift Annuities

Rotunda at night

​Charitable Gift Annuities

Overview

Receive Guaranteed Income for Life

A charitable gift annuity is a simple contract between the donor and the University. The donor makes a gift to the school or program of their choice, and in return, the University makes fixed payments to the donor for life. At the end of the contract term, the remainder is used for the purpose(s) the donor designated.

  • A gift annuity is an irrevocable gift to the University of Virginia.
  • A gift annuity may be established with a minimum of $5,000 (cash, appreciated securities, or real estate).
  • The minimum age to fund an immediate gift annuity is 55.
  • The amount of the annuity payment depends on the age of the individual receiving the income or the combined age of two beneficiaries.
  • You may claim a charitable tax deduction in the year of the gift or up to five years after the gift is made. The deduction is the present value of the expected future gift.
  • If you fund your annuity with appreciated assets, capital gains will not be realized in the year of the sale.
  • Usually, a portion of the annuity income is tax-free.