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Charitable Gift Annuity

A charitable gift annuity can provide you with stable, regular income (regardless of the economy) and help WMU continue to thrive. With a CGA, you transfer cash or appreciated property to Western Michigan University Foundation, and we pay you a fixed amount for the rest of your life.

Flowchart: Donor funds a charitable gift annuity with stock or cash. The donor receives fixed gift annuity payouts and the WMU receives the remainder after all payouts have been made.

Benefits of a charitable gift annuity

  • You or a loved one you designate will receive fixed payments for life.
  • Provides a charitable income tax deduction for the charitable gift portion of the annuity.
  • Benefit from payments that may be partially tax-free.
  • Help ensure that students at WMU have the opportunity to pursue their purpose and thrive.

How a charitable gift annuity works

A charitable gift annuity is a contract between you and Western Michigan University Foundation.

  1. You transfer cash or property to Western Michigan University Foundation.
  2. In exchange, we sign an annuity contract and promise to pay fixed payments to you for life. Payments will vary depending on your age, and a portion of each payment may even be tax free.
  3. You will receive a charitable income tax deduction for the gift portion of the annuity.

If you decide to fund your gift annuity with cash, a significant portion of the annuity payment will be tax free. You may also make a gift of appreciated securities to fund a gift annuity and avoid a portion of the capital gains tax. Please contact us to inquire about other assets that you might be able to use to fund a charitable gift annuity.

Contact us

For questions or more information about charitable gift annuities, contact us. We're here to help and would be happy to assist you.

Additional information

Current charitable gift annuity (payments begin within one year). With a current gift annuity, you may transfer cash or property in exchange for our promise to pay you fixed payments beginning as early as this year. You will receive an income tax charitable deduction this year for the value of your gift to Western Michigan University Foundation.

Deferred charitable gift annuity (for payments at future date). Perhaps you are not ready to begin receiving payments until a future date, such as when you retire. With a deferred gift annuity, you establish the gift annuity today, receive a charitable income tax deduction this year, but defer the payments until a designated date sometime in the future. Best of all, because you deferred the payments, your annual payment will be higher when the payments start than they would have been with a current gift annuity.

Flexible deferred charitable gift annuity (gives you flexibility as to when the payments will start). With a flexible deferred gift annuity, you retain the flexibility to decide when the annuity will begin making payments. As with a deferred gift annuity, you establish the annuity today and receive a charitable deduction this year, but the payments are deferred until the time you specify to begin receiving the payments.

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