Charitable Gift Annuity
A Charitable Gift Annuity (CGA) is a planned gift that offers tax advantages and a lifetime income stream.
How an annuity works
- The donor transfers cash or marketable securities to the University.
- The income rate and charitable tax deduction are determined by the donor's age and the number of beneficiaries (either one or two) at the time the gift is made.
- When the last beneficiary dies, the remainder of the gift annuity is returned to Bucknell.
- Gift minimum: $10,000
Benefits of an annuity
- It provides an immediate income tax deduction for a portion of the gift.
- The donor saves on capital gains tax if the annuity is funded with appreciated assets.
- The donor or designated beneficiaries receive secure lifetime income backed by all the assets of the University.
Types of charitable gift annuities
With an Immediate Payment CGA, payments begin right away.
A Deferred Payment CGA allows the donor to delay the start of payments until a future date. The annuity rate and charitable deduction will increase the longer payments are delayed.
A Flexible Deferred Payment CGA allows the donor to select a range of future start dates. The annuity rate and charitable deduction are based on the earliest date in the range.
›› We are proud to announce receipt of Bucknell's Certificate of Authority, approved by the California Department of Insurance, allowing the University to offer charitable gift annuities in the state of California. The application process and approval took more than three years and we are very pleased to offer this gift option to our California alumni.
Bucknell is not currently issuing annuity contracts in New York, Tennessee, Michigan, and Hawaii. Residents of these states who would like to fund a gift annuity to benefit Bucknell should contact the Gift Planning Office at 570-577-3271 to discuss available options.
Charitable gift annuities are particularly popular gift plans at Bucknell and a great way to secure guaranteed and generous income, and they also count toward Reunion and campaign goals. Please call (570-577-3271) or email (firstname.lastname@example.org) if you would like to receive a personal illustration or discuss your gift annuity options.