Make a Gift That Pays You Income
There's a way for you to support the University of Kentucky and feel confident that you have dependable income in your retirement years. You can do this with a charitable gift annuity.
This type of donation can provide you with regular payments and further UK’s work to continue to improve people's lives through excellence in education, research and creative work, service and health care. You can also qualify for a variety of tax benefits, including a federal income tax charitable deduction when you itemize.
Gifts That Pay
Your payments depend on your age at the time of the donation. If you are younger than 60, we recommend that you learn more about your options and download this FREE Guide Plan for Retirement with a Deferred Gift Annuity.
An Example of How It Works
Dennis, 66, and Mary, 65, want to make a contribution to UK but they also want to ensure that they have dependable income during their retirement years. They establish a $20,000 charitable gift annuity.
Based on their ages, they will receive a payment rate of 4.5 percent, which means that they will receive $900 each year for the remainder of their lives. They're also eligible for a federal income tax charitable deduction of $6,129* when they itemize. Finally, they know that after their lifetimes, the remaining amount will be used to support future UK students.
*Based on annual payments and a 3.2 percent charitable midterm federal rate. Deductions and calculations will vary depending on your personal circumstances.