The charitable gift annuity is a gift that pays you fixed payments based on your age. The older you are, the greater your annuity rate. In fact, of all the gifts that pay you back, the gift annuity may be the simplest and most affordable. Here are some of the features that make the gift annuity a popular life-income gift:
|How does it work?||Benefits|
|You transfer cash or securities to Niagara University.||Receive an immediate tax deduction for a portion of your gift.|
|Niagara University pays you or one other beneficiary you name fixed income for life.||Receive dependable, fixed income for life in return for your gift.|
|The remaining balance passes to Niagara University when the contract ends at the death of the last beneficiary.||A portion of your annuity payment will be tax-free.|
Charitable Remainder Unitrust
Sometimes we want to make a charitable gift but are deterred by the fact that we are still drawing from the bucket of income we have set aside for special uses: retirement, college funding, helping our loved ones in need, etc. If this is the case with you, then consider the charitable remainder unitrust, one of the most flexible gift plans available. The unitrust unlocks your ability to make a significant gift to Niagara University while addressing multiple financial and family needs. The unitrust is an individually managed trust paying its beneficiaries – you, your spouse, family members, or other individuals – income as a fixed percentage of the value of its principal, which is revalued annually. In general, here's how a unitrust works:
The unitrust pays income for the lifetimes of the beneficiaries, for a term of up to 20 years or for a combination of both.
Beneficiaries receive a fixed percentage of the value of the trust’s principal, which is revalued annually.
Income in excess of that unitrust amount is reinvested to maintain principal and allow for growth.
When your unitrust terminates – at the death of the last beneficiary or at the end of the trust term – the remaining balance will be available to Niagara University for the use you designated when you created the trust.
|How does it work?||Benefits|
|You transfer cash or property to the trust.||If you fund the unitrust with appreciated securities or property, no up-front capital gains are due. You also receive a charitable deduction when you create a unitrust.|
|Niagara University pays you or another beneficiary you name fixed income for life.||No capital gains are applied to the growth of a unitrust’s principal.|
|The remaining balance passes to Niagara University when the contract ends at the death of the last beneficiary.||Trust remainder provides generous support to Niagara University and is used for the purpose you intended.|
Charitable Remainder Annuity Trust
I’ve heard about a charitable remainder annuity trust. Is there a difference?
Yes. A charitable remainder unitrust pays the beneficiary a fixed percentage of the principal of the trust as it is revalued annually. This type of trust provides the donor with the flexibility to make additional gifts to the trust. In contrast, a charitable remainder annuity trust pays the beneficiary a fixed dollar amount, which is determined when the trust is established. Additional gifts to this type of trust are not permitted.
Niagara’s official name and address:
Tax ID Number
Niagara’s federal tax ID number is: