Charitable gift annuities are the gift that gives back.
Make a gift and start receiving fixed payments for life. For more information contact the WOSU Advancement Team at 614-292-9878 or advancement@wosu.org.
Charitable gift annuities are easy to understand and implement. In exchange for a gift of cash or long-term appreciated stock or bonds, The Ohio State University Foundation, on behalf of WOSU Public Media, promises to pay a fixed amount to one or two beneficiaries for the rest of their lives. Upon the death of the last beneficiary, the balance of the gift annuity benefits WOSU as specified by you in the contract.
Your charitable gift annuity is a combination of a gift to WOSU and an annuity. A two-life annuity continues to pay as long as either life income beneficiary is alive. The payout rates are dependent on the age and number of life income beneficiaries. In general, the older the life income beneficiary, the higher the rate.
You can claim a current income tax charitable deduction for the portion of the transfer that represents the charitable gift element—the amount by which the fair market value of the property transferred to us exceeds the present value of the annuity received.
Benefits
- Guaranteed fixed lifetime payment at an attractive annuity rate
- Freedom from investment responsibilities
- Current income tax charitable deduction
- Possible tax-free income
- Potential estate tax savings
- Ability to direct your gift to the specific purpose or fund of your choice at WOSU
How It Works
For example, donors, both age 75, transfer $100,000 in cash to fund a 4.6% charitable gift annuity for their lives. Donors receive $4,600 annually for the rest of their lives and when they both have passed away, WOSU receives the remainder. Donors receive an upfront income tax charitable deduction of $37,088, which can be used to offset taxes for the current year, then up to five (5) additional years.
This example is for illustrative purposes only. Deductions and calculations will vary depending on your personal circumstances.
Make a gift and start receiving fixed payments for life. For more information contact the WOSU Advancement Team at 614-292-9878 or advancement@wosu.org.
WOSU Public Media is part of The Ohio State University. All WOSU Public Media gifts and endowments are managed through The Ohio State University Foundation, the university’s primary fundraising and gift-receiving organization. The Ohio State University Foundation does not provide legal, tax or financial advice to its donors or their advisors. We encourage you to review your gift plans with your legal and tax advisor to determine the best plan for you.