An easy way to give and receive a fixed income
A charitable gift annuity is a contract between you and the Michigan Tech Fund. In exchange for your irrevocable gift of cash, securities, or real estate, the Michigan Tech Fund contractually agrees to pay a fixed sum each year for the lifetime of the one or two annuitants named by you. The older your designated annuitants are at the time of the gift, the greater will be the fixed income that the Michigan Tech Fund can agree to pay. Payments are made in quarterly or annual installments.
You can establish a charitable gift annuity with the Michigan Tech Fund with a gift of $10,000 or more. Your annuitants must be at least 60 years of age when payments begin. Regulations on charitable gift annuities may vary by state of residence, and they may not be available in all states.
Contact the Office of Gift Planning for more information.
Benefits of charitable gift annuities
- Simplest way to gain fixed income for life
- Immediate income tax deduction
- Partial tax-free income
- Partial avoidance of capital gains tax on gifts of appreciated assets
- Removal of assets from your taxable estate
- Potential increase of current income by converting low-yielding assets
- Future funding for the Michigan Tech program of your choice