Charitable Gift Annuities
How it works
You transfer cash or securities to the University of Pittsburgh.
The University of Pittsburgh pays you, or up to two annuitants you name, a lifetime annuity.
The principal passes to the University of Pittsburgh when the contract ends.
- You receive an immediate income tax deduction for a portion of your gift.
- Your lifetime annuity is backed by a reserve and the full assets of the University of Pittsburgh.
- Your annuity payments are treated as part ordinary income, part capital gains income (20%), and part tax-free income.
- You have the satisfaction of making a significant gift that benefits you now and the University of Pittsburgh later.
At this time, the University of Pittsburgh is not able to offer CGAs in eight (8) states: California, Hawaii, New Jersey, New York, North Dakota, Oregon, Washington, and Wisconsin. Nevertheless, donors who are residents of any of these listed states – and have an interest in supporting the University of Pittsburgh – can employ other gifting vehicles to fulfill their philanthropic intents and to receive significant tax benefits.
For more information