Create Income

Do you want to provide an income stream to yourself or your loved one for their lifetime and give a generous gift to UMass? A life income gift allows you to do both! Life income gifts can take the form of charitable gift annuities, deferred gift annuities and charitable remainder trusts.

Benefits Include:

  • Support for UMass Medical School/UMass Memorial
  • Income to the donor or a beneficiary for a term of years or for life
  • Favorable capital gains treatment on appreciated assets
  • Charitable income tax deduction (for a portion of the value) in the year of the gift

Charitable Gift Annuities

A charitable gift annuity offers you a way to support UMass Medical/UMass Memorial and lock in a fixed, high rate of return in place of the low rates CDs and money market accounts are paying. You can diversify your income with minimal capital gains taxes. Rates are based on age, and range from 5.7 percent for age 60 (the minimum age) to 11.3 percent for ages 90 and above.

UMass’s charitable gift annuity rates are based on the recommendations of the American Council on Gift Annuities (ACGA), a national non-profit organization that uses detailed actuarial calculations and investment return expectations to publish suggested annuity rates for charities. To view gift annuity rates, click here.

Deferred Gift Annuities

This can be an attractive option for donors as young as age 50 who may wish to supplement future income. Payments begin at a future date and you receive:

  • A fixed income for life,
  • A partial income tax deduction in the year the gift is made, and
  • An opportunity to defer capital gains tax.

Charitable Remainder Trusts

Yet another gift offering a lifelong income stream and significant tax benefits, charitable remainder trusts can be arranged for gifts of $100,000 or more.

 

 

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UMass Medicine
Development Office
333 South Street
Shrewsbury, MA 01545
icoMailgiving@umassmed.edu
icoPhone(508) 856-5520
www.umassmed.edu/development

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