A charitable gift annuity (CGA) is an excellent way to increase your income, reduce your taxes and make a generous future gift to Cal Poly at the same time. This is how it works:
You make an irrevocable transfer of cash or marketable securities to Cal Poly. In exchange, Cal Poly agrees to make fixed payments to you or others for life.
A portion of this income will be tax-free over your life expectancy and you will receive a partial income tax deduction for your gift.
In addition, the assets transferred in exchange for your CGA will be considered outside your estate for federal and state estate tax purposes.
Cal Poly uses the rates suggested by the American Council on Gift Annuities, which are reviewed annually and adjusted based on a variety of economic factors. Below are the current and upcoming rates:
Rates for one beneficiary – effective July 1, 2007 to June 30, 2008 Word pdf
Rates for two beneficiaries – effective July 1, 2007 to June 30, 2008 Word pdf
Rates for one beneficiary – effective July 1, 2008 to June 30, 2009 Word pdf
Rates for two beneficiaries – effective July 1, 2008 to June 30, 2009 Word pdf
It is also possible to establish a gift annuity now, but delay receiving payments until a later date that you determine. Called a Deferred Gift Annuity, this life income gift provides a higher payment and can be an effective way of securing supplemental income during retirement.
For customized calculations on a confidential basis on how a CGA can benefit you, please call Stacy Cannon, Director of Planned Giving and Endowments at (800) 549-2666 or (805) 756-7125, by fax at (805) 756-2711 or email at plannedgiving@calpoly.edu.
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