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Gift Annuities

Gift Annuities: An attractive option for retirement income

Alverno College’s gift annuity program allows you to create a steady, dependable stream of lifetime income and an income tax charitable deduction. Plus, you have the knowledge that you are helping Alverno College.

Benefits of a gift annuity:

  • Attractive rates of return. Gift annuity rates usually surpass what you might receive from a certificate of deposit.

  • Regular payments. You will receive predetermined quarterly payments from your annuity, which is helpful for planning and budgeting purposes.

  • Fixed income. Your payment rate is locked in at the time you obtain a gift annuity.

  • Lifetime benefit. No matter what your age as an annuitant or how long you live, your payments will continue. And if you have a two-life gift annuity, when one person dies, the other can continue to receive the same amount for the rest of his or her life.

  • Dependable source. Alverno College has a reserve fund set aside to meet our annuity obligations and we back up our annuity obligations with the full financial assets of the College.

  • Relief from taxes. You will receive an income tax charitable deduction if you complete an itemized tax return and can claim part of the annuity payment as tax-free income.

  • Simple set up process. Obtaining a gift annuity from Alverno College is much easier than other financial transactions. We provide you with a customized illustration using your age, your spouse’s age (if appropriate) and the amount of your contribution. You then have this detailed illustration to share with your family and financial advisors.

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