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Charitable Gift Annuity

Susan and Joe established multiple charitable gift annuities (CGAs) with Wheaton—receiving financial benefits today and ensuring their generosity will support students for years to come.

"Perhaps unusual for most alumni, I have 'attended' Wheaton several times—as a student, as a bride in Cole Memorial Chapel, and as a staff member, a trustee and recipient of an alumni award and honorary degree. These experiences helped shape my thinking and approach to life's complexities and gave me the tools to succeed and grow.

My husband, Joe, and I want to see Wheaton prosper into the future. So, we established a charitable gift annuity a few years ago and another one just recently. We are able to reap the benefits, financially as well as emotionally, knowing that the funds provided now will help students and the college for many years to come. All of our philanthropic support is crucial to the college's ability to provide excellence in an increasingly competitive environment."

— Susan Stampler Paresky '68

What is a charitable gift annuity?

A charitable gift annuity is a gift made to Wheaton that can provide you a secure source income with fixed payments for life.

Charitable gift annuity video

Is a charitable gift annuity right for you?

Depending on your financial and philanthropic goals, a charitable gift annuity might be great way for you to support Wheaton. The payout for charitable gift annuities will vary depending on your age.

Learn more about charitable gift annuities.

Booklet

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Calculate Benefits

The charitable gift annuity calculator generates a printable presentation that shows how you can benefit from fixed payouts that may be partly tax free plus a charitable tax deduction.

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Number of Beneficiaries

One Two

Click the appropriate button for a presentation of one or two beneficiaries. Selecting one beneficiary will cause the second beneficiary and the associated name and birthdate fields to be hidden from view.

First Beneficiary

Enter the name of the person. You may use such titles as "Mr.", "Mrs.", "Dr.", "Rev.", "Jr.", "Sr.", etc. For the remainder unitrust the first person is the first income recipient or beneficiary of the agreement.

First beneficiary is required

Birthdate

Month:

Day:

Year:

Please enter a valid birthdate for the first beneficiary

Birth month of the first beneficiary is required

Birth day of the first beneficiary is required

Birth year of the first beneficiary is required

You may enter the age of the person instead of the birth date. However, if the birth date is known, enter the birth date. Since ages are to be rounded up if the gift date is within six months of the next birth date, entering the birth date is the most accurate method.

Second Beneficiary

Second beneficiary is required

Birthdate

Month:

Day:

Year:

Please enter a valid birthdate for the second beneficiary

Birth month of the second beneficiary is required

Birth day of the second beneficiary is required

Birth year of the second beneficiary is required

Income Tax Rate

Select the current federal income tax rate of the donor. This will be used to project possible income tax savings. If you are uncertain about the correct rate, you may choose one of the middle rates. For many people, this will be close to their actual income tax rate.

Property Value $

Please enter a valid property value

Property value is required

Enter the amount of cash or the fair market value (FMV) of the asset(s) used to fund the CGA. For assets such as real estate, closely-held stock and other hard to value assets, the FMV is the appraised value of the property on the date of the gift.

Cost Basis $

Please enter a valid cost basis

Cost basis is required

Enter the cost basis of the asset being used to fund the trust or annuity. If the asset is cash, the cost basis is equal to the gift amount. If it is appreciated property, the cost basis will most likely be the amount you originally paid for the property. The cost basis is used to determine the capital gains tax which will be bypassed as a result of selling the asset. If the cost basis is not known or cannot be proven, the IRS assumes the cost basis to be $0. If cash funds the gift annuity, enter the same value as "Value of Property."

Payment Frequency

Select either monthly, quarterly, semiannual, or annual income payments to the beneficiary(ies) of the income. The choice of payment frequency does affect the amount of the charitable deduction as the more frequent the payment (i.e. monthly as opposed to annually), the smaller the donor's tax deduction.

Under the Internal Revenue Code, the charitable income tax deduction must be at least 10% of the initial value. The payout amount has been lowered to qualify under the IRS 10% deduction test. This calculation includes a safety factor of 0.04%. The deduction factor will be 0.10040 or greater. The Maximum Payout Rate by Crescendo 10% Deduction Test: cres_calc_maxrate10

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Make a Gift From My DAF

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Your Name

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Comments

Thank you for considering a DAF gift to us. Click on the website link to your DAF provider. It will take you to a third party website. You may be able to log in and recommend a grant to Wheaton College. Another option is to call your DAF provider to recommend a DAF gift. If you would like to notify us of your generous gift, please complete the Notify us of your DAF Gift section.

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Notify us of your DAF gift

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Comments

Thank you for considering a DAF gift to us. A sample letter is available to send to your DAF provider. You may save and print the PDF of your letter. If you have email contact information for your DAF provider, you may send a PDF copy of your DAF letter or you may copy and paste the text into an email. You will need to enter the amount of your recommended grant and your DAF account number on the letter before mailing. If you would like to notify us of your generous gift, please complete the Notify us of your DAF Gift section.