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Establish a Planned Gift Annuity with Your IRA

Cheryl made her gift using a tax-deductible Qualified Charitable Distribution (QCD) from her IRA to set up a Charitable Gift Annuity (CGA). Her gift fulfills her philanthropic goal to support a rich, liberal arts experience at Wheaton.

"Looking back, I feel very lucky to have graduated from Wheaton. My friends and I have fond memories of college and we keep those wonderful memories alive through sustaining the cherished lifelong friendships we made while at Wheaton. Our college years were instrumental in shaping our dreams and goals for the future. Donating to Wheaton College ensures that I will be able to help students develop theirs, as well. As I have gotten older, it's natural to think more about the importance of 'giving back' and 'leaving a legacy.'

Supporting Wheaton student scholarships enables me to fulfill the personal goal of contributing to a rich, liberal arts educational experience for deserving students. I'm fulfilling a dream of being a part of something 'larger' than myself—what better way than through the gift of education? I firmly believe in trying to make my 'little corner of the world' just a little bit better, and this helps me accomplish that goal, as well.

I've donated to Wheaton's Annual Fund for years, and during our 50th Reunion year in 2021, I increased my annual donation with a 5-year pledge becoming a member of the Mary Lyon Leadership Society. Last December, I made another donation using a tax-deductible Qualified Charitable Distribution (QCD) from my IRA to set up a Charitable Gift Annuity (CGA).

Recently, I was shocked to learn that I was the first person to use this funding vehicle at Wheaton. I have designated this contribution to support student scholarships at the college.

Thank you, Wheaton, and keep up the great work!"

—Cheryl Caswell '71

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. You can make a one-time QCD of up to $55,000 from your IRA to Wheaton to establish a CGA.

Charitable gift annuity video

Using a QCD from your IRA to set up a CGA right for you?

Depending on your financial and philanthropic goals, a charitable gift annuity might be great way for you to support Wheaton.
IRA owners 70½ years of age and older are eligible to make a QCD using their IRA.
If you are 73 or older and must take your required minimum distribution (RMD), a QCD can satisfy your RMD without increasing your income, tax-free.
A QCD can satisfy all or part of a donor's annual required minimum distributions (RMD).
You can make a one-time qualified charitable distribution (QCD) of up to $55,000 from your IRA to Wheaton to establish a CGA and receive lifetime fixed payments for you and, if you choose, for your spouse.
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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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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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.