Charitable Gift Annuity

Gifts That Pay You Income

There is a way for you to support St. Olaf College and feel confident that you have dependable income in your retirement years. You can do this with a charitable gift annuity. 

With a charitable gift annuity you agree to make a gift to St. Olaf and we, in return, agree to pay you (and someone else, if you choose) a fixed amount each year for the rest of your life. The balance is used to support learning at St. Olaf.

This gift vehicle can provide you with regular payments for life and allow St. Olaf to further our mission. You can also qualify for a variety of tax benefits, including a federal income tax charitable deduction if you itemize.

Gifts That Pay

Charitable gift annuities can be established with a gift of $10,000 or more. Your income payments depend on your age at the time of the contribution. For those 70 years or older, consider a charitable gift annuity that provides annual payments right away. If you are younger, consider deferring these income payments — the amount paid to you or another beneficiary increases the greater the deferment.

See How It Works

An Example of How It Works

Immediate Payments

Couple smilingOnce your gift is made, charitable gift annuities can start providing income payments monthly, quarterly, semi-annually, or annually for life. An example of how they work:

Dennis, 76, and Mary, 75, want to make a contribution to St. Olaf but they also want to ensure that they have dependable income during their retirement years. They establish a $10,000 charitable gift annuity.

Based on their ages, they will receive a payment rate of 4.7%, which means that they will receive $470 each year for the remainder of their lives. They are also eligible for a federal income tax charitable deduction of $3,813* when they itemize. Finally, they know that after their lifetimes, the remaining amount will be used to support Oles and St. Olaf College.

*Based on a 1.2% charitable midterm federal rate. Deductions and calculations will vary depending on your personal circumstances.

To learn more, download the free guide Charitable Gift Annuities: Gifts That Give Back.

 

Deferred Payments

Deferring annuity payments enables younger donors to receive tax benefits now and increase the income they receive — the longer the deferment the greater the payment. An example of how they work:

Couple smilingCraig, 56, and Douglas, 55, want to make a charitable gift this year that will help their and St. Olaf’s futures. They establish a $10,000 charitable gift annuity now that will provide income during their retirement years. They choose to defer payments until they are 71 and 70. Based on their current ages, they will receive a payment rate of 6.3%, which means that they will receive $630 each year for the remainder of their lives. They're also eligible for a federal income tax charitable deduction of $2,344* when they itemize. Finally, they know that after their lifetimes, the remaining amount will be used to support Oles and St. Olaf College.

Please provide the following information to view the brochure.

Deferred Gift Annuity Request Form
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*Based on a 1.2% charitable midterm federal rate. Deductions and calculations will vary depending on your personal circumstances.

Learn more about your options and download the free guide Deferred Gift Annuities: Plan Now, Benefit Later.

Calculate Your Benefits

Input a few details and see how a charitable gift annuity can benefit you.

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Next Steps

  1. Contact us at 800-776-6523 or plannedgiving@stolaf.edu for additional information on charitable gift annuities or to chat more about the personal benefits of creating an annuity with St. Olaf.
  2. Seek the advice of your financial or legal advisor.
  3. If you include St. Olaf in your plans, please use our legal name and federal tax ID.

Legal name: St. Olaf College
Address: 1520 St. Olaf Avenue
Northfield, MN 55057
Federal tax ID number: 41-0693979

Payments for Life

Learn more about the many benefits of a charitable gift annuity in our FREE guide Charitable Gift Annuities: Gifts That Give Back.

View My Guide
Personal Estate Planning Kit

Our Top Complimentary Resource

This comprehensive estate planning kit helps you protect your family and establish your legacy.

Download My Kit