Deferred Charitable Gift Annuity
- You make a gift of cash or securities to Berkeley.
- The annuity contract provides that we will pay to you — or to one or two individuals you name — fixed annuity payments for life, beginning on a specified date in the future.
- When the contract ends, Berkeley will use the remainder of the annuity to support the programs you designate.
- Each income beneficiary needs to be at least 65 years old when the annuity is created, with payments starting no earlier than age 70.
- All of the benefits of an immediate payment gift annuity.
- Because payments are deferred until a future date, the annuity rate is higher than it would be with an immediate payment annuity and the income tax charitable deduction is larger.
- The future start date for payments can be designed to coincide with important life events, e.g., your retirement or a grandchild’s college years.
*For appreciated assets such as stocks/bonds held more than one year
The Secure Act 2.0 effective January 1, 2023 prohibits the one-time IRA qualified charitable distribution (QCD) for deferred payment or flexible payment charitable gift annuities.