Gifts That Pay You Income
You Give. You Receive.
Payments for LifeLearn more about the many benefits of a charitable gift annuity in our FREE guide Strengthen Your Future With a Charitable Gift Annuity.View My Guide
There's a way for you to support Pennsylvania State University and feel confident that you have dependable income in your retirement years. You can do this with a charitable gift annuity.
This type of donation can provide you with regular payments and allow us to enrich the educational experience of future Penn State students. You can also receive a variety of tax benefits, including a federal income tax charitable deduction.
Learn more by viewing our Charitable Gift Annuity fact sheet.
Gifts That Pay
Your payments depend on your age at the time of the donation. If you are younger than 60, we recommend that you learn more about your options and download this FREE guide Plan for Retirement With a Deferred Gift Annuity.
See How It Works
An Example From Penn State
Penn State alumnus and former employee, Lynn Donald Breon, is no stranger to Penn State. Having a particular fondness for the performing arts, Don chose to give through a charitable gift annuity, which, in addition to providing unrestricted support in the future for the University's Center for the Performing Arts, offers Don advantages of his own.
Among the easiest and most popular methods to make a planned gift to Penn State, a charitable gift annuity enables a person to give a donation to the Penn State program of his or her choice and continue to receive dependable fixed payments from the University. In this case, upon the donor's death, the remainder of the annuity can be put to use by the Center for the Performing Arts.
"This is a situation that can benefit both the University and its supporters. You donate money to the program of your choice and receive a high return rate and four annuity payments throughout the year, most of which are tax-free," says Don, who majored in accounting and graduated from Penn State with a bachelor's of science degree in business administration in 1959. "More people need to be made aware of this option."
Regarding the unrestricted nature of the gift, says George Trudeau, director of the Center of Performing Arts: "We are honored by the trust Don has placed in us-both now and in the future when the gift matures-which will give us the flexibility to utilize the funds to the best advantage for the Center and its programs."
Donors age 60 and older can establish an immediate-payment charitable gift annuity with a minimum contribution of $10,000. Younger donors, meanwhile, can create a deferred-payment charitable gift annuity with a minimum of $5,000. In all cases, donors can specify what Penn State program, department, college, or campus they would like their gift to benefit.
Read the full story on Lynn Donald Breon's gift.
Calculate Your Benefits
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- Contact Michael J. Degenhart at 888-800-9170 (toll free) or firstname.lastname@example.org for additional information on charitable gift annuities or to chat more about the personal benefits of creating an annuity with Penn State.
- Seek the advice of your financial or legal advisor.
- If you include Penn State in your plans, please use our legal name and federal tax ID.
Legal Name: The Pennsylvania State University
Address: c/o Office of Gift Planning, 214 The 103 Building, University Park, PA 16802
Federal Tax ID Number: 24-6000-376
The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in examples are for hypothetical purposes only and are subject to change. References to estate and income taxes include federal taxes only. State income/estate taxes or state law may impact your results. Annuities are subject to regulation by the State of California. Payments under this agreement, however, are not protected or otherwise guaranteed by any government agency or the California Life and Health Insurance Guarantee Association. A charitable gift annuity is not regulated by the Oklahoma Insurance Department and is not protected by a guaranty association affiliated with the Oklahoma Insurance Department. Charitable gift annuities are not regulated by and are not under the jurisdiction of the South Dakota Division of Insurance.