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A gift that allows me to retain an income

Planned Gifts that Allow me to keep an income

Click on the options below for more information about each type of planned gift.

What is a Charitable Gift Annuity (CGA)?

A charitable gift annuity (CGA) is often a gift of choice when a guaranteed income is desired. A gift of cash or securities is transferred Wilkes University in exchange for a contractual life income paid monthly or quarterly.

The typical donor:
  • Needs guaranteed income for life.
  • Wants a fixed income based on the original value of assets transferred.
  • Desires to make a "present gift" for estate planning purposes.
  • Does not plan to make additional gifts to the annuity.
  • Is between the ages of 65 and 80.
     

Gifts features and benefits:

  • Income for life (fixed payments)
  • Part of the income is tax free
  • Possibility of one or two income beneficiaries
  • Guaranteed contractual agreement
  • Federal tax charitable deduction
  • Partial forgiveness of capital gain


For more information on Charitable Gift Annuities, please contact Sue Jolley, Director of Special Gifts, 570-408-7832, susan.jolley@wilkes.edu

What is a Charitable Remainder Unitrust (CRUT)?
The most popular and flexible type of life income plan is a charitable remainder unitrust (CRUT). Cash, securities, real property, or other assets are transferred into the trust. The trustee manages the trust assets and pays you or others you choose a variable income for life or for a term of years. When the trust terminates, the remaining assets in the trust are transferred to Wilkes University.
 
The typical donor:
  • Needs income for life or a specified term of years.
  • Desires more income as the trust value increases.
  • Tolerates some investment risk to provide for growth.
  • Wants to make additional gifts to the trust.
  • Is between the ages of 55 and 80.
     
Gifts features and benefits:
  • Income for life (variable payments)
  • Available if needed during life (gift at death)
  • Assets transferred to the trust can be reinvested
  • Ability to choose the trustee (may be the donor)
  • Flexible investment possibilities for the beneficiary
  • Avoid ALL capital gains tax on any appreciated assets you donate at the time of funding.

Do you have questions or would like more information about a Charitable Remainder Unitrust? Please contact Angela Buckley at 570-408-7833 or at angela.buckley@wilkes.edu.
 
What is a Charitable Remainder Annuity Trust (CRAT)
A charitable remainder annuity trust (CRAT) is a popular type of life-income plan. Cash, securities, real property, or other assets are transferred into a trust. The trustee manages the trust assets and pays you or others you choose a fixed income for life or for a term of years. When the trust terminates, the remaining assets in the trust are transferred to Wilkes University.
 
The typical donor:
  • Needs income for life or a specified term of years.
  • Desires a fixed income based on the original value of assets transferred.
  • Does not plan to make additional gifts to the trust in the future.
  • Is between the ages of 55 and 80.
     
Gifts features and benefits:
  • Income for life (fixed payments)
  • Possibility of multiple beneficiaries
  • Assets transferred to the trust can be reinvested
  • Ability to choose the trustee (may be the donor)
  • Investment of assets is designed to balance income needs with preservation of principal
 

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