Charitable Gift Annuities
Turn Your Patriot Generosity Into Lifetime Income
There's a way for you to support George Mason 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 Mason to help our students succeed, enrich the life of our community and contribute to solving some of the most complex global problems of our time. You can also qualify for a variety of tax benefits depending on how you fund your gift.
If you fund your gift annuity with cash or appreciated property, you qualify for a federal income tax deduction if you itemize. In addition, you can minimize capital gains taxes when you fund your gift with appreciated property.
And now, you can fund your gift using your. If you are 70½ and older, you can make a one-time election of up to $50,000 to fund a gift annuity. While your gift does not qualify for an income tax deduction, it does escape income tax liability on the transfer and count toward all or part of your required minimum distributions.
Gifts That Pay at George Mason
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 of Mason Philanthropy at Work
Dennis, 66, and Mary, 65, want to make a contribution to Mason but they also want to ensure that they have dependable income during their retirement years. They establish a $20,000 charitable gift annuity.
Based on their ages, they will receive a payment rate of 4.8%, which means that they will receive $960 each year for the remainder of their lives. They're also eligible for a federal income tax charitable deduction of $7,649* when they itemize. Finally, they know that after their lifetimes, the remaining amount will be used to support the more than 34,000 students on campus.
*Based on a 5.2% charitable midterm federal rate. Deductions and calculations will vary depending on your personal circumstances.
- Contact Aquanetta Betts, J.D. at (703) 993-6971 or email@example.com for additional information on charitable gift annuities or to chat more about the personal benefits of creating an annuity with Mason.
- Seek the advice of your financial or legal advisor.
- If you include Mason in your plans, please use our legal name and federal tax ID.
Legal Name: George Mason University Foundation, Inc.
Address: 4400 University Drive MS 1A3, Fairfax Virginia 22030
Federal Tax ID Number: 54-1603842
Information contained herein was accurate at the time of posting. 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 any examples are for illustrative purposes only. References to tax rates include federal taxes only and are subject to change. State law may further impact your individual results. California residents: Annuities are subject to regulation by the State of California. Payments under such agreements, however, are not protected or otherwise guaranteed by any government agency or the California Life and Health Insurance Guarantee Association. Oklahoma residents: 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. South Dakota residents: Charitable gift annuities are not regulated by and are not under the jurisdiction of the South Dakota Division of Insurance.