Establishing a Gift Annuity: An Easy Decision

According to Jack ’51 and Jean (Stewart) ’53 Brown, all Willamette alumni should consider setting up a charitable gift annuity at Willamette. In Jean’s words, “It was a no brainer for us. After all of the benefits were explained to us, we wished we had done it long ago.”

Their $6,603 gift annuity was funded with stock Jean had held for a long time. By contributing the stock to an annuity, the Browns received three big benefits. They avoided capital gains tax that they would have owed if they had sold the stock outright. They received a 2003 income tax deduction of $1,809. And – perhaps the biggest benefit – Willamette is providing the Browns with guaranteed lifetime income (at 6.1 percent) based on the full value of the stock.

These savvy investors were also attracted by the benefits to Willamette. Their gift will grow during their lifetimes into a significant addition to the University’s endowment, and the Browns were able to earmark their annuity to a specific area – the Class of 1951 and Class of 1953 Scholarship Funds. Jean also received immediate credit for the gift, which was applied toward the Class of 1953 50th reunion fund.

By establishing an annuity, the Browns became part of Willamette’s R.A. Booth Society, a donor giving society that recognizes thoughtful alumni and friends who have designated the University as a beneficiary of a will, trust, life insurance policy, retirement plan, life-income gift or other deferred gift arrangement. Society members are recognized by the president as key contributors to the University’s continued excellence.

Charitable gift annuities – which can be purchased with cash, stocks or bonds – are just one of the many ways to plan for your future while contributing to Willamette’s future. For more information, visit www.willamette.edu/plannedgiving or call Steve Brier, director of planned giving, toll free at 866-204-8102.