A Lasting Gift to a Loved One

Did you know that you can give a gift to a loved one that gives back? One of our Stetson Society members knows that. She prefers to remain anonymous, so we'll call her Mrs. A. Here is her story.

Several years ago, Mrs. A established her first charitable gift annuity (CGA) with Stetson. She likes the consistent payments she receives and also knows that what is left in her CGA at her passing will benefit the School of Music — a cause that is very important to her. Mrs. A was so happy with her first CGA that she has since established a few more as her certificates of deposit have matured. She is on a limited income and appreciates the increased return offered by the CGAs. Mrs. A also enjoys the satisfaction of knowing that she will ultimately be making additional gifts to Stetson.

Mrs. A's generosity does not stop at Stetson. She also likes to help her niece from time-to-time. The problem is that when she sends checks, they either go un-cashed or are returned to her by her niece, who is reluctant to accept Mrs. A's gifts.

Not to be dissuaded, Mrs. A approached the staff of Stetson's Office of Gift Planning with an idea. She wanted to establish another CGA, but this time have the payments sent directly to her niece. It turns out that her niece was old enough and the value of the gift did not exceed the annual exclusion allowed by the IRS. Mrs. A received a charitable income tax deduction for this year and there were no adverse tax consequences for her. She took great satisfaction in establishing a new CGA and has the joy of knowing that her niece will automatically receive payments for the rest of her life — payments that she can't return!

Is there someone for whom you would like to make a "gift that gives back" and provide consistent payments for the rest of their lives? Individuals who help parents or older relatives or friends financially may want to consider this type of arrangement. It can also provide the donor with a charitable income tax deduction and the satisfaction of knowing they will ultimately support Stetson students.

Please contact the Office of Gift Planning for more information about establishing a Charitable Gift Annuity to provide consistent and secure payments for a loved one for the rest of their life.