"Since 1933 I've loved the University of Illinois. My charitable gift annuity allows me to express my affection for the institution, help students and provide myself income in my retirement." - Dr. Robert Shales '44 DDS Read Dr. Shales' story or learn more about charitable gift annuities (CGA) below. If you would like to contact someone immediately, email Lynn Bennett, UIC's gift planning advisor, or call her at 312-413-3394.

CHARITABLE GIFT ANNUITIES

A charitable gift annuity is an agreement between you and the University of Illinois Foundation under which you give the Foundation cash or other assets and in exchange the Foundation guarantees to pay you, or you and a beneficiary, or two other beneficiaries, a guaranteed fixed income for life. The payments are called annuity payments and the recipients are called annuitants. Upon the death of a single annuitant, or upon the death of a surviving joint annuitant, the Foundation gives the residual value of your gift to UIC, to be used as you direct in the CGA agreement.

BENEFITS

Here are some of the benefits of CGAs:

• If you want to achieve a significant charitable goal at UIC but also need to provide lifetime income for yourself and your spouse, a CGA lets you do both.
• The older you and your spouse are, the more annuity income you receive for a given gift amount.
• Annuity payments are guaranteed for life.
• When you fund a CGA, you report an immediate income tax deduction for your gift.
• A portion of each annuity payment you receive is tax-exempt.
• You can use a CGA to supplement a parent's or a sibling's income while you make a gift to UIC at the same time. You can use this arrangement during your lifetime or you can set it up it in your estate plan as a way to take care of a parent or a sibling after your death.
• You can use a deferred CGA to provide retirement income for yourself and your spouse at a later date. You report your income tax deduction today.

RATES

HOW TO ARRANGE A CGA

You will want to plan your gift with a UIC development officer or gift planning advisor. We can consult with you about the purpose of your gift; prepare an illustration for you of the annuity income and income tax deduction you will receive; and send you a CGA agreement to sign.

NEXT STEPS

UIC's Gift Planning Advisor, Lynn Bennett, is available to answer questions and offer guidance. Please call her at 312-413-3394 or write to her at lbennett@uif.uillinois.edu to:

• Ask questions or discuss your specific interests.
• Request additional written information about charitable gift annuities.
• Tell you which annuity rate would be applicable for a specific age or ages.
• Schedule a confidential consultation with you to discuss gift planning strategies and which ones may be appropriate for you.