Deferred Charitable Gift Annuity

Penn’s Deferred Charitable Gift Annuity is a contract between the University and a donor, providing for the payment of a fixed income to one or two annuitants. These payments are determined to begin at a future date chosen by the donor. A longer delay between the creation of the deferred gift annuity and the start of payments result in a higher annuity rate and a larger income tax charitable deduction. Some donors view this as an attractive supplement to retirement planning. Additional flexibility may be created by the donor specifying a range of start dates, one of which may be “triggered” by the donor in the future. On termination of the annuity, the balance supports Penn.