A flexible option to build future income for you or a loved one
How it works
- You make a gift of cash or securities to Berkeley.
- We pay you — or one or two individuals you name — fixed annuity payments for life, beginning on a specified date in the future.
- When the contract ends, Berkeley will use the remainder of the annuity to support the programs you designate.
- Each income beneficiary needs to be at least 65 years old when the annuity is created, with payments starting no earlier than age 70.
How you benefit
- Receive an income tax charitable deduction at the time of the gift and receive secure lifetime payments backed by a reserve and the general assets of Berkeley.
- Because payments are deferred until a future date, the annuity rate is higher than it would be with an immediate payment annuity and the income tax charitable deduction is larger.
- The future start date for payments can be designed to coincide with important life events, e.g., your retirement or a grandchild’s college years.
- Receive a capital gains tax benefit for gifts of appreciated assets such as stocks/bonds held more than one year.
TAX LAW (SECURE ACT 2.0) EFFECTIVE JANUARY 1, 2023
- The Secure Act 2.0 effective January 1, 2023 prohibits the one-time IRA qualified charitable distribution (QCD) for deferred payment charitable gift annuities.
"I had no idea until senior year I had to actually put a needle in someone’s arm, I passed out."
Joan Lam
Lam got something else from Cal — an opportunity to explore her love of music. But she got over the above-mentioned hurdle, completed her B.S. at UC Berkeley’s School of Public Health, and went on to a successful career in clinical laboratory science. “I was walking by Hertz Hall,” she remembers, “and I heard this heavenly sound! It was the University Chorus singing Brahms’ Requiem.” She credits joining the chorus with changing her life — it led to a …
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