Give for Life

Charitable gift annuity

A charitable gift annuity allows you to support Albion College while maintaining a sense of financial security. When you make a donation, that gift is set aside in a reserve account and invested; in return, you will receive fixed payments for life. Once you have reached the end of your life (as well as your spouse’s, if applicable) the remainder of your gift is given to the College. Additionally, you may be eligible for various tax benefits for making this gift (such as a federal income tax charitable deduction when you itemize). Please note that your payment amount is dependent on your age.

Charitable lead trusts

A charitable lead trust operates for a set term, typically for your lifetime. The trust will make payments to the College for the duration of the term; once the trust has reached the end of its term, the remainder of the trust is distributed to family members or any other non-charitable beneficiaries.

Payments from the trust are made to Albion College in two primary ways:

1. Charitable lead annuity — Payments are made to Albion College each year. The amount paid is fixed, and this option is better suited for when interest rates are low.
2. Charitable lead unitrust — Payments are made to Albion College each year. The amount paid is variable and based on the value of the assets in the trust at the time the payment is made; when the value of the trust’s assets increase, for example, so do the payments to the College.

Charitable remainder trust

A charitable remainder trust allows you and other named individuals to receive income every year for life or for a term of up to 20 years. The payments you receive are based on the assets you give to the trust, and your contributions may also make you eligible for a partial tax deduction. Albion College will be given the remaining balance of the trust at the end of the trust’s term.

There are two primary kinds of charitable remainder trusts:

1. Charitable remainder annuity trusts (CRATs) pay you a fixed annuity amount each year, regardless of any fluctuations in trust investments.
2. Charitable remainder unitrusts (CRUTs) pay you a variable distribution based on a fixed percentage of the fair market value of trust assets. Your payment is tied to the value of the trust; as its value increases or decreases annually, the amount you receive is readjusted to reflect this change.

Donor advised funds

A donor-advised fund, or DAF, behaves like a charitable investment account. You can contribute cash, appreciated assets or investments into an account and then use that account to invest in Albion College and other qualified charities. With grant recommendations from the DAF, you can make an impact at Albion College at a pace that works best for you.

Your philanthropic legacy at Albion College can continue long after the end of your lifetime with a donor advised fund. You can name Albion College as the sole beneficiary, or you can name the College as a beneficiary alongside your loved ones so that they may continue recommending grants to charitable organizations. Please contact your fund administrator for a beneficiary form and create a lasting family legacy of giving.