North Park University - Chicago North Park University - Chicago

Charitable Gift Annuity—Immediate Payment

Immediate-Payment Charitable Gift Annuity Diagram

How It Works

  1. Transfer cash or other property to North Park
  2. North Park agrees to make payments for the life of one and up to two annuitants (payments are backed by our entire assets)
  3. The balance of the transfer inures to North Park

 Benefits

  • Payments for life that are favorably taxed
    1. When gift is funded with cash, part of payment will be tax-free
    2. When gift is funded with appreciated property, part will be taxed as capital gain, part will be tax-free, and part will be taxed as ordinary income
  • Federal income-tax deduction for a portion of your gift
  • Gift will provide generous support for North Park

* The information contained herein is offered for general informational and educational purposes. The figures cited are accurate at the time of writing. State law may affect the results illustrated. This is not legal advice. Any prospective donor should seek the advice of a qualified estate and/or tax professional to determine the consequences of their gift. Annuities are subject to regulation by the State of California. Payments under such agreements, however, are not protected or otherwise guaranteed by any government agency or the California Life and Health Insurance Guarantee Association.

More Information

CONTACT US

Michael D. Nevergall
Vice President for Advancement
plannedgiving@northpark.edu
(773) 244-5790

 

Office of Advancement
North Park University
3225 W. Foster Avenue, Box 6
Chicago, IL 60625

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