How does a gift annuity work?
In return for a donor’s gift of $10,000 (minimum) or more, a gift annuity agreement is made with the individual and a financial institution, insurance company or a community foundation in which the university agrees to make fixed payments to the donor for life. Upon the death of the donor, the university assumes full ownership of the gift. The remainder is added to the university endowment fund if that is the donor’s choice.
