Facing the - Culver Academies

a Charitable Gift annuity
a smart way to support Culver
and to support yourself
“i wanted to support culver,” Bob Altman ’60 said. “The charitable
gift annuity was the best way to do it.”
As president of international Assessment Associated, Bob examines
the educational needs of children in underdeveloped countries
around the globe. A cum laude graduate of culver, this former
high school teacher, college administrator, and vice president at
Educational Testing Service examined the smartest way to give for
his 50th class reunion in 2010.
Bob and his wife, Jane, decided on the
charitable gift annuity.
The charitable gift annuity provides
the Princeton, N.J., couple with a
fixed, guaranteed, generous stream of
income now and after he retires. Bob,
who graduated from harvard and
earned his doctorate from columbia
University, wanted to lock in to the
highest tax deduction possible.
The charitable gift annuity also made
sense tax-wise. By funding it with
Procter and Gamble stock, the Altmans
avoided paying the hefty capital
gains tax they would have incurred
had they simply sold stock. They also
received an immediate charitable Bob and Jane Altman
income tax deduction.
Bob was pleased that he received credit at the annuity’s full face
value for his 50th Reunion gift – which helped to boost the total
for his class. he encourages others to consider a gift to culver.
“i never thought i’d be in a position to give,” Bob said. “But when
the opportunity came up, there was never a doubt that i would
give to education. culver is at the top of my list.”
Benefit from your generosity
charitable giving doesn’t have to be a one-way proposition. it is
possible to make a charitable gift and actually have an income
stream flow back to you – all while generating valuable income tax
benefits.
charitable gift annuities are one of the oldest and most popular
of charitable strategies. The rates are
generally higher when compared to
fixed investments, such as certificates
of deposit.
Part of a charitable Gift Annuity is
treated as a tax-deductible gift while
part comes back to you as income for
life, said dale Spenner, director of
Planned Giving for culver.
A charitable gift annuity is, essentially,
a contract between a donor
and a charity, such as The culver
Educational foundation. in exchange
for a gift of a specified amount, culver
agrees to make specified annual payments
for life to one or two beneficiaries.
A gift annuity can pay either
the donor or the donor and his or her
spouse jointly, and then the survivor.
culver’s obligation to make gift annuity payments is backed by
all the assets of culver, which consist of an endowment of $280
million, Spenner said.
Spenner added that a charitable gift annuity is a safe giving plan
that provides quarterly income for life and it also helps culver. it is
a wonderful gift, not an investment.
If you are interested in more information about a charitable gift annuity,
contact Director of Planned Giving Dale Spenner at (574) 842-8181 or dale.spenner@culver.org.
Annual Report 2011-2012
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