Life Income Gifts
Convert assets to income for you and Michigan Tech
Imagine you are an apple grower who wants to make a charitable gift. After considering many possibilities, you come up with the perfect plan: you will donate your apple orchard, but continue to receive income from the orchard.
That is a life income gift—an effective way to contribute assets to the Michigan Tech Fund while still keeping an income for yourself and others. The Michigan Tech Fund offers a full range of life income gifts. Selecting the best option depends on your age, assets, and income objectives. There are four basic types of life income gifts:
- Charitable Gift Annuity
- Deferred Charitable Gift Annuity
- Charitable Remainder Trust
- Pooled Income Fund
Life income gifts can be structured in different ways to meet your financial and charitable goals. Selecting the form that is best for you requires careful consideration with your professional advisors. Our Office of Gift Planning staff can provide you and your professional advisors with additional information, including personalized illustrations showing how the various life income gift options can work for you.
Contact the Office of Gift Planning for more information.
Benefits of life income gifts
- Immediate income tax deduction
- Potential avoidance of capital gains tax on gifts of appreciated assets
- Potential increase of current income by converting low-yielding assets
- Way to diversify large holdings of assets
- Removal of assets from your taxable estate
- Professional management of trust assets
- Future funding for the Michigan Tech program of your choice
