The gift annuity agreement provides older donors who give cash, securities, real estate, or personal property with fixed annual payments for a specified period of time, usually for life. With a deferred gift annuity, the annual payments do not start when the gift is made but begin at a later time specified by the donor.

Gift annuities are attractive to donors who want to receive income from assets that have risen sharply in value, such as cash or stocks. In return for gifts of such assets, Duke guarantees the donor a fixed annual income for the rest of their lives and helps the donor avoid capital-gains tax. The donor also gets an income-tax break on a portion of the earnings from an annuity; the exact amount depends on the donor's age.

For more information on gift annuities, please contact the Office of Gift Planning at (919) 681-0464 or visit http://www.giftplanning.duke.edu.