1. Barry University
  2. Giving
  3. Planned Giving
  4. Charitable Gift Annuity

Payments for Life

Learn more about the many benefits of a charitable gift annuity in our FREE guide Strengthen Your Future With a Charitable Gift Annuity.

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Turn Your Generosity Into Lifetime Income

Charitable Gift Annuities

When you are looking for ways to help Barry University with our mission, you shouldn't feel like you are choosing between your philanthropic goals and financial security. One gift that allows you to support Barry University's work while receiving fixed payments for life is a charitable gift annuity.

Not only does this gift provide you with regular payments and allow us to further our work, but when you create a charitable gift annuity with Barry University you can receive a variety of tax benefits, including a federal income tax charitable deduction when you itemize.

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Delay Your Payments

If you are younger than 60 or don't need your payments immediately, you can set up a deferred gift annuity. This allows you to delay receiving payments until a later date—such as when you reach retirement. To learn more, view and download the FREE guide Plan for Retirement With a Deferred Gift Annuity.

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Check Out This Potential Scenario

Couple walking and smilingSay that Justin, 66, and Mary, 65, want to make a contribution to Barry University that will support our work for generations to come, but they also want to ensure that they have dependable income during their retirement years. They establish a $20,000 charitable gift annuity with Barry University. Based on their ages, they will receive a payment rate of 3.9%, which means that they will receive $780 each year for the remainder of their lives. They're also eligible for a federal income tax charitable deduction of $4,878* when they itemize. Finally, they know that after their lifetimes, the remaining amount will be used to support our mission.

*Based on a 1.2% charitable midterm federal rate. Deductions and calculations will vary depending on your personal circumstances.

See How It Works

Learn How to Fund It

You can use the following assets to fund a charitable gift annuity:

Calculate Your Benefits

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Personal Estate Planning Kit

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Next Steps

  1. Contact Bernadine Douglas, CFRE at 305-981-8182 or bdouglas@barry.edu for additional information on charitable gift annuities or to chat more about the personal benefits of creating an annuity with Barry University.
  2. Seek the advice of your financial or legal advisor.
  3. If you include Barry University in your plans, please use our legal name and federal tax ID.

Legal Name: Barry University, Inc.
Address: 11300 NE 2nd Avenue, Miami, Florida 33161
Federal Tax ID Number: 59-0624364

A charitable bequest is one or two sentences in your will or living trust that leave to Barry University a specific item, an amount of money, a gift contingent upon certain events or a percentage of your estate.

an individual or organization designated to receive benefits or funds under a will or other contract, such as an insurance policy, trust or retirement plan

"I give to Barry University, a nonprofit corporation currently located at 11300 NE 2nd Avenue, Miami, Florida 33161, or its successor thereto, ______________ [written amount or percentage of the estate or description of property] for its unrestricted use and purpose."

able to be changed or cancelled

A revocable living trust is set up during your lifetime and can be revoked at any time before death. They allow assets held in the trust to pass directly to beneficiaries without probate court proceedings and can also reduce federal estate taxes.

cannot be changed or cancelled

tax on gifts generally paid by the person making the gift rather than the recipient

the original value of an asset, such as stock, before its appreciation or depreciation

the growth in value of an asset like stock or real estate since the original purchase

the price a willing buyer and willing seller can agree on

The person receiving the gift annuity payments.

the part of an estate left after debts, taxes and specific bequests have been paid

a written and properly witnessed legal change to a will

the person named in a will to manage the estate, collect the property, pay any debt, and distribute property according to the will

A donor advised fund is an account that you set up but which is managed by a nonprofit organization. You contribute to the account, which grows tax-free. You can recommend how much (and how often) you want to distribute money from that fund to Barry University or other charities. You cannot direct the gifts.

An endowed gift can create a new endowment or add to an existing endowment. The principal of the endowment is invested and a portion of the principal’s earnings are used each year to support our mission.

Tax on the growth in value of an asset—such as real estate or stock—since its original purchase.

Securities, real estate or any other property having a fair market value greater than its original purchase price.

Real estate can be a personal residence, vacation home, timeshare property, farm, commercial property or undeveloped land.

A charitable remainder trust provides you or other named individuals income each year for life or a period not exceeding 20 years from assets you give to the trust you create.

You give assets to a trust that pays our organization set payments for a number of years, which you choose. The longer the length of time, the better the potential tax savings to you. When the term is up, the remaining trust assets go to you, your family or other beneficiaries you select. This is an excellent way to transfer property to family members at a minimal cost.

You fund this type of trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. You can also make additional gifts; each one also qualifies for a tax deduction. The trust pays you, each year, a variable amount based on a fixed percentage of the fair market value of the trust assets. When the trust terminates, the remaining principal goes to Barry University as a lump sum.

You fund this trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. Each year the trust pays you or another named individual the same dollar amount you choose at the start. When the trust terminates, the remaining principal goes to Barry University as a lump sum.

A beneficiary designation clearly identifies how specific assets will be distributed after your death.

A charitable gift annuity involves a simple contract between you and Barry University where you agree to make a gift to Barry University and we, in return, agree to pay you (and someone else, if you choose) a fixed amount each year for the rest of your life.
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