For donors who want to make a special gift to the college, but also need supplemental income, Lawrence offers a charitable gift annuity program. These estate planning tools, also known as CGAs, provide a guaranteed stream of future income in exchange for an outright gift to the college. Rates for Lawrence’s CGAs are determined by the American Council on Gift Annuities. Compare the available rates with what might be possible in a money-market fund or certificate of deposit.
Annuity Disclosure
Lawrence University
2013-2014
With a charitable gift annuity, you simultaneously make a gift to Lawrence University and secure guaranteed payments for life for yourself and/or another person. Because you are making a charitable gift, and a portion of your gift is reserved for Lawrence’s eventual use, you are entitled to certain income, gift, and estate tax deductions. Because the interests of donors and the university must be protected, the annuity rates offered by Lawrence are generally lower than those available through commercial annuities offered by insurance companies and other financial institutions.
Per the actual gift annuity agreement, guaranteed payments of the amount stated will be made to named annuitant(s) for life. These payments are a general obligation of our organization, and they are backed by all of our assets. As of June 30, 2013, Lawrence’s net assets totaled $212.4 million. These funds are invested in a mix of financial instruments such as stocks, bonds, federal obligations, and other investments as determined by the Board of Trustees. Furthermore, a separately invested annuity reserve fund is maintained in accordance with the laws of the State of Wisconsin.
The Lawrence University Board of Trustees is a self-perpetuating body consisting of up to 42 elected trustees and the appointed President of the University. Approximately one-third of the trustees will be elected to a three-year term annually by the Board, and at least sixty percent (60%) of the trustees shall be alumni of the University. Typically, elected trustees take office on the first day of January following their election.
Common investment funds managed by our organization are exempt from registration requirements of the federal securities laws, pursuant to the exemption for collective investment funds and similar funds maintained by charitable organizations under the Philanthropy Protection Act of 1995 (P.L. 104-62). Information in this document is provided to you in accordance with the requirements of that Act.
We would be pleased to provide any additional information at your request.
Notice to Donors: This qualified charitable gift annuity is insurance under the laws of the State of Wisconsin and Lawrence University, as its issuer, is subject to regulation by Wisconsin’s Office of the Commissioner of Insurance with respect to its gift annuity program. However, this qualified charitable gift annuity is not protected by the Wisconsin Insurance Security Fund or any other insurance guaranty association. All of the unrestricted assets of Lawrence University stand behind its promise to pay.
