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To provide for a descendant’s education while receiving an income tax charitable deduction, some donors choose a commuted payment gift annuity, often called a college annuity or tuition assistance plan. In the case of a college annuity, a donor initially contributes assets for a deferred annuity by naming a child or grandchild as annuitant with life payments to being at age 18. Before the annuity starting date, the annuity is commuted to four or more annual installments. Thus, instead of receiving modest payments for life beginning at age 18, the annuitant receives large installments during the college years.
For more information, please contact:
Lisa Riley, Director of Planned Giving
University of Nevada, Reno / Mail Stop 0007
Reno, NV 89557-0007