This variation of the Charitable Gift Annuity offers donors the opportunity to further the mission of the Seminary and enhance their estate planning goals as well. It is especially useful in planning for retirement and often referred to as "the charitable IRA." Backed by the full faith and credit of the Seminary, it is a secure investment.

Under this plan, a donor makes a gift to the Seminary now, but defers receiving income from it for more than a year. The income would be in a fixed amount determined at the time of the gift, and would be at a rate higher than if payments began immediately. The longer the deferral, the higher the rate of income.

As a retirement strategy, for example, a donor aged 55 could enter into a Deferred Payment Gift Annuity agreement with a gift of $10,000.00 or more calling for income payments to begin at age 65. Additional agreements could be established with the Seminary in each of the succeeding years, all maturing at age 65. These annuities could vary in amount at the convenience of the donor. At age 65 the income from these several annuities would begin and provide a stream of income for the rest of the donor’s life.

Other benefits to the donor include:

  • additional income tax savings if, in retirement, the donor is in a lower tax bracket
  • fixed income for life beginning on the date established in the agreement, some of which is tax-free during the period of the donor's life expectancy
  • reduced capital gain impact when funded with appreciated securities held longer than one year
  • may provide for a spouse or other beneficiary
  • payments made quarterly or at other intervals convenient to the donor
  • an income tax charitable deduction in the year of the gift, with carryover privileges for up to five additional years
  • deferral of income tax responsibilities until income payments from the annuity begin
  • freedom from management and investment responsibilities
  • estate tax savings
  • an invitation to become a member of the Legacy Society


The rate of return is based on the donor's age at the time of the gift and the length of the deferral. This rate will be lower if a beneficiary is provided for as well.

Seminary policy requires that all donors and beneficiaries be at least fifty years of age. A gift of ten thousand dollars or more is also required. Go to our online calculator  to see how this works.

For more detailed information about Deferred Payment Gift Annuities or any other life income plan offered by the Seminary, please contact the Director of Planned Giving, John S. McAnlis .