 |
Deferred Gift Annuity
Stephen Letcher, retired professor of physics, has never really retired. He remains active in the department, advising graduate students and staying current on developments in the field. In addition to his ongoing personal involvement, he has been philanthropically supportive, to an exemplary degree, of various funds supporting physics education and other programs, including the Kingston Chamber Music Festival.
Coincidental with all his giving, Professor Letcher has also kept in mind his own financial security. To this end, he recently established a charitable gift annuity with URI to ensure a steady income stream for his own and his wife Tina’s lifetimes that will eventually fund yet another endowment, the Stephen V. Letcher Scholarship, for undergraduate or graduate students in physics. In this case, Professor Letcher determined that the income stream would be needed not immediately but at a certain time in the future. Hence this particular gift plan is called a deferred gift annuity. By deferring the start of the income stream for several years, the payout rate is considerably higher, yet the income tax deduction is available in the year the gift is made.
Professor Letcher notes, “the gift annuity is a way to provide an endowment for the University while giving us a reliable lifetime income and a tax deduction. It is a good combination.”
For information on how you can fulfill both your financial and your philanthropic goals, we invite you to contact us in the Office of Planned Giving.
For more information, please contact Wade Wilks or Alan Axelrod, URI Office of Planned Giving, 73 Upper College Road, Kingston, RI 02881-2011. Email: wwIlks@Advance.uri.edu or aaxelrod@Advance.uri.edu. Phone: 401-874-2296 or 401-874-7057.
