Gift Annuities work for the Buckmans and Northland College

Carol and Don Buckman were both Northland College students when they met in the Print Shop. “Carol had to wipe the ink off her hands before we could greet,” remembered Don. They married in 1953.

Soon after graduation, they became avid supporters of the College and its Sigurd Olson Environmental Institute. “Northland has been very important to our lives,” said Carol. “The inspiration and support of the faculty was outstanding. Our professors were not mere educators, they were wonderful counselors. We place a high value on our Northland educations.” A research lab in the Larson-Juhl Center for Science and the Environment bears their names.

“Gift annuities provided a wonderful financial planning tool for us,” reported Don. “After retiring, we were looking for diversification and ways to increase Carol’s income if I predeceased her. We received an immediate tax deduction and tax advantages on a portion of the income through 2017.” The Buckmans have established both an immediate gift annuity and a deferred gift annuity.

A gift annuity to the college provides donors with fixed income payments over the course of their lives.  The gift of cash or securities to the College is exchanged for a contractual life income paid monthly or quarterly.  The rate of payment depends on the age of the donor when the annuity is established.  See the chart below to determine the percentage of the assets that are paid to the donor annually for life.

Are there other types of planned gifts like this?

Please look at our Planned Giving Table of options and review it with your tax consultant.

How do I create a charitable annuity or other planned gift?

Please call the Office of Institutional Advancement at (715) 682-1495 and speak to our Planned Giving Specialist, Gail Reed, for annuity and other planned giving information.  Or, email Gail at glreed@northland.edu.

Make a gift online today.

• Types of Planned Giving.pdf