Keith ’66 and Marie Woodman established Gettysburg’s first flexible deferred gift annuity.
“My primary reason for making a Charitable Gift Annuity (CGA) gift to Gettysburg College was gratitude. During my junior year, my father’s business went under and it looked like that could be the end of college for me. I met with the financial aid officer and he put together some scholarships, fellowships, and student loans so that I could stay at Gettysburg and earn my degree. At the time, I never gave much thought as to where that money came from. Now, I have a much better idea of how endowments and funding work and wanted to be contributor. I often think about how different my life would have been had I not been able to receive the aid that I did.”
Keith was also motivated by the real financial advantages of a CGA, including a tax deduction in the year of the gift and fixed income that is partially tax-free. Flexible annuities provide an additional benefit, allowing donors to decide later when their income payments will start. The longer they wait, the higher their fixed payments will be.