The charitable gift annuity is a gift with a retained income. It is an appropriate answer to those donors who wish to make a meaningful contribution to the College while creating, maintaining or enhancing an income stream for their own economic security
Simply, it is a legal agreement between an individual(s) and the Illinois College of Optometry in which the donor gives money or securities, and in return, the College agrees to pay the donor a fixed income for life. The amount of income received is determined by the value of the gift and the annuity rate. The annuity rate is determined by the donor's age at the time the gift is made.