Giving Back

Income for Life: A Lasting Impression
Ellen Veed chooses a deferred gift annuity for herself and for others
The promise of income for life and a commitment to transform lives—those are the reasons Ellen Veed decided to invest in a deferred gift annuity, the University of Northern Colorado Foundation, and ultimately, UNC’s students. Veed received her doctor of arts in mathematics from UNC. Having taught at the university level for 38 years, Veed understands the importance of higher education and the financial needs facing so many students today.

“When I wanted to make a gift, I wanted to do it in an endowed way,” said Veed. “A deferred gift just made the most sense to me… I wanted to make a lasting impression.”

The deferred payment charitable gift annuity is both a gift to the UNC Foundation as well as an annuity. Part of each future payment is a tax-free return of principal and part is ordinary income. The combination of partially tax-free income and the initial charitable deduction made this agreement attractive to Veed.

By deferring her payments for 10 years, Veed also earns a higher rate of return. She says it’s nice to know she would have money if she needs it, but she says she didn’t do it for the monthly income. “If I get 10 years down the road and I don’t need it, I’ll just donate it again.”