It is set up with a simple contract between the prospective donor and the CSU Foundation. The donor can support any one of the colleges or university programs. In return, the donor receives a guaranteed fixed income for life from the CSU Foundation as well as initial tax deductions, plus additional tax savings on the annual income. The program is very beneficial to retired faculty, senior management and alumni over the age of 55 in terms of tax benefits and retirement income. But opportunities for younger donors also exist.
Younger alumni can establish deferred charitable gift annuities.
The annual income will be deferred until age 65, but the donor will receive an immediate income tax deduction for the initial gift. There are not only monetary benefits to gift annuities but personal ones as well. The majority of funds from planned giving are used for scholarships and fellowships. Buesing and the Association of Retired Faculty want to encourage people who have spent their lives in the San Fernando Valley and care deeply for the university to become donors. Everybody can participate.