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A gift annuity is a contract under which the South Dakota Mines Center for Alumni Relations and Advancement (CARA), in return for a transfer of cash or securities, agrees to pay a fixed sum of money for a period measured by one or two lives. You receive an attractive rate of return and have the pleasure of making a meaningful charitable gift to the CARA.

There are a wide range of choices with charitable gift annuities, including deferred gift annuities and college annuities, which can accommodate a variety of individual situations. An annuity can be established for you, for you and your spouse, or for any one or two persons other than yourself. The annual income the CARA pays depends upon the beneficiary’s age at the time of the gift. This is a guaranteed rate of return and remains fixed for life.

View current annuity rates.
View some Charitable Gift Annunities scenarios.


  • Beneficiary receives a lifetime income
  • Escape a portion of capital gains tax
  • Receive a charitable deduction
  • No need for legal documents
  • Donor is eligible for income tax deduction
  • Donor makes a charitable gift to South Dakota Mines CARA

Deferred Gift Annuities

Charitable deferred gift annuities are also available and can enhance your retirement planning. You make a charitable gift and receive the charitable deduction now, and then your income payments are deferred to a date you choose. The charitable deduction can be 80% or more of the gift, making this an ideal shelter for a high income person who has already put the maximum amounts into their IRA, KEOGH, 401K or other retirement plans.

College Annuities

Commuted payment gift annuities, which are sometimes called “College Annuities” or “Tuition Assistance Plans”, are deferred charitable gift annuities with a twist. They enable a donor to receive an income tax charitable deduction while providing for a descendant’s education. In the case of the college annuity, a donor initially contributes assets for a deferred annuity naming a child or grandchild as annuitant with life payments to begin at age 18. Prior to the annuity starting date, the annuity is commuted to four or more annual installments. Thus, instead of receiving very modest payments for life beginning at age 18, the annuitant receives large installments during the college years.

For more information, please contact Leah Mahoney, director of planned giving, South Dakota Mines CARA, 800.211.7591.


Mines Advancement Fund

The Mines Advancement Fund supports the greatest needs of our students and faculty, including scholarships, department resources, facilities updates, industry partnerships, and more. With every dollar gifted to the Mines Advancement Fund, the Center for Alumni Relations & Advancement raises an average of $9 more to support departments, scholarships, and programs. 
Consider designating your gift to the Mines Advancement Fund to maximize your influence at South Dakota Mines.