A Gift That Pays Back

Gloria '64, and David Mog (pictured in New Zealand) love to travel. Their gift to Detroit Mercy gives them flexibility to continue to hit the road.

A growing number of supporters are giving back to University of Detroit Mercy by including charitable gift annuities in their estate plans because of the benefits of the gift.

Gloria Mog '64, is one of them. Gloria, a retired social worker, and her husband, David, have created several for charitable causes, including Detroit Mercy.

With a charitable gift annuity, you give Detroit Mercy a lump sum of money, which we invest. You then receive regular payments during your lifetime. What's left of the gift after your lifetime supports our students and programs.

There is great flexibility within the gift annuity. You can defer payments—as the Mogs have done—and payments can go to a third party. Some donors give the payments back to Detroit Mercy, and most of these options qualify you for tax breaks.

"We wanted to support the University because the education I received has meant so much to my life," Gloria says. "But we never know what's going to happen in the future—I think that's everybody's worry. This helps us and the University."

The Mogs often urge their friends to look into gift annuities because they've been so pleased with how they have worked for them. They say it's the perfect way for people who are able to give, but who are "not very rich" to support organizations that are meaningful to them.

"Knowing the institution is benefiting from the gift connects us to the University," Gloria says.

Charitable gift annuities are not available in all states and have other restrictions. To learn how a gift annuity can work for you and Detroit Mercy, contact Teri Carroll at (313) 993-1262 or carroltl@udmercy.edu.