NIU Foundation launches new annuity program Gifts to charity rarely have tangible benefits. Other than a tax break or a warm feeling, there is no financial reward or payback.   NIU is changing that.   John Bass, NIU's new director of gift and estate planning, has created a Charitable Gift Annuity (CGA) program that allows people to give NIU a sum of money or property and, in return, receive an annual earning on their contribution.   "This is simply a component of a strategic plan for developing both major gift and planned giving programs," Bass said. "We're moving into a new generation of fundraising."   The program works like this: Individuals age 60 or older give a minimum gift of $1,000 to the university. Publicly traded securities (stocks and bonds) and real property also can be contributed. A return rate is then established based on the value of the gift and the individual's age at the time the gift is made. This rate guarantees the individual a fixed annual earning for life.   For example, 70-year-old George gives NIU a $10,000 gift annuity. His age warrants a lifetime 7.5 percent annual earning, or $750. If 85-year-old Betty gives the same amount, she receives a 10.5 percent annual earning of $1,050 each year.   NIU's program is designed to provide gift support for NIU student scholarships, faculty research, program needs, technology updates and other important initiatives.   A former banking executive for 20 years, Bass joined the staff of Northern's Development Office in October. He describes himself as a professional business fund-raiser who "works very closely with donor clients in an atmosphere of philanthropy, smart tax planning and, most of all, fun."   The NIU Foundation Board of Directors approved the CGA program on Nov. 22. Solicitation letters have been mailed so far to about 11,000 alumni and retired faculty/staff who were born before 1939 or who graduated from college before 1963. Additional mailings will be made in the future.   More news....