The Life Income Trust represents an attractive vehicle for giving to the University for many investors. The University works very hard with donors to ensure that the philanthropic and economic objectives are met. Under a Life Income Trust, money or other property is contributed to the University on the condition that the Trust will pay a dollar amount periodically to the donor or other designated beneficiaries for a specified term or life of the beneficiaries. There are three goals of investment for each of the life income funds: (1) to meet the income goals of the donor/beneficiaries; (2) to maximize the remainder to the University; and (3) to be tax efficient in the process. Each trust is invested in one of six investment strategies as is most appropriate to the specific objectives of that fund.
Kaspick & Company was hired by the University in 1999 to oversee the administration and investment of the Life Income Trusts. The Investment Office annually submits to the Investment Committee the life income fund investment policies and portfolios for review. At September 30, 2007, the University of Chicago's life income assets totaled $100.8 Million.