Charitable gift annuities can be very beneficial for some taxpayers.
There are several types so at some point you should discuss your specific goals with an experienced tax practitioner or estate planner.
Of course, not all techniques are good for every taxpayer .
From the Forbes article Does A Charitable Gift Annuity Make Tax Sense For You?at http://www.forbes.com/sites/baldwin/2012/06/06/does-a-charitable-gift-annuity-make-tax-sense-for-you/
"Consider yourself a prime candidate for investing with your college if:
-you are in a high tax bracket,
-you'd like to consume a certain chunk of your principal rather than leave it all to ungrateful heirs,
-you were going to make a gift or bequest to this institution anyway,
-your health is terrific and
-you have appreciated assets in a taxable account that you'd like to unload."
As you may know we can substitute most any charity or church in for college in that statement.
You buy the annuity (or fund it with your appreciated assets) from a charity for a chunk of money and get a fixed payout, usually for life.
The reason appreciated assets are useful is that you get a benefit of a current tax deduction for the appreciated portion, and that is part of the investment.
Having relative high income is important for making use of the tax deduction.
The reason that good health is important is so that you have time to collect more payments from the annuity.
The payout actually varies by institution or charity. The article quoted (in 2012) says "Harvard will give you $6,200 a year in return for $100,000 of cash or securities. Some institutions (like Stanford) pay less. Some (notably Pomona College) pay more."
You will have to check with the giving department of the college or charity you are considering for more exact rates. Rates are dependent on market conditions and your age (or your age and a second beneficiary if so chosen).
Please do ask if you need more discussion or clarification.