Make a Charitable Gift and Receive Income

This is a farily common strategy for people who are selling a business.  By redirecting some of the proceeds of the sale to their favorite charity, they may continue to receive income during their lifetime.  Under such an arrangement, the charity would invest the funds donated to it, would pay an agreed-upon income to the donor (and perhaps to his or her spouse), and eventually would receive whatever remains of the principal.  The donor, of course, can claim the amount of the gift on his or her IRS filing.