Life Income Gifts
There are several different types of life income arrangements available for you to support BIDMC. Life income gifts, such as charitable gift annuities, deferred gift annuities, and charitable remainder trusts, provide an income stream for life or a term of years. Depending on the gift option you choose, your income can be fixed or variable over your lifetime. And, if you make your gift with appreciated property, you can reduce or eliminate your capital gains taxes.
In addition, you also receive a charitable income tax deduction that you can use in the year that you make your gift. And when the plan ends, the life income gift will benefit the department or program at BIDMC that you specifically designated.
Summary of benefits:
- Save on capital gains, gift, and/or estate taxes.
- Transfer low or non-income producing assets to BIDMC in exchange for an attractive lifetime income.
- Receive an immediate federal income tax deduction.
- Receive membership in the Lunn Society, BIDMC's recognition society for individuals who have made a planned gift.
Note: The information on this website is not intended to serve as legal or financial advice. When planning a specific charitable gift, the services of a legal or financial advisor should be obtained.