Imagine the comfort of knowing you or a loved one will receive a stable stream of income for life. Think how satisfying it would be to know your generosity will one day make a major impact on the health system you love. With a charitable gift annuity, you can do both, plus take an immediate tax deduction for a significant portion of your gift. Currently, gift annuity rates are more favorable than those for CDs and many fixed-income investments. You can count on always receiving the same, stable level of payments from a charitable gift annuity, regardless of market fluctuations.
RETIREMENT INCOME AND support for lifesaving and life-enhancing care
Make a Gift and Earn Secure Income for Life
Financial security and support for Baystate Health Foundation
How It Works
A charitable gift annuity is a simple arrangement between you and Baystate Health Foundation(BHF): in exchange for your contribution of cash or appreciated securities, Baystate Health Foundation agrees to pay one or two individuals a fixed amount of money for life. The amount of the payments never fluctuates and is not affected by changes in the economy or financial markets. You will receive an income tax charitable deduction for a portion of your gift and some of your annuity payments may be partially tax-free for a time.
Immediate Payment Charitable Gift Annuity
You can establish a charitable gift annuity that may begin paying you soon after it’s established. Payments can be made to your bank account by direct deposit and can be distributed monthly, quarterly, or semi-annually…it’s up to you!
A charitable gift annuity can benefit you in many ways:
- Secure a fixed amount payment for your lifetime and/or that of your loved one
- Receive an immediate charitable tax deduction
- Choose when your payments begin – at age 65 or later – the older you are when your payments start, the higher the amount of your annuity
- Enjoy reduced or eliminated capital gains tax liability for gifts of appreciated securities
- Establish your gift with as little as $10,000 in cash or securities
- Support the lifesaving and life-enhancing mission of Baystate Health
Why a charitable gift annuity might be appealing:
Donors choose gift annuities because they want to increase their cash flow; seek the security of fixed payments that will not vary; desire tax savings; and would like to support the mission of Baystate Health. A charitable gift annuity might be appealing in the following circumstances:
- The interest rate on a CD or other fixed income investment is low and you would like to increase your future cash flow.
- You own appreciated stock or mutual fund shares, have considered selling some of the shares and reinvesting the proceeds to generate more income, but don't want to pay tax on the capital gain.
- You would like fixed payments which are unaffected by interest rates and stock fluctuations and which you cannot outlive.
- You want to assure continuation of payments to a loved one without the delay of probate proceedings and in a tax-efficient manner.
Sample Annuity Rates for Gift Amount of $10,000
| Age | Payment Rate | Annuity | Deduction |
|---|---|---|---|
|
65 |
5.7% |
$570 |
$3,521 |
|
66 |
5.8% |
$580 |
$3,570 |
|
67 |
5.9% |
$590 |
$3,626 |
|
68 |
6.1% |
$610 |
$3,587 |
How do I get started?
- Contact Kylie Johnson at 413-794-7789 or Kylie.Johnson@BaystateHealth.org to receive a financial illustration showing the amount of payments, how they would be taxed, and the charitable deduction generated by the gift – and to explore how your gift can make a difference for Baystate Health.
- Discuss the financial illustration with your tax and financial advisors. They can help you make an informed decision, taking into consideration all relevant factors.
Your priorities accomplished!
- You will have secured a fixed stream of payments for life.
- You will have protected some of your income from market fluctuation.
- You will have made a meaningful gift to support lifesaving care through Baystate Health.