Bequests and Legacy Gifts | Boston Rescue Mission

Legacy Giving

You are Cordially Invited to Join the Mission's Cornerstone Society

You are the seeds of the future. We dream and envision and we set hope in motion. We are called to partner in trust with those who have gone before us and to offer opportunities that we can give to those who will follow us.

"Give thanks to God for God is Good" - Psalm 107:1

Your bequests can leave a lasting legacy, secure tax advantages for your family, and help us to prevent and end homelessness for years to come. If you would like more information on planned giving gifts please email us at jsamaan@brm.org. We will email you more in-depth templates on the many options available to make a legacy gift.

Consult your financial advisor, estate planner, or attorney for more information on planned giving options that work best for you. Popular options include:

GIFTS NOW

Appreciated Securities (or other assets): often in the form of common stock or mutual funds

This gift can benefit the organization and you can receive tax benefits based on the fair market value of the assets.

Charitable IRA Rollover: giving opportunity for those over 70 1/2, make tax-free distributions from your IRA directly to the organization

The distribution is not included in your adjusted gross income, so there is no payment of additional tax on a qualified distribution.

Real Estate: can be deeded outright to organization or left by bequest

This gift may provide an immediate tax deduction and avoid capital gains.

Life Insurance: make a gift or buy a policy, making the organization the owner and beneficiary

GIFTS THAT PAY INCOME

Charitable Gift Annuity: an irrevocable gift of cash or securities where you receive a predictable fixed income for life

At termination, the organization receives residual value of the annuity. There are potential tax benefits depending on your situation. You can request your customized sample through the Presbyterian Foundation.

Charitable Remainder Trust: an irrevocable gift of assets into a charitable trust that provides you a fixed (Annuity Trust) or variable (Unitrust) income for life or a set term

At termination, the trust assets become a gift to the organization. There are potential tax benefits depending on your situation.

Charitable Lead Trust: income payments from the lead trust are distributed to the church for a set period of years, after which the assets are transferred back to the grantor or whomever the grantor named as beneficiary

This option provides generous annual support for the organization now, removes asset from the estate and passes an asset to heirs with little to no tax. There is no immediate deduction for lead trust.

GIFTS LATER

Bequests: gift through your will or revocable trust that allows you to retain the asset during your life and provide significant support to the organization when you no longer need the asset

Many of us include organizations and agencies outside of family and friends in our estate plans. Benefits abound: first and foremost, the understanding that your work of caring for homeless women and men continues well into the future. Second, your estate will benefit by having a write-off to charity through the bequest.

Retirement Plans: retirement assets can be heaviest assets taxed

In some instances, you can receive a tax deduction and avoid further tax burden on the gift. Donating a portion of your retirement fund can also lower or eliminate estate taxes.

Bank or Investment Account: financial accounts can be simple and inexpensive way to leave a legacy gift for an organization, discuss with your financial advisor to see how you can make the organization a beneficiary

Thank you for considering a legacy gift to the Boston Rescue Mission!

We hope you will consult with your professional advisers on how a planned gift would fit into your overall plans. The Mission, like other agencies, acts as the recipient of legacy gifts and avoids providing specific investing advice. For more in-depth information about these and other legacy giving options, contact jsamaan@brm.org for a pdf to refer to when discussing with your adviser.