Planned gifts range in type from bequests, retirement plans, charitable gift annuities and charitable remainder trusts. The amount of these gifts spans all levels, and we are truly grateful to those who choose to support the BA by making a planned gift to sustain our future.
The Development Office assists individuals and families who wish to consider a planned gift. In every case, the BA will work to ensure that your financial objectives are accounted for and that your gifts will accomplish priorities shared by you and the BA. The information below outlines some of the planned giving options available. For more specific information or to discuss your intentions, please contact Janee Shaw, Director of Development at 800-662-9937 or jshaw@chbenvolent.org.
If you have included the BA in your will, living trust or other gift arrangement, click here to join our Legacy Circle.
Bequests
A will (or revocable trust) is one way to provide for the organizations and individuals we value. By naming the BA in your will, you are helping preserve the precious ministry of Christian Science nursing. A bequest provision may be for a specific sum of money, a percentage of one’s estate, or specific asset(s). A bequest may also be in the form of a gift of the remaining assets of one’s estate. Bequests, like other gifts, can be designated for many purposes or given without restriction.
Sample Bequest Language
I give ( _______ dollars) or ( ______ percent of the residue of my estate) or (the following property) to the Chestnut Hill Benevolent Association of Chestnut Hill, Massachusetts, for its general charitable purposes.
Retirement Plans
Individual Retirement Accounts (IRAs), tax-sheltered annuities, Keogh plans, 401(k), 403(b) and other qualified pension and profit-sharing plans can also provide significant support to the BA. When the BA is named as a beneficiary of any of these plans, the funds will usually pass to the BA outside of probate and free of all taxes. The BA may be named as a beneficiary by notifying the plan administrator.
Charitable Gift Annuity
A charitable gift annuity is easy to create and doesn’t require a lot of money. With a gift annuity you simply transfer funds to the BA in exchange for lifetime payments. You and/or a designated loved one will receive a fixed, quarterly payment at an attractive rate of return for life. Your annuity rate and your payment don’t fluctuate with the stock market, interest rates or inflation. It is set at the time your gift is made and never changes.
The age of the annuitant determines the payment rate: the older the annuitant, the higher the rate. The rates offered by the BA are based on the rates recommended by the American Council on Gift Annuities. The minimum contribution is $5,000. Click here for single annuitant rates.
Charitable Remainder Trusts
The charitable remainder trust allows you to make a significant gift to the BA, while addressing financial planning needs of you and your family. The trust is an individually managed trust paying its beneficiaries—you, your spouse, family members, or other individuals—income. Charitable remainder trusts can be used to meet specific goals. For example, a charitable remainder trust is frequently used as a means of providing supplemental income during retirement, and can be especially attractive as a way to convert appreciated, low-yielding assets into a high-yielding diversified portfolio without incurring capital gains tax. A donor to a charitable remainder trust receives a partial charitable deduction equal to the value of the charitable remainder interest.
Charitable remainder trusts take two basic forms: the charitable remainder unitrust and the charitable remainder annuity trust.
Charitable Remainder Unitrust: A charitable remainder unitrust pays income based on a percentage of the fair market value of the trust assets as determined annually. The unitrust pays income to the beneficiaries for their lifetimes, for a term of up to 20 years, or for a combination of both. When the unitrust terminates—at the death of the last beneficiary or at the end of the trust term—the remaining balance will be available to the BA for the use you designated when you created the trust. Because a unitrust pays a variable amount of income based on the annual market value of the trust assets, this form of charitable remainder trust can be an effective hedge against inflation.
Charitable Remainder Annuity: A charitable remainder annuity trust pays income based on a percentage of the initial value of the trust and never changes. The trust pays income to the beneficiaries for their lifetimes, for a term of up to 20 years, or for a combination of both. When the trust terminates—at the death of the last beneficiary or at the end of the trust term—the remaining balance will be available to the BA for the use you designated when you created the trust. Since the annuity payment does not change during the term of the trust, an annuity trust provides the certainty of a fixed amount of income each year regardless of any fluctuations in the value of the trust assets.
