Charitable Gift Annuity
With a Charitable Gift Annuity, you can provide lifetime payment for yourself or a loved one and as part of your legacy, help a charity like Big Brothers Big Sisters of Central Mass/Metrowest (BBBSCM/MW). To establish a Charitable Gift Annuity, you make a gift to a charity such as BBBSCM/MW and in exchange you receive a fixed annual dollar amount for life. The principal remaining upon your passing will then benefit the mission of BBBSCM/MW.
While Charitable Gift Annuities can be funded at a younger age, this type of gift might especially be attractive if you are over the age of 70, want to support BBBSCM/MW, and would like to secure an immediate stream of income for yourself and/or another loved one. The amount of the annuity payments is based on the age(s) of the income beneficiary(ies). The older one is, the higher the payout rate one receives. In addition to the stream of fixed income, the gift also will generate an immediate charitable income-tax deduction.
How It Works:
1. You transfer cash or other property to BBBSCM/MW
2. You will receive a guaranteed fixed income for life from BBBSCM/MW and get an immediate income tax deduction
3. Upon your death, the remaining balance goes to BBBSCM/MW
To learn more about how you can support Big Brothers Big Sisters Central Mass/Metrowest through a charitable gift annuity, contact Jeff Chin at 508-752-7868 ext. 11