Ways to Give

A bequest to the Boston Foundation ensures that the charitable causes that are important to you and your family will continue to be supported beyond your lifetime. Bequests can be made by will or revocable trust.

Benefits of a bequest:

• • Receive an estate tax charitable deduction
• • Reduce the burden of taxes on your family
• • Leave a lasting legacy to charity

How a bequest works:

A bequest is one of the easiest gifts to make. With the help of an attorney, you can include language in your will or trust specifying a gift to be made to family, friends or the Boston Foundation as part of your estate plan, or you can make a bequest using a beneficiary designation form.

Sample Bequest Language:

The suggested language below is provided to assist donors and their attorneys in making gifts to establish new funds at the Boston Foundation by will or trust agreement. Our planned giving team works with donors and attorneys to craft a letter of intent that remains on file with TBF.

"I give and devise the sum of $ __________________________________ /the following described property _________________________________________________ (description of assets given) to Boston Foundation, Inc., 75 Arlington St., 3rd Floor, Boston, MA 02116, Federal Tax ID # 04-2104021, with the request, as consistent with the Articles of Organization and Bylaws of Boston Foundation, Inc., as amended from time to time, that the funds thus be used in accordance with the most recently signed letter of intent I submitted.”

When retirement assets pass to your heirs, they can be subject to both estate and income taxes. Many donors elect to avoid these taxes by designating the Boston Foundation as the beneficiary of their retirement accounts and designating other assets (such as stock or real estate) to their heirs. Additionally, you can name the Boston Foundation as the beneficiary of other accounts such as life insurance, Donor Advised Funds, investment accounts and other retirement vehicles.

IRA Charitable Rollover

If you are 70½ or older, an IRA charitable rollover is a way you can help continue our work and benefit this year. While an IRA charitable rollover, also called a qualified charitable distribution (QCD), cannot be transferred to your donor advised fund, these gifts can be used to further TBF’s mission by supporting funds like The Annual Fund for Civic Leadership, The Fund for Boston’s Future, our Equity and Justice Funds, and more.

Benefits of an IRA charitable rollover:

• Avoid taxes on transfers of up to $108,000 from your IRA to the Boston Foundation
• Make a gift that is not subject to the deduction limits on charitable gifts
• Help further the work and mission of our organization

How an IRA charitable rollover gift works:

1. Contact your IRA plan administrator to make a gift from your IRA to us.
2. Your IRA funds will be directly transferred to our organization to help continue our important work.
3. Please note that IRA charitable rollover gifts do not qualify for a charitable deduction.
4. Please contact us if you wish for your gift to be used for a specific purpose.

Giving other retirement assets:

Donating part or all of your unused retirement assets, such as your IRA, 401(k), 403(b), pension or other tax-deferred plan, is an excellent way to make a gift to the Boston Foundation through your estate.

Benefits of gifts of retirement assets

• Avoid potential estate tax on retirement assets
• Your heirs would avoid income tax on any retirement assets funded on a pre-tax basis
• Receive potential estate tax savings from an estate tax deduction

How to make a gift of retirement assets

To leave your retirement assets to the Boston Foundation, you will need to notify your plan administrator that you would like to name "the Boston Foundation, Inc." (tax ID 04 2104021) as a retirement plan beneficiary. Your estate, if taxable, will benefit from an estate tax charitable deduction for the gift. While donor advised funds cannot be the recipient of a qualified charitable distribution from an IRA, donor advised funds can be the death beneficiary of such accounts.

More on gifts of retirement assets

Did you know that 60%-70% of your retirement assets may be taxed if you leave them to your heirs at your death? Another option is to leave your heirs assets that receive a step up in basis, such as real estate and stock, and give the retirement assets to the Boston Foundation. As a charity, we are not taxed upon receiving an IRA or other retirement plan assets.

A simple, flexible way to give

A beneficiary designation gift is a simple and affordable way to make a gift to support the Boston Foundation. You can designate us as a beneficiary of a retirement, investment or bank account, Donor Advised Fund, or your life insurance policy. It is very simple to name the Boston Foundation as a beneficiary. Start by requesting a change-of-beneficiary form from your policy administrator or download the form from your provider's website. Make your desired changes and return the form to establish your gift.

If you are interested in making a gift but are also concerned about your future needs, keep in mind that beneficiary designation gifts are among the most flexible of all charitable gifts.

Charitable Remainder Unitrusts and Charitable Remainder Annuity Trusts

Charitable Remainder Trusts allow you to make a charitable gift and retain an income stream for yourself and/or others for life or a fixed number of (up to 20) years. These trusts are particularly well suited for gifts of appreciated securities and other assets such as real estate that is producing little or no income at the time of the gift. The remaining assets are distributed to the Boston Foundation at the end of the trust term.

Charitable Lead Trusts

With a charitable lead trust, income payments are made initially to a charitable fund at the Boston Foundation for a term of years or for the lives of individuals. At the end of the term, the remaining assets pass to heirs or other individuals you designate. Charitable lead trusts can be established during life or by will.

Donating appreciated real estate, such as a home, vacation property, undeveloped land, farmland, ranch or commercial property can make a great gift to the Boston Foundation. You may avoid paying capital gains tax on the sale of the real estate and receive a charitable income tax deduction based on the value of the gift. To learn more about giving a gift of real estate, visit our non-cash assets page.

You can make a gift to the Boston Foundation by naming the Boston Foundation as the beneficiary of a life insurance policy. To make a gift of life insurance, please contact your life insurance provider, request a beneficiary designation form from the insurer and include the Boston Foundation, Inc. (tax ID 04-2104021) as the beneficiary of your policy.