In exchange for a gift of cash or securities, Boston College can provide you with income for life through a Charitable Gift Annuity contract. For example, you may choose a fixed or fluctuating payment, the rate of such payment, as well as many other features to suit your needs. This may be an excellent way to support the University, receive a current income tax deduction for the property's discounted value, and continue to use the property for as long as you live. Through relatively modest annual gifts that are used to pay premiums on the policy, you can create a far greater gift than might otherwise be possible. By naming Boston College as owner and beneficiary of the policy, your annual premiums will be deductible for income tax purposes.
Many people own insurance policies that are no longer needed for their original purposes.
Such policies can be given to the University and you will be entitled to an income tax deduction for the cash surrender value and the amount of any future premiums paid. Known as a Charitable Lead Trust, this plan allows you to direct income payments to Boston College for a specific number of years. At the end of the trust's term, assets are transferred to family members at a reduced transfer tax. You should consult with your attorney and tax advisor to determine how these various options might affect your personal tax and estate planning objectives. Return to Ways of Giving Facilities Boston College is planning to build a new four-floor Varsity Athletic Center.