Gifts that pay you income
Special alert for you!
Charitable gift annuity rates have gone up again, making your payout rates higher than they have been in more than a decade. Additionally, with the passage of the SECURE 2.0 Act, qualified IRA holders aged 70½ can use their IRAs to fund a charitable gift annuity. Contact us to see if this opportunity might be right for you.
Charitable Gift Annuities
Charitable gift annuities (CGAs) offer a secure, fixed payment stream for yourself and/or a loved one for your lifetime(s). You will also receive tax benefits and the satisfaction of creating a lasting legacy through Mass General Brigham.
*Your exact benefits may vary depending on age of the beneficiary and timing of the gift.
How it works:
- You donate cash or appreciated securities worth $10,000 or more to Mass General Brigham. In return, you and/or another beneficiary will receive fixed payments for life.
- Your payment rate is based on your age (payments start at age 65 or later) and will never change.
- A portion of your payments will be tax-free.
- The older you are — or the longer you defer starting your payment — the higher your payments will be.
- You can elect to receive your income payments immediately or defer payments to a later date.
Benefits to you:
Lifetime payments that will never change.
Capital gains tax savings when you fund your CGA using appreciated stock.
You are eligible for an immediate charitable income tax deduction.
Your gift passes to Mass General Brigham outside of the estate process.
You create your legacy of accelerating discoveries and improving healthcare.
Charitable Remainder Trusts
A Charitable Remainder Trust (CRT) is a tax-free trust that pays you and/or other beneficiaries an annual distribution. This payment is either a percentage of the annual value of the trust, or a percentage of the original gift amount.
How it works:
- You transfer cash or an appreciated asset* into an irrevocable trust.
- The trustee then sells the asset, paying no capital gains tax, and reinvests the proceeds.
- For the rest of your life (or a term of years), you and/or another beneficiary receive payments from the trust.
- After your lifetime, the remaining principal can be used to support the greatest needs of Mass General Brigham or directed to an area you are most passionate about.
* While donating real estate is the most common way to fund a charitable trust, a wide variety of assets can be used, including cash, appreciated publicly traded or closely held stock, as well as oil, gas, or mineral interests.
Benefits to you:
You receive income for life for you or your heirs.
You receive a charitable income tax credit for the charitable portion of the trust.
You create your legacy of accelerating discoveries and improving health care.
Share your legacy with us
Please let us know if you’ve already included a gift for Mass General Brigham in your estate plans. Providing us with documentation is the best way to ensure your gift is used as intended.
Get in touch with our team!
Contact us directly to learn more about how to propel life-changing research and exceptional care.
