Gifts that Produce Income
Charitable Remainder Trust
A gift to support the BSO, with immediate income and tax benefits for you.
A charitable remainder trust is a gift plan that can enable you to make a larger gift to the BSO than you may have thought possible.
A charitable remainder trust may be particularly attractive and beneficial to you if:
- You are planning for retirement or want to supplement your existing retirement income
- You want to provide income for yourselves, children, or other loved ones
- Your are concerned about burdensome capital gains taxes
- You are considering selling a business but want to limit or avoid your tax exposure
- You would like to convert unmortgaged real estate into a stream of income
Charitable remainder trusts can be funded with cash, securities, debt-free real estate, tangible personal property, and, potentially, other kinds of assets. Depending on your tax circumstances, a gift to a charitable remainder trust can help you reduce not only your income tax, but also your capital gains and gift/estate tax burdens.
Moreover, you may be able to convert an asset that generates little or no income into an attractive income stream for you and/or other individuals. Often, these trusts can be structured so that the income generated could grow over time, if the value of the trust grows.
Benefits of a charitable remainder trust include:
- Attractive income for life or a term of up to 20 years
- An income tax charitable deduction equal to a portion of the gift amount
- No up-front capital gains tax if long-term appreciated property is donated
- Future support for the BSO, Boston Pops, or Tanglewood
- Membership in the Walter Piston Society
Charitable remainder trusts are very flexible and can be structured to suit your personal needs. We are happy to work with your financial advisor or attorney to explain the structure that considers your tax consequences and optimizes your philanthropic impact.
Charitable Gift Annuity
A secure way to maximize your rate of return.
The concept of a gift annuity is simple and similar in ways to the charitable remainder trust. You donate assets of at least $10,000 that the Boston Symphony Orchestra reinvests. The BSO agrees to make fixed payments to you for life (and, if desired, for another beneficiary's lifetime). Payments are based on age, the size of your gift and the number of beneficiaries; generally older and/or single income beneficiaries produce larger income and tax benefits. At the end of the agreement, the funds are used by the BSO according to your wishes.
- A high fixed rate of return for life for you (and possibly another person).
- An immediate income tax deduction.
- Partial tax-free income for gifts of cash and/or high-basis stock.
- Tax favored income for gifts of appreciated securities.
- The ability to designate your gift to the BSO, Pops or, Tanglewood.
If you are age 65 or younger, you might consider a deferred charitable gift annuity which will provide a fixed income stream to you beginning at a future date. Deferring the date of the first payment typically increases the annual payments and your immediate income tax deduction.
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