A planned gift provides future support for the many parishes, schools, and other ministries made possible through the Catholic Appeal while meeting your current financial and personal goals. Planned gifts may be revocable or irrevocable and include bequests through your will or living trust, retirement plan or life insurance policy beneficiary designations, charitable trusts and charitable gift annuities.
With careful planning you can receive an immediate income tax deduction, provide you or someone else with an annual income, and support the Catholic ministries of the Archdiocese of Boston in a meaningful way.
For more information on planned giving, please contact Pat Bartram, Executive Director of the Catholic Community Fund, at 617-779-3743 or via email at Patricia_Bartram@rcab.org. Thank you!
What Are My Planned Giving Options?
Revocable Planned Gifts
If you want to provide a future benefit to the Boston Catholic Appeal but are not yet comfortable giving away assets you may need in the future, you might consider including a bequest to the Appeal in your will or living trust, or naming the Appeal as a beneficiary of your retirement plan or life insurance policy.
While providing a future benefit to the Archdiocesan Catholic community, you will retain maximum lifetime flexibility to respond to changing family and other circumstances and can adjust your beneficiary designation accordingly. The assets you designate for the Boston Catholic Appeal will be eliminated from your taxable estate at your death, and you will also eliminate income taxes owed on designated retirement plan assets.
Irrevocable “Life Income” Planned Gifts
If you are comfortable making a current donation of assets now but would like to receive a regular payment stream for the rest of your life, a “life income” gift plan might be perfect for you.
A Charitable Gift Annuity (CGA) is a simple contract with the Archdiocese of Boston to pay you and/or your designated beneficiary a fixed annuity for life. At the end of the contract term, the remainder will be distributed to the Boston Catholic Appeal to be used for the purposes you designate.
Similar to a CGA, a Charitable Remainder Trust (CRT), provides regular payments to you and/or other beneficiaries you designate for life or for a selected term of years. A CRT offers more flexibility than a CGA by allowing you to identify multiple beneficiaries and choose the manner in which your annual payment will be calculated. The remainder is then put to use by the Boston Catholic Appeal as you choose.
With a “life income” gift, you will be eligible for a current income tax deduction, receive a regular payment stream, remove the assets you contribute from your taxable estate, reduce or eliminate capital gains tax on appreciated assets, and provide much-needed future support for the Catholic Appeal.
The Charitable Lead Trust
In contrast to “life income” gifts that provide you with a current payment stream and the Boston Catholic Appeal with a future remainder interest, a Charitable Lead Trust (CLT) provides a current payment stream to the Catholic Appeal and a remainder interest to you or a designated beneficiary. You may be eligible for a current income tax deduction, may transfer assets to your family free of transfer tax and will remove the contributed assets from your taxable estate.
You can use real estate to fund a life income gift, or you can leave real estate to the Archdiocese of Boston via your will or living trust.