Gift planning can benefit you and your loved ones while helping those in need in West Baltimore
Use your retirement account to make a legacy gift to Bon Secours Baltimore Foundation
When thinking about how you want your assets distributed after your lifetime, you may be considering a gift for Bon Secours Baltimore Foundation along with taking care of your heirs.
Using your retirement account to fund your philanthropic goals and leaving other assets to your heirs is a powerful estate planning option. If your loved ones receive your retirement account after your lifetime, they would be responsible for paying income taxes on the asset. But if Bon Secours Baltimore Foundation is the beneficiary, as a tax-exempt charity it is not required to pay the income taxes and will benefit from the full amount of your retirement account. You can then leave other assets with lower tax obligations to your heirs.
Simply complete a beneficiary designation form listing Bon Secours Baltimore Foundation as the beneficiary and submit it to your financial advisor or retirement account custodian. Please notify our Foundation team so we can ensure your gift is used according to your wishes.
Our gift planning expert can provide you and your professional advisors with information that compares various charitable giving options, helping you confidently plan for the distribution of your assets in a way that most benefits your heirs and accomplishes your charitable goals.
A Beneficiary Designation is a simple way to leave an asset to the Foundation
Watch this short 7-minute video to learn how you can easily name the Foundation to receive a specific asset upon your passing. It's as easy as completing a form to ensure the Foundation receives all or part of an asset like your retirement account, bank account or life insurance policy.
Lock in higher payouts for life!
Open a new Charitable Gift Annuity before rates drop
If you’ve been considering a Charitable Gift Annuity (CGA), you're in luck. The rates increased by 0.4% on January 1, 2024, meaning you will receive even greater payouts for life when you lock in at current rates. Using a CGA to provide dependable income makes sense in today’s challenging economy and ensures what remains of your CGA after your lifetime directly helps West Baltimore neighbors in need by supporting Bon Secours services like affordable housing and Community Works.
Single Life Suggested Maximum Gift Annuity Rates
Effective January 1, 2024 as recommended by American Council on Gift Annuities
- Age 60: 5.2% rate
- Age 65: 5.7% rate
- Age 70: 6.3% rate
- Age 75: 7.0% rate
- Age 80: 8.1% rate
- Age 85: 9.1% rate
- Age 90+: 10.1% rate
Request a free customized CGA illustration to see the payments and tax benefits you could receive.
Unleash the potential of your life insurance
Donate your policy to the Bon Secours Baltimore Foundation
Do you own a term or permanent life insurance policy that you no longer need? Rather than letting the policy lapse, consider using the policy to transform the life of a West Baltimore resident by doing one of the following:
1. Name the Bon Secours Baltimore Foundation as the beneficiary of your life insurance policy, or as contingent beneficiary in case your other beneficiaries do not survive you.
2. Transfer ownership of a paid-up permanent policy to the Bon Secours Baltimore Foundation.
For more information and help with finding your best way to give to the programs and services you care about the most, contact our gift planning expert, Brad Blandin. You can reach him at [email protected] or by phone at (419) 251-1803.
Impact Spotlight
Our gift planning expert is happy to help!
Brad Blandin
Vice President of Charitable Estate & Gift Planning
✉ [email protected]
📞 (419) 251-1803