Life income plans provide a donor and/or other designated
beneficiary with income throughout his or her lifetime. Life income
gifts also offer benefits including the ability to make a
significant charitable gift to BAM after one's lifetime.
- Charitable Gift Annuity: A charitable gift
annuity is a contract between a donor and a nonprofit organization
that provides advantages to both. The donor makes a gift and
receives a guaranteed payment for life and a charitable income tax
deduction. The payout rate on a gift annuity is based on the age of
the donor at the time the gift is made. Charitable gift annuities
may be funded with cash or securities. BAM plans to offer
charitable gift annuities in the future.
- Charitable Remainder Trust: A trust that pays
income to one or more individual beneficiaries for life or a term
of years, and then distributes the remaining assets to one or more
- Charitable Lead Trust: A trust established for
the benefit of a charity under which the charity receives income
from an asset for a set number of years or for the trustor's
lifetime. Upon the termination of the trust, the asset reverts to
the donor or the donor's designee.