Leaving a legacy

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 charities.
• 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.