Ways of Giving
graduate school of arts and sciences
There are many ways to make a gift or to fulfill a pledge to the Graduate School of Arts and Sciences. Each has its distinctive benefit, depending on the type of asset contributed, the form of gift selected, and the donor's age. The Development Office is prepared to work with donors to fashion the most beneficial gift for the donor, for the donor's family, and for GSAS.
The quickest way to make a gift is outright, either by check or credit card. Appreciated securities can also be donated. This donation allows the individual to avoid capital gains taxes on the contributed shares and to be credited with a gift valued at the full fair market value of the shares.
Life Income Gifts
Federal tax laws provide ways to structure a gift that provides a stream of income to the donor and/or another beneficiary the donor may name, while giving the donor a charitable deduction for his or her philanthropy. The most commonly used gift vehicles are charitable gift annuities and charitable remainder trusts. Life income gifts provide an immediate charitable deduction to the donor, even though GSAS's use of the contributed assets is deferred until the term of the gift vehicle has expired. With life income gifts it is frequently possible to improve the level of the donor's annual income, even while expressing one's philanthropic interest in GSAS. Through such charitable gifts, a donor may also actually improve the value of the estate he or she wishes to leave to heirs. In the final analysis, the potential advantages of such gift arrangements often enable individuals to make charitable gifts at levels much higher than they thought possible.
A life insurance policy, no longer needed for its original purpose, is another possibility. This can be contributed to GSAS by irrevocably transferring ownership of the policy to Boston College, designating GSAS as the beneficiary. In general, gift credit is given for the cash surrender value and that value may be claimed as an income tax deduction in the transfer year.
Donors may include GSAS as a beneficiary of their estate. Bequests may be made for a specific amount or for a percentage of the residual estate, after all specific bequests have been fulfilled.
To discuss any options that may interest you, contact the Office of University Advancement at Boston College.
The information on this site is not intended as legal, tax or investment advice. For such advice, please consult an attorney, tax professional, or investment professional.