The Legacy Circle honors friends whose generosity will help us thrive for generations to come. Please consider naming BCNC as the beneficiary of your bequest or estate plan. A planned gift takes many forms, and depending on which path you choose, it can provide significant tax benefits or even a lifetime income for you and your loved ones. BCNC is happy to work with you and your professional advisor to create a charitable gift plan to meet your personal and philanthropic interests. Please contact Jean Quintal.
We are proud to honor members of BCNC’s Legacy Circle
Carmen Chan
Chin Tunn Fon Endowment Fund
Elaine Ng and William Greally
Felix Lai Memorial Fund
Fung Family Endowment Fund
Nubuko Kuhn
Stanley Chen Legacy Fund
Victor Winghon Lee and Maisie Tam Lee Endowment Fund
With the following planned gift options, your gift to BCNC can last far beyond your lifetime.
Charitable Bequest
A bequest is a provision in a will that provides a specific dollar amount or a percent of your estate to Boston Chinatown Neighborhood Center (BCNC) upon death. Large or small, a bequest is an easy and flexible way to support BCNC far beyond your lifetime.
When preparing or revising your will, please consider using the following wording to include a gift to BCNC: “I leave ($____ or X% of the residue of my estate) to Boston Chinatown Neighborhood Center (BCNC) whose current legal address is “38 Ash Street, Boston, MA 02111”.
Life Insurance
You can name BCNC as a beneficiary and/or owner of a life insurance policy that you no longer need for its original purpose. Such a gift would entitle you to a current income tax deduction and would remove the asset from your estate, thus saving potential estate taxes as well.
IRA or Retirement Plan
An IRA or Retirement plan can make a great gift to BCNC. Since these assets generally incur income taxes and estate taxes at death, a gift of such assets allows 100% of the amount to be put to use.
Charitable Gift Annuity
Receive a Fixed Income from your Gift
Through a charitable gift annuity, you can make a gift and receive a guaranteed, fixed income for your lifetime. The payment can be made to you alone or to you and a survivor (commonly a spouse). A charitable gift annuity provides several benefits:
A fixed income for life;
An income tax deduction;
No loss to capital gain taxes on appreciated securities;
A portion of the annuity payment tax-free.
Don’t need the income now? You can defer payments to a later date. The annuitant must be a minimum of age 60 when payments begin. When you defer the payments, you receive a higher income tax deduction and a higher annuity rate than for an immediate payment annuity.
Endowment
In addition to current gifts for operating purposes, we welcome you to consider a gift to our Permanent Endowment. All endowed funds are held permanently with income only to be used. By making a gift to the BCNC Endowment, you can permanently link your name to BCNC or pay tribute to loved ones through a gift in their honor.
*In all cases, please consult your own financial adviser before entering into a planned gift arrangement with BCNC.
