A full range of short- and long-term giving options are available, all of which help make an eternity-shaping difference in the lives of people around the world.
Charitable Gift Annuity
A charitable gift annuity is a contract between a donor and BMM Foundation, in which the donor transfers cash or property in exchange for a partial tax deduction and a lifetime stream of income. Income can begin immediately or be deferred to a later time in life.
The most common planned gift is through a bequest in your will or trust. Making a will and leaving a part of your estate to BMM Foundation will further missionary efforts around the world.
This trust can be a useful tool for managing assets and reducing expenses at death. Generally, the benefits are the management of assets during your lifetime or in case of incapacity, avoidance of probate costs, incontestability, and expedited transfer of assets.
Payable on Death Designation (POD)
A simple way to make a gift of bank accounts, government bonds, securities, or similar accounts is to name BMM as POD on the ownership document to receive the property at your death. You retain complete control of your property while you are alive, and you can change the POD designation at any time.
Giving from retirement funds can provide resources to meet stewardship goals and provide potentially significant tax savings. BMM Foundation can be named as the primary or contingent beneficiary of an amount, percentage, or remainder of qualified retirement accounts, including IRAs, 401(k) or 403(b) accounts.
Making a charitable gift through a life insurance policy is a convenient way to fulfill charitable goals. There are several ways to give through a life insurance policy, including naming BMM Foundation as a primary or secondary beneficiary, purchasing a new policy, or assigning dividends from a policy to the Foundation.
Retained Life Estate Agreement
This is one way to contribute real estate to BMM Foundation. This option allows you to remain living in or using your home while establishing a gift of that property. You receive an income tax deduction in the year you make the gift, and BMM Foundation receives the property at the end of the retained life estate term, usually your lifetime.
Charitable Remainder Trusts
- Charitable Remainder Annuity Trust
This charitable trust pays income based on a percentage of the initial value of the trust. The annuity payment does not change during the term of the trust, so an annuity trust provides the certainty of a fixed amount of income each year. At the end of the trust period, the property remaining in the trust is used for the Lord’s work.
- Charitable Remainder Unitrust
This charitable trust pays income based on a percentage of the net fair market value of the trust assets each year. Because the unitrust pays based on the annual market value, it is designed to perform against inflation. At the end of the trust period, the property remaining in the trust is used for the Lord’s work.
Charitable Lead Trust
This trust permits you to make a future transfer of assets to your heirs while providing an income to BMM Foundation for a period of years. During a specified number of years, a fixed or variable income is paid to BMM Foundation. At the end of the trust term, the assets are passed to the heirs or to a trust for their benefit.
Donor Advised Fund
A Donor Advised Fund offers the opportunity to create an easy-to-establish flexible vehicle for charitable giving as an alternative to direct giving or creating a private foundation. Donors enjoy administrative convenience, cost savings, and tax advantages by conducting the charitable giving through the fund.