Planned Giving

The Brooklyn College Foundation offers many philanthropic options that benefit both the donors and Brooklyn College. Many of our financial vehicles, such as gift annuities and trusts, provide the donor with income for life and pay a rate of return that may equal or exceed current investment returns. Moreover, some of these vehicles may avoid capital gains taxes and reduce estate taxes. We also work with donors who wish to make gifts through their estates while preserving assets for their current needs.

Legacy Society

Charitable Gift Annuities

Gifts of Real Estate
You may make a gift of commercial or residential real estate to the Brooklyn College Foundation and receive substantial financial benefits. If the property is given outright, you will receive a charitable income tax deduction based on the appraised value of the property.

If you are contemplating leaving your home to the Foundation through your will, you may wish to consider giving it now but retaining the right to live in it for your lifetime. You will continue to pay taxes, insurance, and maintenance costs. By giving now, however, you receive a charitable income tax deduction in the year the gift is made. The Foundation retains the right to refuse any gifts of property after careful evaluation of risks.

Charitable Reminder Trusts
A charitable remainder trust provides a lifetime income and a charitable income tax deduction. The donor selects the payout rate, usually between 5 and 7 percent. The higher the payout rate, the lower the charitable income tax deduction. The donor receives an income every year for life or for a predetermined time period.

An annuity trust pays a fixed, guaranteed dollar amount regardless of the trust's investment performance. A unitrust pays the donor a predetermined percentage of the fair market value of the trust's assets valued annually. Both trusts help to avoid capital gains taxes on transfers of appreciated assets. Estate taxes may be avoided or diminished.

Gifts Through Your Will
For many donors, making a gift through their estate is the preferred way to provide a substantial contribution to the Brooklyn College Foundation. A gift through an estate may reduce or eliminate estate taxes.

Bequests may indicate a specific dollar amount, a specific piece of property, or a stated percentage of the estate. Another option is a residuary bequest, whereby the Brooklyn College Foundation receives part or all of the estate under specified circumstances.

For more information about these or other planned giving opportunities to the Brooklyn College Foundation, please contact William J. Healy, Senior Philanthropy Advisor at 718.951.5074, or atWHealy@brooklyn.cuny.edu

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