Planned gifts

Gifts that keep on giving

Bequests, revocable living trusts, and other gift instruments allow donors to support the School while protecting, and even enhancing, their own financial security.

There are many different ways to make a planned gift to BUSM. The BUSM Development Office helps donors explore the options that best fit their interests and their financial circumstances. Donors can choose to provide either general BUSM support, or support for the specific purposes that are most important and meaningful to them.

We look forward to working closely with you to plan a personalized gift to Boston University School of Medicine. Once you know all the possibilities, you may find that you can have a greater impact—on the present, on the future—than you ever imagined.

Giving through a will

There are several different ways donors can leave a bequest for BUSM in their will, including:

  • Outright bequests that designate a specific dollar amount to pass to the School. With this option, donors know exactly what sum will be applied to the program or area of their choice.
  • Percentage bequests that specify what percentage of the value of the estate will pass to the School.
  • Leaving a specific item or asset to the School. Donating tax-burdened assets, such as U.S. savings bonds, to BUSM supports BU’s mission and saves money on taxes.

Just a few sentences in your will or trust are all that is needed. The official bequest language for Boston University is: “”I give and devise (_____________), without reduction for any tax occasioned by my death, to Trustees of Boston University, a Massachusetts non-profit corporation having a principal place of business in Boston, Massachusetts, to be used or disposed of as the University (or School/College) in its sole discretion deems appropriate.”

Retirement plans

Retirement plans, including IRAs, 401(k) plans, Keogh plans, and others, can provide excellent “pockets” from which to make charitable gifts. Many people are surprised to learn that heirs will receive relatively little of the balance in such plans after estate, income, and other taxes are deducted. Donors should check with their financial advisers to learn more about making current and future gifts based on retirement assets.

Charitable gift annuities

Charitable gift annuities can augment the financial and estate plans of donors, especially retirees. Under the terms of a gift annuity, a donor transfers assets to the School of Medicine and then receives fixed payments for life and/or the life of another.
Minimum gift: $10,000

Deferred gift annuities

Donors of deferred gift annuities contribute cash or appreciated securities, and receive annuity payments beginning at a future time, if they choose. The minimum age at which to contribute to a deferred gift annuity is 55. The annuity rate is based on how long payments are postponed, the age of the annuitant when payments begin, and other factors. The donor receives a larger charitable income-tax deduction because of the deferral.
Minimum gift: $10,000

Charitable remainder trusts

Through a charitable remainder trust, donors can realize their philanthropic dreams while still meeting near-term financial obligations. Payments from a charitable remainder trust can supplement retirement income, help defray educational expenses for a grandchild or other family member, or augment the income of an older relative.

Charitable remainder trusts offer flexible giving opportunities for donors who want to provide significant future funding for the School. The donor transfers cash or appreciated assets to a trust, which provides payments for a specified number of years. At the time designated by the donor, funds remaining in the trust are transferred to BUSM to benefit the program of the donor’s choice (or the School at large). Charitable remainder trusts can be designated to provide variable or fixed payments, while offering donors several tax and payment benefits.
Minimum gift: $100,000

Charitable lead trusts

This type of trust works well for donors with specific needs, including those who seek to preserve closely held businesses for the next generation. During the term of the trust, payments (either fixed or variable) are made to BUSM. At the end of the predetermined time period, the assets in the trust are transferred to the donor’s heirs.
Minimum gift: $100,000

Choosing the best asset to give

Donors can fund a planned gift with any of the following assets:

  • Cash
  • Securities
  • Real estate
  • Life insurance cash value
  • Stock in closely held businesses
  • Certain personal property, such as artwork, antiques, and jewelry

The Claflin Society

Donors who plan their gifts with the School of Medicine automatically become  members of the Claflin Society and enjoy its many benefits. Being a part of the Claflin Society allows BUSM supporters to meet other people who have made generosity to the School a philanthropic priority.

Learn more about how planned giving benefits the University, and how to plan a gift, at www.bu.edu/opg, or by contacting BU Planned Giving at 800-645-2347 or 617-353-2254.