Planned Giving

Planning for the future is something we all eventually face, and part of that process includes deciding how the assets we’ve built over time will be shared. A will or trust is the clearest, most thoughtful way to outline these wishes and ensure they are honored.

For so many of our supporters, the Boston Arts Academy Foundation represents an investment in creativity, access, and opportunity for young people. As you create or update your estate plans that will tell your story for generations to come, we invite you to consider including a gift to the Boston Arts Academy Foundation. Your generosity helps ensure that Boston’s next generation of bold, bright, and creative young artists can thrive.

Bequests are flexible, easy to arrange, and can take many forms, including a specific dollar amount, a percentage of your estate, or other assets such as securities or personal property. And because charitable bequests are fully deductible for federal estate tax purposes, they can provide valuable financial benefits as well. Below is language you may share with your attorney, financial planner, or loved ones as you consider your legacy gifts.

• General Bequest: “I give to Boston Arts Academy Foundation, a Massachusetts nonprofit organization (Tax ID 04-3454898), or its successor, the sum of $__________________, for any purpose as the Boston Arts Academy Foundation deems appropriate.”
• Specific Bequest: “I give to Boston Arts Academy Foundation, a Massachusetts nonprofit organization (Tax ID 04-3454898), or its successor, (the real estate located at ____________________________ / 1000 shares of ______________________), for any purpose as the Boston Arts Academy Foundation deems appropriate.”
• Residual Bequest: “I give to Boston Arts Academy Foundation, a Massachusetts nonprofit organization (Tax ID 04-3454898), or its successor, ________% of the rest of my estate, for any purpose as the Boston Arts Academy Foundation deems appropriate.”

If you have included the Boston Arts Academy Foundation in your will, trust, or beneficiary designations, please let us know. Similarly, if you have questions or would like to discuss what areas of the school to support, please email our Chief Philanthropy Officer, Carlos Perrett, at [email protected]

If you are 70½ or older, you can make a tax-free gift to the Boston Arts Academy Foundation directly from your traditional or Roth IRA through a Qualified Charitable Distribution (QCD). A QCD allows you to give up to $108,000 per year and can satisfy all or part of your Required Minimum Distribution (RMD) without increasing taxable income, which may help reduce Medicare premiums and taxes on Social Security benefits. Another simple way to leave a legacy is to name BAAF as a full or partial beneficiary of your IRA, 401(k), 403(b), or other retirement account, which can preserve other assets for your loved ones. Beneficiary designations can be updated through your plan administrator at any time, with no need to revise your will. To make a QCD or update your beneficiary, contact your plan administrator and let us know so we can thank you for your generosity.

You can make a meaningful gift to the Boston Arts Academy Foundation by donating real estate, artwork, or other personal property, either outright or as part of your estate. Gifts of appreciated property, such as a personal residence, vacation home, farm, commercial building, or collectibles, can provide a federal income tax charitable deduction while helping you avoid capital gains tax and relieving you of maintenance costs, property taxes, or insurance. You may deed property directly to BAAF, retain the right to live in it during your lifetime, or explore other creative arrangements. To discuss how a gift of real estate or personal property can support BAAF and your charitable goals, contact us at [email protected] so we can guide you and thank you for your generosity.

When the original purpose of a life insurance policy no longer applies—such as providing for children who are now grown or a spouse whose financial needs are met—your policy can become a meaningful way to support the Boston Arts Academy Foundation. You can name BAAF as a beneficiary by updating your designation form, either as primary or contingent, or you can make an outright gift of an existing or new policy, naming BAAF as both owner and beneficiary. Gifts of an existing policy may allow you to deduct premium payments as charitable gifts if you itemize, and gifts of a new policy may offer similar tax benefits. Life insurance gifts are a flexible and impactful way to leave a legacy for the students and programs at BAAF.