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Every year, Boston Chinatown Neighborhood Center (BCNC) relies on hundreds of generous supporters like you to help us deliver all the essential programs to thousands of children, youth and adults. There are many ways to give and our staff is available to help you find the approaches most suited to your needs. Regardless of how you give, or how much, every gift counts.
BCNC is a 501(c)(3) organization. All donations are tax deductible to the extent permitted by the law.
You can make a gift in one of the following ways:
Give by Mail - Write a check payable to “Boston Chinatown Neighborhood Center” or “BCNC” and mail it to:
BCNC, Development Department, 885 Washington Street, Boston, MA 02111
Give Online – Donate Now from our website to make a gift with a credit card.
Give by Phone - Call Carmen Chan at 617-635-5129 x1053.
Other ways to give:
Join the Red Envelope Giving Circle
Request a Matching Gift from your employer
Pledge a monthly gift
Give Appreciated Stock
Payroll deduction through the City of Boston, Commonwealth of Massachusetts and federal government
Join the BCNC Legacy Society by making a planned gift:
Bequest
Life Insurance
Make a gift that gives you income (Charitable Gift Annuity)
Charitable Remainder Trusts (CRT)
Charitable Lead Trusts (CLT)
Other Ways to Give
Join the Red Envelope Giving Circle
In the Chinese culture, a hong bao, a red envelope with money inside, is given away for special celebrations such as new year, birthdays, and weddings. It symbolizes good fortune, prosperity, love and appreciation. Through a generous contribution of $500 or more to BCNC, you will become a member of the Red Envelope Circle. Members are honored at a VIP reception hosted by the board president and listed on a display in BCNC’s lobby.
The Red Envelope Circle represents a group of leadership donors who, through their support, show commitment to supporting children and youth, strengthening families and building a stronger community. The potential impact of your gift is:
$10,000 Provides summer camp for 18 children
$ 5,000 Provides one month of family services which include parenting workshops, counseling and support groups.
$ 2,500 Provides training for a class of women to become family child care providers
$ 1,000 Provides one semester of English classes to a student in the Adult Education program
$ 500 Provides one year of tutoring for one youth
Request a Matching Gift from your employer
Double your giving! Check whether your employer has a matching gift program. It often just takes submitting a simple form.
Pledge a monthly gift
If you would like to contribute to BCNC on a regular basis, please consider a monthly gift. Contact the Development Department at Carmen.Chan@bcnc.net or at 617-635-5129 x 1053 and we can charge your credit card each month or set up a payment system based on your preferences. Even if you give $15 a month, this adds up to a significant annual gift.
Give Appreciated Stock
Donating appreciated stocks or mutual funds offer significant tax benefits. We have set up electronic wire transfer for your convenience. Please contact Carmen Chan, Director of Development, at 617-635-5129 x1053 or at Carmen.Chan@bcnc.net to ensure proper handling.
Payroll deduction through the City of Boston, Commonwealth of Massachusetts and federal government
If you are an employee of the City of Boston, Commonwealth of Massachusetts or federal government, consider giving to BCNC via payroll deduction with the City of Boston Employee Campaign (BCNC’s charity code is 3503), the Commonwealth of Massachusetts Employee Charitable Campaign (BCNC’s charity code is 111222) or the Combined Federal Campaign (BCNC’s charity code is 52263).
Join the BCNC Legacy Society by making a planned gift
Bequest
Consider joining the BCNC Legacy Society by naming BCNC beneficiary in your will or revocable trust. Suggested wording for an unrestricted bequest:
“I leave (
$__________ or X% of the residue of my estate) to Boston Chinatown Neighborhood Center whose current legal address is 885 Washington Street, Boston, MA 02111.”
You may also designate your bequest to a specific area of programming such as youth programs, adult programs, or children programs. For more specific designations, please call us to discuss your wishes.
Tax Benefit: 100% of a bequest to BCNC is exempt from Federal Estate Taxes.
Contact the Development Department Carmen.Chan@bcnc.net or at 617-635-5129 x 1053 to discuss this giving option. Life Insurance
If you own a life insurance policy that is no longer needed for its original purpose, you can name BCNC the beneficiary and/or the owner of the policy. Simply ask your insurance company for a change of beneficiary form. Tax Benefits:
Beneficiary Change Only - Since this is revocable during your lifetime, there is no current tax benefit. However, the value of the proceeds distributed at death to BCNC receives a Federal Estate Tax Charitable Deduction.
Transfer of Policy Ownership to BCNC - In the year of the transfer, you will be able to claim an income tax charitable deduction for approximately the cash surrender value of the policy. Receive a Fixed Income from your Gift (Charitable Gift Annuity)
Through a Charitable Gift Annuity, you can make a gift of cash or securities and retain a fixed income for the rest of your life. The rate of annual payment is based on the age of the annuitants (maximum of two) at the time of the gift. On the death of the annuitants, the remaining principal will benefit BCNC. Please note: The Boston Foundation has agreed to administer the Charitable Gift Annuity on behalf of BCNC. The minimum gift is $25,000.
Tax Benefits: You will receive an income tax charitable deduction based on actuarial calculations. The deduction is generally between 40% to 50% of the value of the gift. The deduction is higher for older beneficiaries. In addition to the income tax deduction, the payments from the Charitable Gift Annuity receive preferential treatment. A portion of the payment is considered tax-free for a period of years. If you use appreciated securities, a portion of the payment will be reported as capital gain income.
Contact the Development Department at Carmen.Chan@bcnc.net or at 617-635-5129 x 1053 and we would be happy to provide an example of the tax consequences for your individual situation. Charitable Remainder Trusts (CRT)
If you wish to create a life income plan that is more flexible than a Charitable Gift Annuity, consider a Charitable Remainder Trust (CRT). A CRT works particularly well for non-income producing appreciated assets because there is no immediate capital gain tax when the CRT sells the funding assets for reinvestment.
The basic features of a CRT include: • The donor transfers assets to a CRT. Funding assets can include cash, securities, or real estate.
• The donor retains the right to receive income from the trust or creates an income interest for other beneficiaries, or both.
• The donor is entitled to a partial federal income tax charitable deduction in the year he or she funds the trust (or an estate tax charitable deduction for a CRT funded at death).
• There is no immediate capital gain tax when the CRT sells appreciated securities to diversity and reinvest the proceeds.
• When the CRT terminates, the remaining principal will distribute to BCNC.
• The donor chooses the trustee and, in most cases, can be the trustee.
• The donor chooses the type of payment (fluctuating or fixed) and the percentage of the payment, provided the payment is a minimum of 5% and no greater than 50% of the original funding assets.
• The term of the trust can be measured by a term of years, not to exceed 20, or by the lives of the beneficiaries, most commonly self and spouse.
The practical minimum for a CRT is $250,000. Contact the Development Department at Carmen.Chan@bcnc.net or at 617-635-5129 x 1053 and we would be happy to discuss the benefits of a CRT with you. Charitable Lead Trusts (CLT)
The best way to describe a CLT is through a fruit tree analogy. You own a fruit tree. You decide to give BCNC the fruit for a period of years. At the end of the stated term, you keep the tree or you give the tree to your heirs. You can transfer assets into a CLT and designate that BCNC will receive income for a period of years. Depending on your family or tax goals, you would choose one of two types of CLT: 1. Accelerate an income tax charitable deduction for future gifts into the current year. You would transfer assets into a CLT and provide income payments to BCNC for a period of years (i.e. 5 years, 10 years, 20 years). Based on IRS calculations, you receive an income tax charitable deduction in the current year for the present value of BCNC’s payments. However, you also report any gains on the sale of assets during the trust term. This type of CLT allows you to support BCNC for several years, retain ultimate ownership of the assets, and receive a deduction for future gifts in year one. For donors who expect a larger than normal income flow in one year, this CLT makes great sense. 2. Transfer assets to heirs at a substantially reduced gift or estate tax cost.
You would transfer assets into a CLT and provide income payments to BCNC for a period of years, after which the assets distribute to your heirs. Based on IRS calculations, you would receive a gift or estate tax deduction for the value of BCNC’s payments.
By strategically selecting the payout rate and the term of the trust, you create a gift or estate tax deduction that will reduce the value of the taxable gift to your heirs. This gift vehicle works well for donors whose estate exceeds the individual estate tax exemption for the year of death ($2,000,000 for 2008, $3,500,000 for 2009).
Contact the Development Department Carmen.Chan@bcnc.net at 617-635-5129 x 1053 and we can show you the details of your individual situation and help suggest the kind of CLT that can best work for you.
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