maaps is pleased to announce a new cost-saving program for Planned Giving Services with BAYSTATE FINANCIAL PLANNING (BAYSTATE).  BAYSTATE has agreed to act as maaps members’ adjunct planned giving director for member’s Development Offices.  BAYSTATE’s services include assistance in targeting the proper audience, listening to directors and staff on planned giving strategy and tailoring specific programs to the individual needs of the member schools.  Because of their relationship with maaps, they are providing these services at no cost to members. 

Some of the tailored programs that BAYSTATE offer include:

• CHARITABLE GIFT ANNUITIES (CGA),
• CHARITABLE REMAINDER ANNUITY TRUSTS (CRAT),
• POOLED INCOME FUNDS (PIF),
• CHARITABLE REMAINDER UNITRUSTS (CRUT),

Example: Donors can make a significant gift to a maaps member even if they require some of the income derived from their current funds.  This can be done by using a gift annuity.  BAYSTATE will help the maaps member’s development department select the appropriate insurance, annuity and/or investments necessary to provide that income to the donor and a gift to the maaps member.

• LIFE INSURANCE BEQUEST,

Example: Donors can make a significant gift to a maaps member through life insurance.  This is accomplished by naming the maaps member as the beneficiary and owner of an existing or new life insurance policy for the donor.  BAYSTATE will work with the maaps member’s development department, the donor and the donor’s advisors to review various life insurance alternatives, including the use of existing policies, and guaranteed death benefit contracts (GDB).

*GDB contracts provides that if the donor pays $X for Y years, then the maaps member is guaranteed to receive $Z when the insured’s passes away.

• IRAs and other RETIREMENT ACCOUNTS.

Example: Under today’s tax laws, retirement accounts are subject to ordinary income taxes upon distribution (even if the distribution is “stretched”).  They are also included in the taxable estate.  As a result, for those whose estates are over the current exemptions, the heirs may receive as little as 30 cents on the dollar.  BAYSTATE will work with the maaps member to let donors know about the opportunity to gift some or all of these accounts to the maaps member instead of the State and Federal Treasuries.

To find out more about the various ways that BAYSTATE can assist your development department, you can call John F. Raycroft at 781-876-4125.  Again, maaps is delighted to have the opportunity to work with BAYSTATE.  We hope that you will check out our new Cost Saving Vendor today.