As we start planning for the sustained future of Camping Services we know that rising costs will be one of the key issues that face all our camps. The support of our endowment will ensure the continued development of our programs, upkeep of our properties, and quality of our equipment…FOREVER!
The Heritage Club
The YMCA established its Heritage Club to honor those friends who, by including the YMCA in their financial and estate planning, have ensured our programs and services will positively impact the lives of future generations to come.
There are many different types of planned gifts, including:
Bequests
The YMCA receives a gift provided for in a donor's will. The gift reduces estate tax obligations.
Charitable Gift Annuities
In exchange for an irrevocable gift of cash and/or securities, the YMCA will provide fixed income payments to the donor for up to two lifetimes. The gift will provide an immediate charitable income tax deduction and, in most cases, a portion of the payments will be tax-free.
Deferred Charitable Gift Annuities
Similar to a charitable gift annuity, the donor receives an immediate income tax deduction for the gift. At a later date (usually retirement) the donor begins receiving a fixed income from the YMCA.
Life Insurance Policies
When the YMCA is named as the beneficiary and owner of a life insurance policy the donor receives an immediate charitable income tax deduction. The full face value of the policy is removed from the donor's taxable estate.
Retirement Plans
Individuals at least 70 ½ years of age are able to make tax-free gifts from IRA funds that would be subject to taxes if withdrawn voluntarily or withdrawn under mandatory requirements. Donors may choose to make charitable contributions in any amount up to $100,000 per year.
Charitable Remainder Unitrusts
A donor irrevocably transfers cash and/or securities to a trustee (often the YMCA itself) who pays the donor (or other individual) income for life or for an agreed-upon term.
Charitable Remainder Annuity Trusts
The donor receives a fixed income amount from the gift for the rest of his or her life.
Real Estate
There are several types of real estate gifts. A donor may contribute real estate outright or transfer it in a bargain sale. A donor can use real estate to fund a gift annuity or a net income unitrust, thus converting a non-income producing asset that is presumably highly-appreciated into a life-income arrangement with significant tax benefits. Finally, a donor may make a gift of his or her residence to the YMCA while retaining the right to live in the residence for the rest of his or her life. The donor receives a tax deduction at the time of the gift and when the donor dies the property goes to the YMCA.
Our Development staff will be happy to meet with you and your financial advisor to design a plan that is uniquely tailored to meet your philanthropic objectives. Please contact Harold Sparrow at hsparrow@ymcaboston.org or at 617.927.8025.
