By making a planned gift to Donald W. Reynolds Boys & Girls you are ensuring our organization will always be a resource for the children and youth of Fayetteville. This lasting gift provides the Club with hope for the future and benefits to you as well:
-Potentially increases your income
-Enables a way of satisfying your personal and financial goals
-Provides substantial tax benefits
Please visit www.clubgift.org (through Boys & Girls Clubs of America) for detailed information on types of planned gifts – including language for making codicils in your will to gift illustrations. We recommend that you seek the advice of your tax and/or legal counsel before making a planned gift to ensure that you are receiving optimal benefit from this provision.
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This is one of the simplest ways to make a planned gift as the donor can designate a specific amount or percentage of one’s estate that might include securities, jewelry, works of art, and real estate.
A donor could also make the Donald W. Reynolds Boys & Girls Club the beneficiary of a 401K, IRA, pension fund, other retirement plan or life insurance policy. Naming the Club as partial or full beneficiary of your retirement plan can result in income and estate tax savings.
A charitable gift annuity is a contract, under which a charity, in return for an irrevocable transfer of cash or marketable securities from a donor, agrees to pay a fixed sum of money for a period measured by one or two lives. A charitable gift annuity:
-Provides fixed income for life, partly tax free (payments based upon age)
-Provides charitable deduction
-Reduces capital gains tax if the basis of the gift exceeds its current value
-Reduces estate tax
-Requires no setup cost
A gift of cash or marketable securities (includes stocks, bonds or mutual funds) can be designated to the Donald W. Reynolds Boys & Girls Club for endowment, unrestricted program support or a specific program. The minimum funding amount is $10,000 (no maximum) and the donor must be at least 60 years of age.
For example, Mrs. Doe, age 75, has $10,000 in a CD that will mature next month. She thinks she can get 1.75% interest on a new CD. But Mrs. Doe has been thinking about leaving $10,000 in her will to the Donald W. Reynolds Boys & Girls Club, and that leads her to think about an annuity. For a $10,000 gift, Mrs. Doe will receive: an annual income of $640 (6.4% under current suggested rates); $470 of which will be tax free, an income tax charitable deduction of $4,176, and the immediate satisfaction of making a truly significant gift to Club.
To summarize, Mrs. Doe has:
-Transferred $10,000 in exchange for an income for life.
-Arranged for payments that will total 6.4% of the gift amount annually, which is $640 per year.
-Eliminated tax on $470 (about 73% of the payments) for the first 12.4 years they are received.
-Made a gift that results in an immediate charitable income tax deduction of $4,176.
-Assured the amount used to fund the gift annuity will not be subject to estate tax or probate expenses.
The Donald W. Reynolds Boys & Girls Club is working with Boys & Girls Clubs of America to manage this type of gift. Should you be interested, Club staff will work closely with you and BGCA on arranging specifics.
A charitable remainder trust is a personalized life income gift that provides a donor with a lifetime income and a charitable income tax deduction. The donor selects the payout rate, usually between 5 and 7 percent, providing the donor, and the donor's spouse, with an income every year for life. The higher the payout rate, the lower the charitable tax deduction. If the donor funds the trust with appreciated securities, the donor will avoid capital gains taxes. The donor selects the trustee who may invest in almost any investment, including tax-free bonds. Donors may designate the remainder of their trust to benefit the Boys & Girls Club.
There are other trusts, Charitable Lead Trusts, which provide income payments ("lead interest") to the Donald W. Reynolds Boys & Girls Club for a set period of years. At the end of this fixed period the assets in the trust revert to the donor, to family members or to others as designated by the donor.
You can make a gift of unencumbered commercial or residential real estate to the Donald W. Reynolds Boys & Girls Club and receive substantial benefits. For an outright gift of real estate, the donor receives a charitable income tax deduction based on the fair market value (appraised value) of the property. If you are considering leaving your home to the Donald W. Reynolds Boys & Girls Club through your will, you may wish to consider giving it now but retain the right to live in it during your lifetime. You are still responsible for paying taxes, insurance, and maintenance costs, but you do receive a substantial charitable income tax deduction in the year the gift is made. In some cases, real estate may be used to provide a life income stream through a charitable remainder trust or other gift planning option.
If you have stocks, bonds, mutual funds or other assets that you have owned for more than one year and that have increased in value since the time of purchase; you may find it advantageous to give them to the Donald W. Reynolds Boys & Girls Club. Your outright gift of long-term, appreciated securities is exempt from capital gains taxes and, if you itemize, you may claim a charitable income tax deduction equal to the full fair market value of the property at the time of transfer. For gifts of property, your gift is fully deductible for up to 30 percent of your adjusted gross income, and like gifts of cash, may be carried forward for up to five years. Appraisal is the responsibility of the donor.
If you would like more information on the types of gifts mentioned above, please contact Becky Brink, Director of Development, at 479-442-9242 x109 or by email. If you have already named the Donald W. Reynolds Boys & Girls Club as a beneficiary in your estate plan, we hope you will let us know so that we can properly thank you, if you permit, and recognize your intention.