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Special Gifts Invest in a better future for all of us! Leave a legacy to the Boys and Girls Clubs of Hancock County. BGCHC has been serving Hancock thousands of area youth for 70 years. While the organization has changed and grown over the years, the goal is still to provide ”The Positive Place for Kids.” Alumni of BGCHC have warm, wonderful memories of their experiences and lasting results of the impact their memberships had on their lives. What about future generations? What legacy will we leave for them? There are many other ways to support Boys & Girls Clubs of Hancock County to ensure that our Clubs and programs remain accessible and affordable to the families who need us most, today and for years to come. Learn more by clicking on the links below. Planned Giving, Endowment Gifts, Gifts of Stock, Gifts in Honor, Gifts in Memory, Other Gifts In-Kind
A Menu of Giving
Options We recommend 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.
Estate Planning For many donors, a gift made through a will or trust is the most realistic way to make a major gift. Indeed, all bequests to BGCHC that are not directed to a specific program are designated as part of the agency's permanent endowment. Those far-sighted gifts continue to provide critical support to all the agency's programs to this day. Property, including cash, securities, jewelry, works of art, and real estate, may be given through a will or trust. Through estate planning provisions, a donor may leave to BGCHC a specific dollar amount, for example, $50,000, or a specific percentage, such as 25 percent of the estate. The donor may stipulate whether the bequest is for the general support of BGCHC or for a specific purpose or Club. A bequest may also be made in honor or memory of another individual. All outright bequests to BGCHC are exempt from federal estate taxes.
Charitable Gift Annuity 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:
An acceptable gift is either cash or marketable securities (includes stocks, bonds or mutual funds) and can be designated to BGCHC for endowment, unrestricted program support or a specific Club. The minimum funding amount is $10,000 (no maximum) and the donor is someone 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 4% interest on a new CD. But Mrs. Doe has been thinking about leaving $10,000 in her will to BGCHC, and that leads her to think about an annuity. For a $10,000 gift, Mrs. Doe will receive: an annual income of $710 (7.1% under current suggested rates); $423 of which will be tax free, an income tax charitable deduction of $4,749, and the immediate satisfaction of making a truly significant gift to BGCHC.
Charitable Remainder and Lead Trusts 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 any BGCHC program.
There are other trusts, Charitable Lead Trusts, which provide income payments ("lead interest") to BGCHC 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.
Gifts of Real Estate You can make a gift of unencumbered commercial or residential real estate to BGCHC 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 BGCHC 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 BGCHC. 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 or would like to see confidential examples specific to your own financial situation, please contact BGCHC. If you have already named BGCHC 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.
For more information, please contact: Darren W. Turner Executive Director
Boys & Girls Clubs
of Hancock County
715 East Lincoln
Street 317-462-3704
“With no endowment, without a dollar of invested funds, and with donations and subscriptions coming in so slowly that at no time during the year were there funds in hand sufficient to carry the Club sixty days into the future, it has been impossible for your superintendent to do his best work.” ~1894 Report of the Superintendent Bunker Hill Boys’ Club While much has changed for BGCHC in the past 70 years, our financial model has remained as challenging as it was in our founding year. Throughout our history, BGCHC had depended heavily on annual fund contributions to sustain operations. As a result, we have been vulnerable to economic shifts every year, placing unwarranted stress on our staff, and ultimately jeopardizing our commitment to the youth whom we serve. BGCHC will continue to build an endowment to protect the organization during periods of economic fluctuation. Gifts to BGCHC’s endowment are invested for long-term growth. While a fixed percentage of endowment assets will be spent annually, income above that percentage will be reinvested to accelerate growth. The board has given the Hancock County Community Foundation (personnel with strong financial backgrounds) the control to review its performance and the ability to work on the investment strategy. With a solid commitment to fiscal accountability, BGCHC will be able to maximize the impact this endowment will have on both current and future generations. Endowment revenue will be used primarily to offset program and operating costs – 50% of which are related to staffing. Donors can add to the unrestricted endowment fund in which provides BGCHC the greatest flexibility, allowing Board and management to direct financial resources to areas of greatest need. Donors receive an annual report on representative uses of unrestricted endowment income. A healthy endowment is the key to reshaping BGCHC’s financial model and providing BGCHC with the solid financial platform needed to advance our mission. To make an endowment gift, please contact Darren W. Turner, Executive Director, at 317.462.3704. Donate Stock
When you contribute
an appreciated security that you have owned for more than one year to
BGCHC, you will receive a charitable income tax deduction for its full
market value, and you'll avoid any capital gains tax on the increase in
value of the stock since you purchased it. Click
here to learn more about the benefits of donating stock.
If you have any questions, call 317-462-3704. Deciding what to give someone who has almost everything?
Celebrate with a gift to support Boys & Girls Clubs of Hancock County. There are many occasions when it might be appropriate to recognize a loved one in this meaningful way. Your contribution will be acknowledged with a letter informing the person being honored of your generosity and commitment to the young people of Hancock County.
For more
information, please call the Administrative Office at 317-462-3704, via
email
admin@bgchc.com , or write to:
Boys & Girls Clubs
of Hancock County
You can pay tribute to someone who valued the work of Boys & Girls Clubs during his or her lifetime, or whose life was changed for the better by a Boys & Girls Club by making a memorial gift. BGCHC will acknowledge your thoughtful gift with a letter to the family or friends whom you designate.
For more
information, please call the Administrative Office at 317-462-3704, via
email
admin@bgchc.com , or write to:
Boys & Girls Clubs
of Hancock County
In-kind gifts of products or services enable us to provide hope and opportunity to our members, help us keep our Clubs accessible and affordable so that we can reach our county's most at-risk youth, and allow us to host spectacular events that raise money for our work while showcasing the accomplishments of staff and members. Whether it is tickets to a sports game for our members, printing services for an invitation, strategic planning consulting expertise, or food for our Clubs, in-kind gifts allow us to reduce our expenses and direct more of the money we raise to direct services for youth.
What kinds of donated items can the clubs use?
Please keep in mind that we have limited storage space and pickup abilities. For more information, contact the BGCHC's Administrative Office at 317-462-3704.
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