Ways to Give a Planned Gift

Naming Boys & Girls Clubs of Metro South as the beneficiary of a retirement plan asset such as an IRA, 401(k), or 403(b) will accomplish a charitable goal while realizing a significant tax savings.

Beneficiary Designations from Retirement Accounts and Other Funds

Beneficiaries of your Retirement Plan or your IRA

Designate Boys & Girls Clubs of Metro South as a beneficiary of part or all of your qualified retirement plan or your IRA. Normally the assets held in an IRA or qualified retirement plan will be subject to both income tax and estate taxes, but if you name Boys & Girls Clubs of Metro South as a beneficiary of a percentage (or all) of your plan, that portion will pass to Boys & Girls Clubs of Metro South free of income or estate taxes... meaning your hard-earned savings will make the maximum possible impact you intend them to!

Payable on Death Bank Account Designation

Designate your bank account to be payable on death (P.O.D.) to Boys & Girls Clubs of Metro South when you pass on. There is no change in ownership, control, or benefit from this account while you're still living. The payable-on-death designation takes effect only when you pass on, and causes whatever funds are in the account to be gifted to Boys & Girls Clubs of Metro South upon your passing.

Transfer on Death Brokerage or Investment Account Designation

Designate your brokerage or investment account to be transferable on death (T.O.D.) to Boys & Girls Clubs of Metro South when you pass on. It's not necessary for the T.O.D. designation to transfer all of the account solely to Boys & Girls Clubs of Metro South. You can designate percentages of the account to pass to additional beneficiaries. To set up the T.O.D. endorsement, contact your investment advisor and provide the instructions regarding the change.

Make Gifts to Boys & Girls Clubs of Metro South

Tax ID# 22-2963214

Through a provision in your written and executed will or living trust you can make a gift to Boys & Girls Clubs of Metro South in the form of cash, securities, real estate or personal property. There are many types of bequests. Consult with your attorney to choose the option that best fits your needs and intentions.

Gifts from Your Will

Bequests to Boys & Girls Clubs of Metro South

Include a bequest to Boys & Girls Clubs of Metro South in your will. You can make your bequest unrestricted or direct it to a specific purpose with personal significance to you. You may even indicate a specific amount or percentage of the balance remaining in your estate.

Benefits

• Your assets remain in your control during your lifetime.
• You can modify your gift to address changing circumstances.
• You can direct your gift to a particular purpose (be sure to check with us to make sure your gift can be used as intended).
• Under current tax law, there is no upper limit on the estate tax deduction for your charitable bequests.

Planning Tip

If you express your gift as a percentage (e.g., "20 percent of the residual of my estate"), you can maintain the same relative gifts to charities and your heirs, regardless of changes in estate value. If you're considering designating your gift for a specific purpose, such as support for a specific program or initiative, contact us to ensure that we understand your wishes.

Endowment funds for a restricted purpose

If your bequest will be used to establish an endowment fund for a restricted purpose, we recommend that you and your counsel consider adding a "saving clause" to your bequest provision. A "saving clause" is a way to ensure the usefulness and relevance of your bequest in the future as Boys & Girls Clubs of Metro South's needs and priorities change. 

Charitable Gift Annuity

You can turn under-performing assets (cash, stocks, CDs, savings bonds, etc.) into gifts to Boys & Girls Clubs of Metro South that will also provide income to you and/or a loved one. A charitable gift annuity is a contract between a donor and charitable organization whereby when a sizable gift is made using cash, securities, or possibly other assets, the donor becomes eligible to take a partial tax deduction for the donation, in addition to receiving a fixed stream of income from the charity for the rest of their lifetime.

Fixed Payments for Life

A charitable gift annuity allows you to gain the security of fixed, guaranteed payments for life, receive a tax deduction for a portion of your gift, and make a gift to Boys & Girls Clubs of Metro South that you may not have thought possible.

Fixed Payments for Later

If you don't need income right away, you can obtain both a higher payout rate and a larger charitable deduction by establishing a deferred charitable gift annuity. A deferred gift annuity allows you to receive a guaranteed, fixed income for life that begins when you need it, and receive a tax deduction for a portion of your gift to Boys & Girls Clubs of Metro South.

Variable Payments that Can Grow

Charitable remainder trusts allow you to make a gift of cash, stock, or real estate to Boys & Girls Clubs of Metro South, receive a tax deduction for a portion of your gift, and receive variable income from your unitrust for life.

When you donate appreciated stocks, bonds, or mutual fund shares instead of cash, your gift costs you less than the amount Boys & Girls Clubs of Metro South receives. You'll get a charitable deduction for the full amount of your gift and avoid the impact of capital gains taxes.

Gifts of Publicly Traded Securities

Giving publicly traded shares of stock, bonds or mutual funds to Boys & Girls Clubs of Metro South allows you to turn an appreciated asset into support for our members.

Gifts of Closely Held Stock

Own your own business? It's also possible to give closely held stock to Boys & Girls Clubs of Metro South.

If you're 70 ½ or older, each year, you can instruct your IRA administrator to transfer all or part of your required minimum distribution (up to $100,000) directly to Boys & Girls Clubs of Metro South and avoid paying the taxes you would have if you had you taken it as income.

Make a Tax-Free Gift from Your IRA

An IRA Rollover allows you to make a gift to Boys & Girls Clubs of Metro South directly from your IRA, pay no taxes on the transfer, and count the gift toward your required minimum distribution.

How You Benefit

A charitable IRA rollover makes it easier to use IRA assets, during your lifetime, to make charitable gifts.

• Your gifts count toward your Required Minimum Distribution but do not count as income for federal income tax purposes.
• If you've already used up your charitable deductions or don't itemize your deductions, you can still make gifts through tax-free IRA transfers.

Maximum Gift

• An individual taxpayer's total charitable IRA rollover gifts cannot exceed $100,000 per tax year.

Like stocks, the fair market value of gifts of appreciated assets such as real estate, artwork, and other well-curated collections can be deducted from your income tax today, avoid capital gains, and reduce estate taxes in the future. There are even ways to donate your home and live there as long as you'd like.

Gifts of Personal Property

Gifts of Real Estate

Using real estate to make a gift allows you to turn an asset into support for members of Boys & Girls Clubs of Metro South, receive a charitable income tax deduction, and potentially avoid paying capital gains taxes.

Gifts of Retained Life Estate

A retained life estate allows you to make a gift of a personal residence or farm to Boys & Girls Clubs of Metro South, receive a tax deduction for a portion of your gift, and continue to use your property while you are still living.

Donor Advised Fund

Designate Boys & Girls Clubs of Metro South to receive all or a portion of the balance of your fund through your fund administrator (you can also make a grant to us at any time from your donor advised fund). The balance in your fund passes to Boys & Girls Clubs of Metro South when it terminates upon your passing.

How You Benefit

• You can direct your gift to a particular purpose (be sure to check with us to make sure your gift can be used as intended).
• Maintain flexibility to change beneficiaries if your needs change during your lifetime.

Charitable Remainder Trusts provide you with income from an asset that then passes to Boys & Girls Clubs of Metro South as a gift. Charitable Lead Trusts provide income to Boys & Girls Clubs of Metro South before the asset passes to your heirs. For the savvy donor, charitable trusts can provide tax-advantaged income, eliminate capital gains, or preserve assets for your heirs.

Gifts Through Trusts

Grantor Charitable Lead Trusts

A grantor charitable lead trust allows you to give an annual income to Boys & Girls Clubs of Metro South, receive a charitable income tax deduction, and retain the trust principal when the trust's term ends.

Charitable Remainder UniTrusts

A charitable remainder unitrust allows you to donate cash or appreciated assets and receive annual payments as a fixed percentage of the trust's value. When the value of the trust increases, so do your payments and your gift to Boys & Girls Clubs of Metro South. Your donation qualifies for an immediate tax deduction, and the assets in the trust are exempt from capital gains taxes.

Flip UniTrusts

A flip unitrust allows you to donate illiquid assets like business interests or assets earning little or no income like real estate to receive an immediate tax deduction, and allow the value of those assets to appreciate in the trust tax-free. When they are sold, the trust flips to a conventional charitable remainder unitrust and income payments to the beneficiary begin.

Family Trust

A family trust is also called a charitable lead trust because the charity takes the 'lead' in receiving income for a period of time with the remaining assets going to the donor's family when the term of the trust expires. The donor receives an immediate tax deduction for their gift, and the assets that pass to the family.

Name Boys & Girls Clubs of Metro South as the beneficiary of an existing life insurance policy; donate an existing, paid-up life insurance policy you no longer need; or purchase a new life insurance policy and name Boys & Girls Clubs of Metro South as the owner and beneficiary.

Gifts of Life Insurance

Make Boys & Girls Clubs of Metro South a beneficiary of your life insurance

Making a gift of life insurance allows you to transfer ownership of a paid-up life insurance policy to Boys & Girls Clubs of Metro South. Boys & Girls Clubs of Metro South can elect to cash in the policy now or hold it.

How You Benefit from a Gift of Life Insurance

• Make a gift using an asset that you and your family may no longer need.
• Receive an income tax deduction equal to the cash surrender value of the policy.
• You may be able to use the cash value of your policy to fund a gift that delivers income, such as a planned gift annuity.