Being part of the Heritage Club is a powerful way to make a difference and leave a lasting legacy. Your gift to the YMCA Endowment Fund will ensure the YMCA’s life-changing to impact future generations. Discover more below.
Endowments can be made by either an outright gift of cash or other property, or through the use of planned giving techniques. Planned giving involves including the Anaheim Family YMCA in your overall financial and estate plan. This can often lead to substantial benefits to both the donor and the Y, including reducing or eliminating income, estate, capital gains, and gift taxes. There are many different types of planned gifts – some offer an income stream to you for life, others may help you control the method or timing in which assets are passed to your heirs. Check with your tax or legal advisor to find out which one might be right for you.
The endowment fund is important because:
• It generates a stable flow of charitable income to secure Y programs for future generations
• It promotes long-term planning to help maintain vital YMCA programs
• It protects principal amounts, even during economic fluctuations
Anyone who makes a planned gift to the Anaheim Family YMCA becomes a member of our exclusive Heritage Club. Members will receive an invitation to the annual Heritage Club Dinner, recognition in the YMCA Annual Report and the Heritage Club programs, membership memento, and courtesy mailings of YMCA publications.
Click here to see a list of current Heritage Club Members.
TYPES OF PLANNED GIFTS
An easy way to help the Anaheim Family YMCA increase its endowment fund is to name us in your will, after you have made sure that your family and friends are well taken care of. This has several advantages:
• Charitable gifts made through your will are free of estate tax
• A charitable bequest may place your estate in a lower tax bracket
• You may specify that your bequest to the Anaheim Family YMCA be used for general purposes or for a particular area of interest (camping, or sports, for example).
• Once you notify the Anaheim Family YMCA of your bequest intention, you qualify for membership in the Heritage Clubb
To make a bequest to the Anaheim Family YMCA, the following language will be helpful to your attorney:
I give, devise, and bequeath to the Anaheim Family YMCA (a California Corporation), located at 240 S. Euclid St., Anaheim, CA 92802, (here insert the amount or percentage of money, or describe the personal property or real estate) to be used for the general purposes of said association.
Did you know that your retirement plan benefits are facing double taxation? If you leave the assets to your heirs, you’ll generate “income in respect to a decedent.” So not only is the amount diminished by estate taxes, but your heirs will also have to pay income tax on it!
A gift of your retirement plan also has several benefits:
• Naming us the primary beneficiary avoids ALL income and estate taxes
• Your estate gets partial savings when you give us a specific amount before giving family the remainder
• Naming us the contingent beneficiary allows for greater flexibility
• Donating retirement plan assets could be the most cost-effective gift you can make
There are a variety of trusts and other vehicles for making a gift from your estate to the Anaheim Family YMCA. Each has different benefits, ranging from reduced taxes to providing you and/or your heirs an income stream for life. In some cases, the benefit to making a gift actually outweighs the cost to the heirs because of the tax savings.
For More Information
Our planned giving staff will be happy to answer your questions and provide you more information about various gift options. Give us a call at 714-635-9622. And check with your personal tax or legal advisor about which options might be right for you.