Planning a legacy gift is rewarding and easier than you might think.
Legacy gifts that support our work – including a specific Club, project, or program – are a meaningful and rewarding way to transform lives, fortify communities, and set an important example for future generations. There are a number of creative ways that you can give to Boys & Girls Clubs of Boston, whether you name us in your will or create a more complex arrangement. We can help you think strategically about how to support BGCB, so that you can maximize the impact you will have on our work.
Please consider joining the friends, leaders, volunteers, alumni, and staff who have already made their legacy gift. And, if you already included us in your estate plans – we would appreciate the opportunity to thank you for your generosity and to help make sure your intentions are carried out properly.
To learn more about how you can support BGCB through a planned gift, we are pleased to offer additional resources through Boys & Girls Clubs of America. Here, you’ll find more detailed information and documents to assist you with your philanthropic planning.
- Life Income Gifts
- Retirement Assets
A charitable bequest is one of the easiest gifts to make. It is a gift made through your will, directing that part of your estate go to one or more of your favorite charities. Since a charitable bequest can take many forms, you have considerable flexibility. You can leave a specific asset, a specific sum of money, a percentage of your estate or what remains of your estate after you have provided for other beneficiaries. You can designate exactly how you want your bequest to be used or leave it unrestricted so that Boys & Girls Clubs of Boston has the flexibility to meet our priority needs. Most importantly, you can change any bequest provision during your life, which means you remain in complete control of the process.
Sample bequest language:
“I give and bequeath to Boys & Girls Clubs of Boston, Boston, MA, the sum of $____ [or ___%] to be used for its general purposes.”
Federal Tax ID:
Be sure to consult your tax and financial advisor when considering any planned gift and obtain the assistance of an attorney when making or revising your will. If you have questions or require additional information, Elizabeth Shearer, our Senior Director of Planned Giving and Donor Relations, would be pleased to work with you and your attorney.
Brothers remember BGCB in their estate plans
When we refer to Club Kids, we usually mean Boys & Girls Clubs of Boston members. But two of our Club Kids are Fred and Dick Church, sons of “Mr. Boy’s Club” Frederic C. Church, Sr. who served Boys & Girls Clubs of Boston as a board leader for half a century, including twenty years as President (1935-1955). Fred and Dick followed in their father’s footsteps, becoming involved with Boys & Girls Clubs of Boston as young men and remaining dedicated to our work today.
Fred worked at the Charlestown Club while at college and was a counselor at the Boys & Girls Club summer camp on Cape Cod. He was a Director for four decades and also served as President. Today Fred is a Senior Advisory Board member.
Dick remembers tutoring in the South Boston Club and working as a camp counselor during college. He went on to serve for 25 years as a Director and is currently an Overseer Emeritus. Dick shared:
“As kids, Fred and I learned a lot from our Dad about Boys & Girls Clubs of Boston and about the importance of continuing to give back to those kids less fortunate than ourselves. We feel strongly that we want to continue supporting this remarkable organization in a meaningful way. By making provisions for Boys & Girls Clubs of Boston in our wills, both my brother and I can continue our family’s legacy and, most important, show our loyalty to an organization that will continue to help future generations of Club members.”
Creating a Secure Legacy
Donna Hazard felt an immediate connection to Boys & Girls Clubs of Boston (BGCB) when she toured the Edgerley Family South Boston Club in 1998. She quickly became a Trustee and later joined the Board of Directors, finding these roles to be deeply satisfying.
However, it was volunteering at the Yawkey Club of Roxbury that cemented Donna’s life-long commitment to BGCB. Together with a friend, she taught business classes to the Keystone Club, which was running a café to raise funds. Donna recalls a member, Michael, who came daily despite challenges at home. Through their conversations and seeing his relationships with staff, Donna realized the important role the Clubs play as safe, stable, and empowering places.
A member of the Board’s Executive Committee, Donna continues to apply her business skills for BGCB’s benefit. She is acutely aware of the importance of having a strong endowment, having seen the impact of an economic downturn. She wants to ensure that BGCB can still serve the children, families, and communities that count on it, even in the face of rising expenses and uncertain markets.
While still in their 40’s, and with a young family, Donna and her husband, Chip, decided to include a bequest to BGCB in their estate. They know this legacy gift will someday grow the endowment, supporting future generations of Club kids.
“Planned giving is a means for us to extend our support for work that has been tremendously meaningful to us. Coupled with a gifted leadership team, this program helps guarantee that crucial resources and opportunities will continue to be available long after we’re gone.”
Life Income Gifts
Do More for Yourself and for Charity
Each year, thousands of caring individuals choose charitable gift annuities as a way to provide major financial support to the charitable organizations that mean the most to them. In many cases, this time-tested technique has permitted people to make gifts that would not otherwise have been possible.
Consider Mary, age 70. Mary has always wanted to make a significant gift to us, but she feels she cannot afford an outright gift. With a gift annuity arrangement, she can give $25,000 to us and we will provide her with $1,175 every year for as long as she lives. Moreover, the annuity payments will be favorably taxed, and the gift qualifies for a charitable tax deduction. A charitable gift annuity will provide Mary with an opportunity to do more for herself and us.
Boys & Girls Clubs of Boston’s gift annuity program is administered by Boys & Girls Clubs of America. Gift Annuity Rates are subject to change. Contact us to verify rates. Be sure to consult your tax and financial advisor when considering any planned gift.
A Gift Annuity Is Popular and Flexible
The ability to arrange a gift that combines annuity payments with favorable tax results is a major reason for the popularity of charitable gift annuities.
A carefully planned gift annuity can accomplish important personal and financial objectives.
Let’s look at some examples:
– Patrick, age 58, earns more than enough to meet his everyday expenses, but he wants to reduce his current tax liabilities and supplement his retirement savings. A deferred gift annuity that begins payments years from now could be an excellent option for him.
– Helen wants to provide financial help for a dear sister. She finds she can make a gift to us, enjoy an immediate tax deduction, and arrange for the charity to make annual payments to her sister for as long as she lives.
– Frances is preparing for retirement and wants to convert assets that are producing little or no income to yearly payments. Channeling these assets into a charitable gift annuity lets her benefit us and accomplish her objective without incurring immediate capital gains tax.
Our gift annuity program offers a great deal of flexibility and is simple, direct and certain.
– You fund the annuity with cash or other property.
– You name yourself and/or someone else as beneficiary (two beneficiaries maximum).
– You direct us to begin annuity payments now or at some later time.
For a personal and confidential illustration, or to learn more, please contact Elizabeth Shearer, Senior Director of Planned Giving and Donor Relations, at email@example.com.
As you consider your philanthropic goals, we invite you to think about other ways to support our work. A retirement asset, such as an IRA account, makes an excellent bequest to us.
If the IRA were given to your family, much of the value may be lost through estate and income taxes. By designating Boys & Girls Clubs of Boston as the beneficiary of all or part of your IRA (using a beneficiary designation form provided by your custodian), the full value of the gift is transferred tax-free at your death and your estate receives an estate tax charitable deduction.
Federal Tax ID:
Be sure to consult your tax and financial advisor when considering any planned gift.
Life Insurance Policy Supports Endowment
Senior Advisory Board member John U. Harris Jr. was invited onto Boys & Girls Clubs of Boston’s Board in April 1963 and has remained part of the BGCB family ever since. He marvels at the changes the organization has gone through in this time, remembering that we served 4,000 boys at three Clubhouses when he was Chair of the Board from 1972 through 1976. That number has grown to 15,000 youth and 11 sites today.
“All of us have had special associations in life which have given us great satisfaction – for me, one which has provided me with tremendous pleasure has been my time spent working with the Board, staff and members of Boys & Girls Clubs of Boston. For what I have given to the organization, I have received much more in return.”
John’s leadership is still evident, as he co-chairs an annual luncheon of longtime board members and volunteer leaders – known as the ‘Lovejoy Luncheon’ after the late Joseph E. Lovejoy. John’s belief in the mission of BGCB has been demonstrated in countless ways over the years, and he continues to open doors for kids and builds on lasting friendships.
Beyond his annual gifts, John decided to make a planned gift of a paid-up life insurance policy to support the endowment – knowing that his legacy will be a part of BGCB’s work for generations to come.
Support BGCB with an IRA Rollover
If you are age 70½ or over and own an IRA, you can make a gift using a direct transfer of funds from your IRA to charity.
Transferred amounts count toward your required minimum distribution if one is due, but no tax is due on the distribution (up to $100,000 annually). At any time during the year, you can simply notify the IRA custodian to make a direct transfer of the required distribution amount from your IRA to us. This is not only an easy way to give, but it can play a strategic role in your annual planning and have an immediate impact on our mission. (IRA contributions after age 70½ reduce qualified charitable distribution amounts.)
Points to keep in mind when considering a charitable rollover:
– Individuals who transferred IRA funds directly to a qualified charity this year and meet the age requirements should check with an advisor to determine if their transfer qualifies as a tax-free charitable rollover.
– Each tax situation is unique. It is essential that you consult your advisor immediately and work closely with your IRA custodians to assess your individual situation.
Contact Elizabeth Shearer at 617.994.4784 or firstname.lastname@example.org for more information.