Planned Gifts are a great way of leaving a legacy, in a manner that may benefit our Club kids as well as your own.

Below are multiple ways that you can make a planned gift to Boys & Girls Clubs of Santa Cruz County. If you’re interested in any of these planned gift opportunities and would like to speak with someone, please contact Andrew Cunningham at 831-423-3138 ext. 23 or email at andrew@boysandgirlsclub.info

Planned Giving / Bequests

Thank you for considering leaving a gift to Boys & Girls Clubs of Santa Cruz County (BGCSCC) in your Will.
We would love to talk to you and discuss some of the options available.

A bequest—a gift in your will—is simple and convenient. You can create a legacy through a bequest. Your bequest can be a specific dollar amount or a percentage of your estate. You can designate your bequest for general use, or you can restrict its use.

We appreciate family and loved ones should always come first, and believe that it is an important step to talk to family and loved ones about your Will. Communication will help to assist your final wishes are carried out. We are grateful when people decide to include a gift in their Will to BGCSCC, as they are a vital source of income and we appreciate every gift.

Leaving a gift is an important decision but it doesn’t have to be complicated. We have information, support, and advice available to make the process as easy as possible. Here are the basics:

How It Works

  1. You include a bequest provision in your will or revocable trust

  2. At your death, BGCSCC receives the bequest you specified

Benefits

  • You may change your bequest or trust designation at any time

  • You control the funding property during your lifetime

  • Your bequest or trust designation will not be subject to any potential federal estate tax

  • You provide future support for BGCSCC

Examples of various types of bequests

  • Specific bequests are used to make a gift of a specific dollar amount or specific asset (such as securities or personal property).
  • Residuary bequests are used to give all or a portion of the remainder of your estate after payment of expenses and any specific amounts designated to other beneficiaries.

Including Boys & Girls Clubs of Santa Cruz County in your will 
The following includes several examples of suggested bequest wording to benefit Boys & Girls Clubs of Santa Cruz County. Each individual situation is unique; therefore, these examples include only some of the possible gift opportunities. We encourage you to discuss your intentions with Boys & Girls Clubs of  Santa Cruz County to ensure that your wishes will be properly followed and recognized. Because a will is an important legal document, you should seek an attorney’s help. To assist you with this important process, we offer suggested wording below.

Percentage of estate for unrestricted purposes

“I give to Boys & Girls Clubs of Santa Cruz County, a nonprofit organization located at 543 Center Street Santa Cruz, CA 95060,_______ percent (%) of my estate for its general charitable purposes.”

Specific amount for unrestricted purposes

“I give to Boys & Girls Clubs of Santa Cruz County, a nonprofit organization located at 543 Center Street Santa Cruz, CA 95060, the sum of $_________ in cash (or ________ shares of _____________ stock) to be used for its general charitable purposes.”

Specific amount for restricted purposes

“I give to Boys & Girls Clubs of Santa Cruz County, a nonprofit organization located at 543 Center Street Santa Cruz, CA 95060, the sum of $________ in cash (or ________ shares of _____________ stock) to be used for ______________________________________ at Boys & Girls Clubs of Santa Cruz County.

If changed circumstances should at some future time make it impractical to continue administering the gift for the purpose designated, then Boys & Girls Clubs of Santa Cruz County Board of Directors may re-designate the purpose—provided the terms adhere as closely as possible to my original intent.”

Designating the purpose of a bequest

Unrestricted: The most useful type of bequest is unrestricted, allowing the funds to be allocated wherever the need is greatest and taking into account that changes may necessitate a use that cannot be anticipated at the time of the gift.

Restricted: You may designate your bequest to support a special program or purpose that reflects your interests. If the bequest is restricted to a specific purpose, it is important that the following wording be added at the end of the provision. This will ensure that, in the remote possibility a specified purpose may cease to need funds in the future, an alternate use for the bequest may be determined.

“If changed circumstances should at some future time make it impractical to continue administering the gift for the purpose designated, then Boys & Girls Clubs of Santa Cruz County Board of Directors may re-designate the purpose—provided the terms adhere as closely as possible to my original intent.”

IRA Contributions

Thank you for considering a contribution to Boys & Girls Clubs of Santa Cruz County!

In 2015 a permanent tax provision was approved that allows IRA holders to make distributions directly to charity. This special gift option allows donors to make an immediate difference in the lives of children and youth, while avoiding income taxes on the amount gifted.

Summary: The IRA rollover allows donors 70½ or older to transfer up to $100,000 directly from their IRA to charity each year. An IRA rollover gift is a tax-exempt distribution. Qualifying individuals can make charitable gifts using pre-tax IRA assets. This allows them to avoid taking an unwanted taxable distribution. An IRA rollover gift can be used to meet all or part of an IRA required minimum distribution.

Please note that this provision only applies to traditional IRA or Roth IRA accounts not 401K or 403B or other retirement accounts. If you have one of those accounts, you would first need to roll it over into an IRA and then make the distribution directly to the charity.

Know the Rules:

  • Donors must be 70½ or older at date of contribution
  • The money must be distributed directly to the Club (the donor should not take the money out and then give it through a personal check or credit card)
  • The maximum contribution allowed per donor is $100,000 per year
  • A rollover gift can be used to meet all or part of an IRA required minimum distribution
  • The rollover is not eligible for a charitable tax deduction; however the transferred asset is not taxable, thus reducing the donor’s taxable income
  • The rollover cannot be used to fund a deferred gift plan (such as a charitable remainder trust or charitable gift annuity)

What is an IRA charitable rollover?

An IRA charitable rollover is a distribution from an IRA holder who 70 ½ or older to an eligible charitable organization. An individual may exclude up to $100,000 from his/her gross income that would have been taxable from the required distribution.

Who might consider an IRA charitable rollover?

  • Non-itemizers
  • Donors whose charitable deductions are maxed out
  • Donors facing minimum distribution requirements
  • Some high-income donors subject to Alternative Minimum Tax
  • Donors in states that do not allow charitable deductions

What are the benefits to the donor?

  • Allows the donor to make a pre-tax gift to the donor’s favorite charity
  • Fulfills the donor’s minimum required distribution
  • Reduces the donor’s gross taxable income
IRA Rollover Summary and FAQs
Sample IRA Letter to Administrator

Beneficiary Designation

Life Insurance and Retirement Funds

You can leave your life insurance or retirement assets to us and your children will save on income tax

Your goal:    

  • You retain control and use of your assets during your lifetime.
  • Keep giving to the community after your death.

How it works:   You designate Boys & Girls Clubs of Santa Cruz County as beneficiary of your life insurance policy, retirement or bank account.

Benefit to you:

  • No cost to you now, yet gives you the satisfaction of knowing you have provided for the future well being of children.
  • You may modify your designation if your circumstances change.
  • Gifts from your estate may be exempt from federal estate taxes.

Donor Advised

Thank you for considering a contribution to Boys & Girls Clubs of Santa Cruz County!

You can make a difference in the life of a child by donating today!
There are many ways to support BGCSCC and every contribution has an impact on the lives of our members.

DAF Direct makes it easier to support your favorite charities by giving directly from your donor-advised fund.

A donor-advised fund (DAF) is a centralized charitable account. It allows charitably-inclined individuals, families and businesses to make tax-deductible charitable donations of cash, publicly-traded stock and in some case, certain illiquid assets, to a public charity that sponsors a DAF program. 

A DAF is a centralized vehicle for charitable giving that makes it easy for donors to dedicate funds to support their favorite nonprofit organization. It also provides an operationally convenient and tax-efficient method for donors to manage their charitable giving.

With a DAF, charitably inclined individuals, families, and businesses make an irrevocable gift to a public charity that sponsors a donor-advised fund program, and may take an immediate tax deduction. Donors can then recommend grants over time to BGCSCC. DAFs also allow donors to approach their charitable giving thoughtfully by involving other family members or colleagues in their philanthropic decisions. Most DAFs accept donations of long-term appreciated securities and other assets, and donors can advise how the funds are invested, which could potentially allow tax-free growth, and could result in more money for your charity.

DAF Direct currently facilitates grant recommendations from donors of Fidelity Charitable®, Schwab Charitable®, Greater Kansas Community Foundation®, and the BNY Mellon Charitable Gift Fund®. More national and community foundation DAF sponsoring organizations may be added in the future.

Give Here

Gifts In Memory

Honorariums

Trying to decide what to give someone who has almost everything? Show your appreciation as a gift to Boys & Girls Clubs of Santa Cruz County in a friend or loved one’s honor. Whether it is a holiday, birthday or another special day, honor a special someone or celebrate a special occasion in this meaningful way. Your contribution will be acknowledged with a card, informing the person being honored for their generosity and commitment to the young people of Santa Cruz County.

Memorial Gifts

By making a memorial gift, you can pay tribute to someone who valued the work of the Boys & Girls Clubs of Santa Cruz County or whose life was changed for the better by a Boys & Girls Club. BGCSCC will acknowledge your thoughtful gift with a card to the family or friends that you designate.

Give an In Honorarium or Memorial Gift by selecting ‘Dedicate this Gift’ when making your donation.

Appreciated Securities

You can make a gift of appreciated stocks or securities via a direct transfer to our brokerage account.  Your charitable deduction is equal to the fair market value of the stock on the date of transfer and you avoid paying the capital gains tax on any increase in the current value over the original cost of the stock.  A letter of transfer detailing our account information can be downloaded here.

Gifts that Pay You Income

Do you want to support BGCSCC but worry about having enough income for yourself and your loved ones? Life-income gifts can provide donors with an income stream, significant tax savings, and the satisfaction of supplying BGCSCC  with vital long-term resources.

The creation of a life-income gift benefits both the giver and the receiver—a “win-win” situation. The following life-income gifts are available, and one may be right for you:

Charitable Gift Annuity (CGA)

Your Goal:

  • Receive fixed income for life
  • Avoid capital gains tax of the sale of your appreciated property
  • Enjoy the benefit of tax savings from a charitable deduction

How it works:

You transfer your cash or appreciated property to Boys & Girls Clubs of Santa Cruz County in exchange for our promise to pay you fixed income (with rates based on your age) for the rest of your life.

Your Benefits:

  • Charitable tax deduction
  • Fixed income for life
  • Partial bypass of capital gain
  • Possible tax-free payments

Charitable Remainder Trust (CRT)

Your Goal:

  • Enjoy regular income for life or a term of years
  • Transfer your appreciated property without paying capital gains tax
  • Receive the benefit of tax savings from a charitable deduction

How it Works:

You transfer your cash or appreciated property to fund a charitable trust.  The trust sells your property tax-free and provides you with income for life or a term of years.

Your Benefits:

  • Income for life or a term of years
  • Charitable tax deduction
  • Avoidance of capital gains tax
  • Possible income growth over time

Vehicles & Real Estate

Donate a Vehicle

Donating a vehicle to the Boys & Girls Clubs of Santa Cruz County is a very easy donation process. Our vehicle donation program is made possible through our partnership with Donate For Charity, Inc. Your vehicle can be running or not, and we receive 70-80% of the net proceeds while you receive a tax deduction. When you are ready to donate your vehicle, fill out our online donation form and they will contact you to pick up your vehicle.

Donate Real Estate

You may give the property to BGCSCC while retaining the right to occupy the residence or operate the farm. Such a gift of a remainder interest provides a charitable income-tax deduction for the present value of the remainder interest that frees up tax dollars into spendable income—without causing any disruption in your lifestyle. In addition, this plan permits you to escape any potential capital-gain tax on the built-in appreciation.

Example: Sarah, 75 and recently widowed, has lived in her home for 25 years and has no plans to move. To obtain present tax relief without altering her lifestyle, she gives her home to BGCSCC while retaining the right to live in the home for life.

At the time of the gift, the residence is appraised at $250,000. This gift arrangement will provide a charitable income-tax deduction of more than $179,000 (the value of the charity’s remainder interest). Since Sarah’s tax bracket is 28%, her total tax savings will be over $50,000 (28% of $179,000). This is the amount by which her income tax will be reduced over the period she reports the deduction.

In the event she decides to move, she will have several options: rent the property, give her life interest in the home to BGCSCC in exchange for a stream of payments for life, or simply give her life interest outright and receive another deduction.

DISCLAIMER

The discussion herein is general in nature and may not apply to all individuals. Prospective donors are urged to consult their personal tax and financial advisors concerning the specific consequences of making gifts to BGCSCC. We would be pleased to discuss, in confidence, ways in which you may support BGCSCC. These measures may also have an impact on your estate planning.