Our goal is to help you leave a legacy in a way that benefits you, your family and young people in our community now and for years to come. Your support through a planned gift will ensure that future generations who walk through the Club doors will have opportunities to be guided, to be empowered, and to participate in programs to help them grow into healthy, caring, responsible adults.
There are several ways you can leave a legacy through planned giving to the Boys & Girls Club of Freeport & Stephenson County and enjoy tax and income benefits. Here are some giving options that you might consider.
You designate the Boys & Girls Club of Freeport & Stephenson County as a beneficiary of your asset by will, trust or other instrument. Bequests allow you to retain control of your assets during your lifetime. A bequest can be tailored to almost any set of circumstances, and it provides an unlimited deduction for estate tax purposes.
CHARITABLE REMAINDER TRUST
An income-producing gift, such as a gift annuity or charitable remainder trust, enables you to generate a current income tax deduction while providing yourself or a loved one with a secure source of income for life or a period of years. When funded with appreciated assets, it can also help you increase your income while avoiding capital gains taxes.
CHARITABLE LEAD TRUST
A lead trust enables you to transfer wealth to family while reducing or eliminating estate and gift taxes. Trust assets are removed from the taxable estate, and growth in value passes tax-free to heirs. You postpone the transfer until heirs are more mature. Payment of trust income to the Boys & Girls Club of Freeport & Stephenson County for a term of years creates a charitable legacy with funds that are otherwise destined for the IRS.
A gift of a life insurance policy, or simply naming the Boys & Girls Club of Freeport & Stephenson County as a beneficiary of your bank account, allows you to make a major gift for a modest cost. Many donors use insurance gifts to receive a current tax deduction while disposing of an old policy that is no longer needed. Other donors purchase a new policy, donate it to the Boys & Girls Club, and make an annual gift to cover premiums.
By designating the Boys & Girls Club of Freeport & Stephenson County as the beneficiary of all or a percentage of your IRA or any other qualified retirement account such as a 401(k), 403(b) or pension account, you can make a substantial gift while avoiding income and estate taxes that may consume as much as two-thirds of the account balance.
ARTWORK & OTHER PERSONAL PROPERTY
You may receive gift credit and an immediate charitable income tax deduction, typically for the appraised value of your gift. Your charitable deduction equals the full value of your gift as long as it is used to further our charitable mission.
A gift of cash is one of the simplest donations, and it maximizes your charitable deduction while providing immediate benefits to the Boys & Girls Club of Freeport & Stephenson County. Gifts of cash include currency, personal checks, money orders, credit cards and wire transfers.