Wednesday, March 10, 2010
Ways to Help    
Ways to Help

Because the Salesian Boys' and Girls' Club only charges $10.00 a year, the Club must raise its annual budget through various fundraising endeavors.

Parents of children are invited to support the Club through Associate Memberships, Memorial Contributions, Planned Giving or Endowment Gifts, or Participation in the Club's annual fundraising endeavors.

All donations are tax deductible by the amount allowable by law.

WHAT IS PLANNED GIVING?

"Planned giving" is a term commonly used to describe a wide variety of giving vehicles that allow you to give to charity during your lifetime and/or after your death, while meeting your current income needs and providing for your heirs. Planned giving is typically done in conjunction with estate planning, and is a viable option for donors of all income levels.

From a donor's perspective, planned giving is attractive for many reasons. It may allow you to make larger gifts than you otherwise could out of your current assets. Depending on how a planned gift is set up, it may also let you receive a stream of income for life, earn higher investment yield, or reduce your capital gains or estate taxes. Planned gifts often appeal to people who want to benefit a charitable organization but aren't certain how much of their assets they?ll need for themselves during their lifetimes.

 


PLANNED GIVING PROGRAM PLANNED GIVING OPTIONS WHAT'S THE NEXT STEP FAQS 

Planned Giving Program

 

PLANNING YOUR ESTATE

For you. . .
   Your family. . .
      And your favorite charity.

NOW is the time to review your charitable gift planning.

Available only in 2009:

For those that are 70 1/2 years old you can make pre-2010 distributions ( trustee transfer not to exceed $100,000) from your individual retirement account (IRA) to the Salesian Boys’ and Girls’ Club.  The transfer will be excluded from your gross income and therefore lower your adjusted gross income, which may save you income taxes.

Items to consider for 2009 and 2010:

Time is running short for 2009 but some of the less complex strategies can still be implemented.  For example, would you like to know how much more in appreciated stock you could give for the same after-tax cost of giving cash?

The year 2010 will be a beneficial year to do charitable planning because:

  • tax rates are likely to be higher (therefore deductions will be worth more)
  • interest rates will still be low, which favors some planning techniques
  • it is beneficial to marry charitable gift planning with retirement plans and individual retirement accounts.  For example, if you do a conversion of some of your traditional IRA accounts to Roth IRA accounts you can shelter the income with charitable contribution deductions.

 

There are some questions that you should consider:

Would you prefer to donate a current income interest in property while reserving the remainder interest for non-charitable beneficiaries, i.e., children and grandchildren?

Would you prefer to retain a current income interest while designating the Salesian Boys’ and Girls’ club the remainder interest?

Have you considered the charitable contribution of an undivided interest in property or a remainder interest in your personal residence?

Are you aware of the tax benefits of lifetime contributions versus contributions taking effect at death?

We have advisors who are ready to work with you and your advisors to answer these and many other questions that you may have.

We look forward to hearing from you and helping you meet your charitable gift giving goals.
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