Becket, MA
February 05, 2012
Home > About Us > Make a Gift > Planned Giving
The Becket-Chimney Corners YMCA established its Heritage Club to honor those friends who, by including the YMCA in their financial and estate planning, have ensured our programs and services will positively impact the lives of future generations to come. A planned gift can also bring financial benefits to the donor and their family by reducing or eliminating estate taxes; converting low-yielding assets into a higher income stream at reduced capital gains cost; and producing significant income tax deductions.
Bequests
The YMCA receives a gift provided for in a donor's will. The gift may be a percentage of a donor's estate, a specific dollar amount, the residual of the estate, or a certain piece of personal property. The gift reduces estate tax obligations.
Life Insurance Policies
When the YMCA is named as the beneficiary and owner of a life insurance policy the donor receives an immediate charitable income tax deduction. If the policy is not paid up, this tax deduction is approximately the policy's present cash surrender value. If the donor chooses to continue paying the premiums, he/she will receive a charitable deduction(s) for the amount paid. The full face value of the policy is removed from the donor's taxable estate.
Retirement Plans
Individuals at least 70½ years of age are able to make tax-free gifts from IRA funds that would be subject to taxes if withdrawn voluntarily or withdrawn under mandatory requirements. Donors may choose to make charitable contributions in any amount up to $100,000 per year. Couples with separate IRAs can each give up to that amount.
Contact Brenda Marsian, Chief Development Officer at (413) 822-7950 or your financial adviser to design a plan that is uniquely tailored to meet your philanthropic objectives.
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748 Hamilton Road, Becket, MA 01223
Tel: (413) 623-8991 | Fax: (413) 623-5890