Thank you for your interest in Boys & Girls Club of Laguna Beach. Our hope is to serve you and your family with helpful information.
The Boys and Girls Club of Laguna Beach have estate planning and tax specialists that can assist you in your planning needs. Let us know if you would like to sit down and discuss with us. Here are just some ideas.
1. Give Tax Free From Your IRA Up to 100,000 a Year to the Boys & Girls Club.
IRA owners and beneficiaries who have reached age 70-1/2 are permitted to make cash donations totaling up to $100,000 to IRS-approved public charities directly out of their IRAs. You must be careful to have your IRA provider assist you in making the contribution directly from your IRA to the charity. You cannot receive the required minimum distribution and then send it to charity.
2. Consider a Donor Advised Fund and Donate Appreciated Stock to the Boys & Girls Club.
A Donor Advised Fund (DAF) is a charitable giving vehicle. It is a fund established by a donor at a tax-exempt public charity, known as a sponsoring organization, where the donor has the right to make recommendations to the sponsoring organization regarding grants made from the fund and investment of the fund's assets. They are easy to establish without the need for legal counsel. They are easy to operate. They require no annual federal or state tax filings or audits or annual board meetings. DAFs provide donors the ability to claim charitable income-tax deduction in the year they create and fund it.
Cash gifts to public charity: 50% of the individual’s contribution base for the tax year (essentially a 50% AGI limitation)
Gifts of long-term capital gain property to a public charity: 30% of the individual’s contribution base for the tax year (essentially a 30% AGI limitation)
Carryover: 5 years
3. Consider a Charitable Bequest
one of the easiest ways you can leave a lasting impact on Boys & Girls Clubs. A bequest may be made in your will or trust directing a gift to Boys & Girls Clubs. A bequest may be made in several ways:
Gift of a percentage of your estate.
Gift of a specific dollar amount or asset.
Gift from the balance or residue of your estate.
4. Consider a Charitable Lead Annuity Trust
A CLT gives the donor an income tax deduction in the year of the transfer and provides income to the donor’s favorite charities for a term of years but allows the donor to get their assets back at the end of the term. The donor places assets in trust but instead of the trust paying regular distributions to the beneficiary, the distributions are paid to the qualified charity for a term of years. At the end of the chosen term, the trust principal plus any accumulation is returned to the donor. CLTs are especially attractive for persons who have a large income in the year of the transfer and anticipate lower income in future years since they benefit from an income tax deduction in the high-income year. This is an excellent tool for giving to charity without permanently releasing title to the property transferred. The trust maker only gives up the right to use the trust income for a term of years and then ultimately gets it back.
If you would like more information or ready to take the next step. Please contact Michelle at (949) 715-7584
We have been experiencing a great deal of interest from friends of Boys & Girls Club of Laguna Beach in becoming members of The Heritage Club. These are individuals, like you, who are passionate about supporting all young people, especially those who need us most, to reach their full potential as productive, caring and responsible citizens. They have become members of The Heritage Club by making a planned gift. We invite you to explore the benefits of gift planning and to see how your gift might help save a child.