ENSURE A BRIGHTER FUTURE
The Heritage Club is a symbol of faith in the future of the Wilkes-Barre Family YMCA. The Heritage Club is a special group of men and women who believe in the purposes and traditions of the YMCA, have felt and seen the tremendous impact of the YMCA on people and have shown their long-term interest and support.
You are invited to join a special group of men and women.
- Who may want to recognize through a gift, the important contribution the YMCA has made to their life.
- Who want the Wilkes-Barre Family YMCA to continue working to develop sound values of caring, honesty, respect & responsibility through programs and services that advance spiritual, mental and physical growth.
- Who want to invest in the future of the children in the Wyoming Valley.
- Who want to make a lifetime “statement” of conviction that the YMCA provides a necessary and beneficial influence upon the social and economic well-being of our community.
- Who want to provide a cornerstone of support for the future physical and operational needs of the Wilkes-Barre Family YMCA.
The most immediate infusion of assets to the YMCA will be in the form of outright gifts.
You may decide to make a direct gift of cash or securities to the Y’s Endowment Fund. Annual gift payments on pledges to a campaign may be extended over a five-year period.
In appropriate years, this means of providing charitable gifts may be advantageous for an individual because of personal tax circumstances.
For many, the joy of making a gift is enhanced by establishing a named endowment fund; the income from which will be used in perpetuity to support the programs and services of the YMCA.
One of the simplest ways to make a long-term significant gift to the future of the YMCA is to name the Y as a charitable beneficiary of your life insurance policy which is no longer needed for the reason it was purchased.
Another way to make a gift of insurance is to take out a new policy, naming the YMCA as beneficiary or co-beneficiary. Many individuals have found this to be a convenient way to make a special gift “on the installment plan.”
The value of the policy (essentially the cash surrender value) when contributed irrevocably, and any premiums subsequently paid by the donor, all qualify as charitable gifts for federal income tax purposes.
A will is central to any well-planned estate. And the will can be a key to the YMCA’s long-term financial security. While personal and family obligations should always come first, we ask you to consider making one of a number of types of bequest provisions as follows.
- SPECIFIC BEQUEST – That a specific item of property be given to the YMCA.
- GENERAL BEQUEST – That a portion of the estate or a specific amount of cash be given to the YMCA.
- RESIDUAL BEQUEST – That all or a portion of the estate after specific and general bequests are distributed (for example, to family members, etc.) will be given to the YMCA
- CONTINGENT BEQUEST – That all or a portion of the estate be given to the YMCA if the donor’s primary intentions cannot be met.
- DEVISE – That real property (i.e., real estate)
Remember that a will is a living document and simply reflects how you would like your property distributed at death. A will can be changed, altered or amended at any time. A change in beneficiaries or financial circumstances, the birth of children or grandchildren, or other events can easily be accommodated by a codicil (an amendment) to your will.
COMMUNITY FOUNDATION FUND
Many community minded donors may wish to support the YMCA or a number of non-profit organizations. They may establish a donor advised fund, designated fund or even a field-of-interest fund at the Luzerne Foundation or another community foundation to support important causes during their life and after their death. These endowment funds are intended to provide community support into perpetuity.
Also, the Y can benefit from a planned estate gift made through the Luzerne Foundation. For example, Charitable Remainder Trusts and/or Gift Annuities will pay you (or others you may name as income beneficiaries) an annual income for life. Upon the death of the last remaining income beneficiary, the principle associated with your gift goes into an endowment fund at the Luzerne Foundation to support the Y into perpetuity.
There are many income and tax benefits associated with these types of gifts. A planned estate gift is, in a very real sense, a “gift” that give back forever!
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