Provide for Your Family + Boys and Girls Clubs of East County Foundation
Hopefully, you’ve had a chance to review your estate plans this spring and are ready to make any necessary adjustments. If you are like most individuals, you have probably been preparing and adding to your retirement savings throughout your career. Isn’t it satisfying to know that the focal point of your financial planning can also be used to make meaningful charitable gifts?
Make gifts through your IRA
Now is a great time to consider ways of giving that coincide with increases in the value of your assets. If you are 70½ or older, you can give directly from an IRA to Boys and Girls Clubs of East County Foundation (BGCEC Foundation) through a qualified charitable distribution (QCD). You can transfer any amount up to $108,000 this year, free of tax. QCDs can satisfy part or all of any required minimum distributions. Please note that the benefits of a QCD are adjusted for those who also make deductible IRA contributions. Contact us if you’re planning an IRA gift to ensure you are provided with the necessary acknowledgment.
Consider these options to “blend” your gifts:
• Make QCDs over time to satisfy pledge payments or other commitments.
• Contribute a substantial gift to your donor advised fund (DAF) to enjoy itemizing
on your taxes next April (and possibly in future years) and request distributions to
BGCEC Foundation today and over time.
• Arrange for BGCEC Foundation to receive what remains in your DAF after your lifetime.
• Name BGCEC Foundation as a beneficiary of your retirement plan to simplify
matters for your loved ones (retirement plan assets are heavily taxed if left to
family members).
• Designate a bequest to us in your will or living trust. You can leave the residue, a
percentage or a specific amount.
Act now
Visit https://bgcec.org/foundation/or email Samantha Olsen Gonzalez at Sam@bgcec.org for more information about blending your gifts today; thank you!