Leave a Legacy
A planned gift to Boys and Girls Clubs of East County is a way to craft a legacy that positively impacts East San Diego County’s children for generations.
Donors make planned gifts to BGCEC Foundation for a variety of reasons. They may wish to support a program about which they are passionate, such as the Scholarship Fund for Families in Need or add to the organization’s endowment to sustain ongoing operations. Regardless of the donor’s objectives, through a planned gift they can be intentional about the legacy they leave.
Ways to Give
There are many ways to make a planned gift to BGCEC Foundation in support of East County San Diego’s kids. Below we have outlined the most common options. If you are considering a legacy gift we would be happy to arrange a confidential gift planning consultation, without obligation. If BGCEC Foundation is already included in your estate plans please let us know so we can invite you to join our Legacy Society. Please contact Samantha Olsen Gonzalez at firstname.lastname@example.org or 619-440-1600.
Our official name is: Boys and Girls Clubs of East County Foundation, Inc.
Address: 8820 Tamberly Way, Santee, CA 92071
Phone: (619) 440-1600
Tax identification number: 23-7357173
BEQUEST THROUGH WILL OR TRUST
A simple way to make a planned gift is by designating assets to BGCEC Foundation in your will or living trust. Bequests can take a variety of forms:
General bequest: Gift of a dollar amount or % of assets of the estate.
Specific bequest: Gift of a designated asset or property.
Residual bequest: After all debts, expenses and specific bequests have been paid BGCEC receives a specific dollar amount or a % of the remainder.
Contingent bequest: BGCEC becomes a full or partial beneficiary if certain conditions are met, generally family or friends predeceasing the donor.
Sample Bequest Language
GIFT OF RETIREMENT ASSETS
Many donors choose to make BGCEC Foundation a beneficiary of their retirement plans, such as an IRA, 401(k) 403(b). BGCEC Foundation may be designated as the primary, partial or contingent beneficiary. The gift is easy to make or modify, through the beneficiary designation form provided by the retirement plan administrator. Gifts of tax-deferred assets avoid the deferred income tax obligation and qualify for a charitable deduction.
GIFT OF DESIGNATED FINANCIAL ACCOUNT
BGCEC Foundation can be named as a beneficiary of a non-retirement financial account by establishing a transfer at death designation. Assets are transferred directly to BGCEC Foundation and avoid probate.
GIFT OF LIFE INSURANCE ASSETS
BGCEC Foundation can receive proceeds from a life insurance policy through a variety of gift techniques. Gifts may be revocable or irrevocable and can be affected through a Change of Beneficiary form obtained from one’s insurance provider.
Trusts that benefit BGCEC Foundation can be established either during a donor’s lifetime or at the time of death. Often these trusts are used to reduce gift and estate taxes and provide income to beneficiaries. Below are two common options:
Charitable Remainder Trust: A CRT creates current income for beneficiaries and an income tax deduction for the donor. When the trust ends, principal passes to BGCEC Foundation.
Charitable Lead Trust: Through a CLT, BGCEC Foundation receives income from the trust for a specified period and principal passes to heirs upon trust termination.
*Useful Information for Advisors*
BGCEC Foundation does not provide legal or tax advice. The information herein is intended for education purposes only and should not be considered legal, tax, financial or other professional advice. BGCEC Foundation recommends that you seek you own legal, tax, financial and other necessary advice in connection with gift planning matters. To ensure compliance with IRS requirements, BGCEC discloses to you that this communication (including any attachments) is not intended or written to be used, and cannot be used, for the purpose of avoiding tax-related penalties.