Other Forms of Planned Giving
There are many other ways to make a planned gift. These include:
Due to tax considerations, donors can often give more at no greater cost to themselves, by giving securities (stocks, bonds, etc.). Mutual fund shares can also be given with the same beneficial effect.
Bank Account or Certificate of Deposit
When you open a bank account or set up a CD, you can name the Boys & Girls Clubs of Durham and Orange Counties as a beneficiary. Your banking institution can provide a beneficiary designation form.
You may name the Boys & Girls Clubs of Durham and Orange Counties as the direct beneficiary of all or part of your life insurance policy, or as a co-beneficiary or contingent beneficiary. You may also donate your paid-up life insurance policy to the Boys & Girls Clubs of Durham and Orange Counties, or name us as a beneficiary of an annuity.
You may make a gift of real estate to the Boys & Girls Clubs of Durham and Orange Counties. The property is assessed at its full market value at the time it is given to the charity, and tax deductions are calculated based on property and interest value formulas.
You may designate the Boys & Girls Clubs of Durham and Orange Counties as the final beneficiary of a company pension or profit-sharing plan of a private fund (for example, an IRA or Keough), saving your estate both income and estate taxes.
Life Income Funds
It may be possible to plan a substantial gift to take effect later while receiving periodic payments of income from the assets that will eventually come to the Club. Charitable remainder trusts and pooled income funds are examples of these planned gifts.
These types of gifts can be made during your lifetime or planned for in your will. Due to the complexity of these giving mechanisms, we recommend consulting an attorney or qualified estate planner to determine the approach that best meets your needs and intent. Call Jerome Levisy, our Executive Director, at (919) 687-4517, ext. 20 to talk about making such a gift.