A lasting difference

Because of the generosity of individuals like you, Boys & Girls Aid continues to serve children and families throughout Oregon and Washington. When you include Boys & Girls Aid in your estate plans, you help ensure that all children will find a forever family and we are confident, this love and support shared will change the world we live in for the better.

If you want to extend your support through your estate, or a gift that provides income during your lifetime, there are many gift options. We can help you find a plan that meets your needs and benefits tomorrow’s children by strengthening Boys & Girls Aid service long into the future.

Through gift planning, you can choose a method of giving that protects your family’s needs and offers greater tax savings. Here are a few ways you can support Boys & Girls Aid.

  • A gift in your will. You may find the flexibility of naming Boys & Girls Aid in your will or living trust appealing because you can change your mind at any time. By leaving a percentage of your estate to Boys & Girls Aid, gifts to family members and other loved ones remain proportional no matter how your estate fluctuates over the years.
  • Charitable gift annuity. Charitable gift annuities are a strong gift option. Contact us to learn more about this way to give.
  • Retirement plan assets. Because retirement plan assets can be heavily taxed when left to family, it can be tax-savvy to leave these assets to charity through beneficiary designations.
  • Life insurance. Life insurance is a simple way to make a big impact. You can leave all or a portion of your life insurance policy to Boys & Girls Aid.

Life insurance is an excellent tool for making charitable gifts for a number of reasons. Life insurance provides an "amplified" gift that enables you to purchase immortality on an installment plan. Through a relatively small annual cost (the premium), a benefit far in excess of what would otherwise be possible can be provided for charity. This sizeable gift can be made without impairing or diluting the control of a family business or other investments. Assets earmarked for family members can be kept intact.

For example, a 50-year old committed to giving $5,000 annually for 10 years could leverage the $50,000 gift into a $360,000 gift. A second-to-die, or survivor life policy, adds even more leverage. A 50-year old couple could make a gift of $800,000 with the same $5,000 annual commitment. (Assumes 50-year old(s), preferred non-smoker(s) using variable life policy earning 10% gross return.)

Keep in mind that using a traditional permanent life insurance contract will generally yield a 6% to 7% internal rate of return to life expectancy on premiums paid.

Life insurance can be a self-completing gift. For a donor committed to making annual gifts, a portion of the annual gift can be directed to an insurance policy guaranteeing the continuation of that gift in perpetuity. If the donor becomes disabled, the policy can remain in force through the "waiver of premium" feature (if elected). This guarantees the ultimate death benefit to the charity and, in some cases, the same cash values and dividend build-up that would have been earned had disability not occurred. Even if the donor dies after only a few premium payments, the charity is assured a full gift. The death proceeds can be received by the designated charity, free of federal income and estate taxes, probate, and administrative costs, and without any delay, fees, or transfer costs.

Large gifts to charity are less subject to attack by heirs because of the contractual nature of the life insurance policy. The death benefit is guaranteed as long as premiums are paid. This means that the charity will receive an amount that is fixed (or perhaps increasing) in value, and not subject to the potential downside of volatile market risks as in securities.

How to Give

Contact Suzan Huntington at 503.542.2304or Shuntington@Boys & Girls Aid.org to find a gift that best fits your situation.

* The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in examples are for hypothetical purposes only and are subject to change. References to estate and income taxes include federal taxes only. State income/estate taxes or state law may impact your results.

 
 

 
 

Wills and Living Trusts

When you include Boys & Girls Aid in your will or trust, you make a powerful commitment to ensuring that children will find their forever family and will stop the cycle of foster care and homelessness. A charitable bequest is a simple, flexible and easy way to support Boys & Girls Aid for generations to come.

A charitable bequest is a written statement in a will which directs that a gift be made to Boys & Girls Aid upon the death of the person who made the will.  a specific item, an amount of money, a gift contingent upon certain events or a percentage of your estate can be included in your bequest.

Gifts may be for a specific dollar amount, a percentage of the total estate, or the residue remaining after all debts, taxes, expenses and other bequests have been paid.  A specific bequest of property such as art, other personal property or real estate may also be made.  Because the needs of children and youth change over time, the unrestricted bequest is especially appreciated and beneficial.  It will be applied where the need is greatest.

Just one sentence of bequest language is all that is needed to complete your gift. Your gift also entitles your estate to an unlimited federal estate tax charitable deduction.

 
 

Bequests Language

“I give to Boys & Girls Aid, whose current legal address is 018 SW Boundary Court, Portland, OR 97239 the sum of $___________ (or specifically describe property or percentage of estate or residual), to be used for its general charitable purposes as the Board of Directors of Boys & Girls Aid shall determine.”

A remainder bequest:

“I give to Boys & Girls Aid, whose current legal address is 018 SW Boundary Court, Portland, OR 97239 the residue and reminder of my estate, to be used for its general charitable purposes as the Board of Directors of Boys & Girls Aid shall determine.”

NOTE: The Internal Revenue Service recognizes Boys & Girls Aid as a tax-deductible, 501(c) 3 non-profit organization. Our tax identification number is 93-0386791.

If you are interested in designating your gift for a specific purpose, please contact Suzan Huntington, President & CEO, for more information at 503.542.2304 or Shuntington@Boys & Girls Aid.org.

 

Boys & Girls Aid appreciates notification of all planned bequests and would like to list your name in our Frank E. Beach Legacy Society. Your listing will stimulate others to consider planned gifts.  Additionally, notification makes it possible for us to better plan to meet the needs of children and youth, to honor the donors if they wish, and to ensure that their wishes for use of the gift are respected.  If you are planning a restricted gift, we ask that you first contact Suzan Huntington, President & CEO at 503.542.2304. 

 
 

 
 

Retirement Plan Gifts and Beneficiary Designations

You can support Boys &Girls Aid by simply adding Boys & Girls Aid as a beneficiary on your IRA or other retirement plan. It is the easiest way to ensure that Boys & Girls Aid is accessible for Oregon’s children and families. You can also add Boys & Girls Aid as a beneficiary to your life insurance policy or commercial annuity too.

Designation is simple. You get a copy of your beneficiary designation form from your plan administrator and update the beneficiary list to include a percentage or a specific amount to Boys & Girls Aid. You can update the form at any time giving you flexibility if your financial situation changes.

Potential Scenario

Mike and Theresa feel blessed to offer the financial help they've been able to give their children and Boys & Girls Aid over the years. Now, empty nesters, Mike and Theresa changed their estate plan so it could work harder for the people and causes they love. They updated their will to leave real estate and stocks to their children and grandchildren. And they left Boys & Girls Aid a $25,000 IRA to be transferred after their death. Because Boys & Girls Aid is tax-exempt, all $25,000 will help support our work of ensuring every child has a family.

If Mike and Theresa had left the IRA to their children, approximately $7,000* would have gone to pay federal income taxes—leaving only $18,000 for their family's use. Mike and Theresa are happy knowing they are making the most of their investments.

*Based on an assumption of a 28 percent marginal income tax bracket.

Next Steps

  1. Contact Suzan Huntington at 503.542.2304 or Shuntington@Boys & Girls Aid.org for additional information on beneficiary designations and how they can help support Boys & Girls Aid.
  2. Talk to your financial or legal advisor to learn which assets will or will not trigger taxable income when paid to a beneficiary.
  3. If you name Boys & Girls Aid in your plans, please use our legal name and federal tax ID.

Legal Name: Boys & Girls Aid
Address: 018 SW Boundary Court, Portland, OR 97219
Federal Tax ID Number: 93-0386791

The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax adviser. Figures cited in examples are for hypothetical purposes only and are subject to change. References to estate and income taxes include federal taxes only. State income/estate taxes or state law may impact your results.

 
 

 
 

Charitable Gift Annuities

You can increase your income, reduce your taxes paid and ensure the Boys & Girls Aid programming and services you value will be there for generations to come with the Boys & Girls Aid charitable gift annuity.

A charitable gift annuity involves a simple contract between you and Boys & Girls Aid where you agree to make a gift to Boys & Girls Aid and we, in return, agree to pay you (and someone else, if you choose) a fixed amount each year for the rest of your life.

The charitable gift annuity is a good way to make great things happen.

If you are 65 years or older and make a gift of $10,000 more, you’ll receive a fixed lifetime income and a charitable tax deduction in the year you make the gift. Your annual payment is also partially tax-free. You can fund the gift annuity with cash or appreciated securities. More importantly, your gift ultimately benefits the work of Boys & Girls Aid.

How It Works

Brad, 66, and Joli, 65, want to make a contribution to Boys & Girls Aid that will support the work for generations to come, but they also want to ensure that they have dependable income during their retirement years. They establish a $20,000 charitable gift annuity with Boys & Girls Aid. Based on their ages, they will receive a payment rate of 4.3 percent, which means that they will receive $860 each year for the remainder of their lives. They're also eligible for a federal income tax charitable deduction of $5,544* when they itemize. Finally, they know that after their lifetimes, the remaining amount will be used to support Boys & Girls Aid.

*Based on annual payments and a 2.4 percent charitable midterm federal rate. Deductions vary based on income earned.

How to Fund It

You can use the following assets to fund a charitable gift annuity:

  • Cash
  • Appreciated Securities
    • Securities and mutual funds that have increased in value and been held for more than one year are one of the most popular assets to use when making a planned gift. Making a gift of securities or mutual funds offers you the chance to support a charity while realizing important benefits for yourself.
    • When you donate appreciated securities or mutual funds you have held more than one year, you can reduce or even eliminate federal capital gains taxes on the transfer. You are also entitled to a federal income tax charitable deduction based on the fair market value of the securities at the time of the transfer.
  • Tangible Personal Property
    • Your treasures like valuable antiques, stamp and coin collections, works of art, cars, boats, and other personal property can make suitable charitable gifts today or after your lifetime. The financial benefits of the gift depend on whether the charity can use the property in a way that is related to the mission.
    • If the federal income tax charitable deduction claimed for a gift of tangible personal property exceeds $5,000, you must obtain an appraisal from a qualified appraiser and submit a special IRS form with the tax return on which the deduction is claimed.

Next Steps

  1. Contact Suzan Huntington at 503.542.2304 or Shuntington@Boys & Girls Aid.org for additional information on beneficiary designations and how they can help support Boys & Girls Aid.
  2. Talk to your financial or legal advisor to learn which assets will or will not trigger taxable income when paid to a beneficiary.
  3. If you name Boys & Girls Aid in your plans, please use our legal name and federal tax ID.

Legal Name: Boys & Girls Aid
Address: 018 SW Boundary Court, Portland, OR 97219
Federal Tax ID Number: 93-0386791

 
 

 
 

Charitable Remainder Trusts

A charitable reminder trusts is a great way to support Boys & Girls Aid, receive an income for yourself or your heirs, and it offers considerable tax advantages for highly appreciated assets.

Benefits of a charitable remainder trust include:

  • A partial charitable income tax deduction
  • Potential for increased income
  • Up-front capital gains tax avoidance

There are two ways to receive payments with charitable remainder trusts:

  1. The annuity trust pays you, each year, the same dollar amount you choose at the start. Your payments stay the same, regardless of fluctuations in trust investments. You are not able to add more money to the annuity trust.
    The unitrust pays you, each year, a variable amount based on a fixed percentage of the fair market value of the trust assets. The amount of your payments is redetermined annually. You are able to add money to the unitrust. If the value of the trust increases, so do your payments. If the value decreases, however, so will your payments.

How It Works

Bonnie, 74, wants to make a gift to Boys & Girls Aid but would also like more income in the future. Bonnie creates a charitable remainder unitrust with annual lifetime payments to her equal to 6 percent of the fair market value of the trust assets as revalued annually. She funds the trust with assets valued at $500,000.

Bonnie receives $30,000 the first year from the trust. Subsequent payment amounts vary each year depending on the annual valuations of the trust assets. She is eligible for a federal income tax charitable deduction of $275,725* in the year she creates and funds the trust. This deduction saves Bonnie $90,989 in her 33 percent tax bracket.

*Based on annual payments and a 2.4 percent charitable midterm federal rate. Deductions vary based on income earned.

You can use the following assets to fund a charitable remainder annuity trust or unitrust:

  • Cash
  • Appreciated Securities
    • Securities and mutual funds that have increased in value and been held for more than one year are one of the most popular assets to use when making a planned gift. Making a gift of securities or mutual funds offers you the chance to support a charity while realizing important benefits for yourself.
    • When you donate appreciated securities or mutual funds you have held more than one year, you can reduce or even eliminate federal capital gains taxes on the transfer. You are also entitled to a federal income tax charitable deduction based on the fair market value of the securities at the time of the transfer.
  • Tangible Personal Property
    • `Your treasures like valuable antiques, stamp and coin collections, works of art, cars, boats, and other personal property can make suitable charitable gifts today or after your lifetime. The financial benefits of the gift depend on whether the charity can use the property in a way that is related to the mission.
    • If the federal income tax charitable deduction claimed for a gift of tangible personal property exceeds $5,000, you must obtain an appraisal from a qualified appraiser and submit a special IRS form with the tax return on which the deduction is claimed.

Next Steps

  1. Contact Suzan Huntington at 503.542.2304 or Shuntington@Boys & Girls Aid.org for additional information on beneficiary designations and how they can help support Boys & Girls Aid.
  2. Talk to your financial or legal adviser to learn which assets will or will not trigger taxable income when paid to a beneficiary.
  3. If you name Boys & Girls Aid in your plans, please use our legal name and federal tax ID.

Legal Name: Boys & Girls Aid
Address: 018 SW Boundary Court, Portland, OR 97219
Federal Tax ID Number: 93-0386791

 
 

 
 

IRA Charitable Rollover

If you are 70½ years old or older, you can take advantage of a rollover to benefit Boys & Girls Aid and receive tax benefits in return. You can give up to $100,000 from your IRA directly to a qualified charity without having to pay income taxes on the money.

This law no longer has an expiration date so you are free to make annual gifts to a qualified organization this year and well into the future.

Why is this gift right for you?

  • All donations will be put to use today, allowing you to see the difference your donation is making.
  • You pay no income taxes on the gift. The transfer generates neither taxable income nor a tax deduction, so you benefit even if you do not itemize your deductions.
  • If you have not yet taken your required minimum distribution for the year, your IRA charitable rollover gift can satisfy all or part of that requirement.

Frequently Asked Questions

Q. I've already named Boys & Girls Aid as the beneficiary of my IRA. What are the benefits if I make a gift now instead of after my lifetime?
A. By making a gift this year of up to $100,000 from your IRA, you can see your philanthropic dollars at work. You can also fulfill any outstanding pledge you may have made by transferring that amount from your IRA as long as it is $100,000 or less for the year.

Q. I have several retirement accounts—some are pensions and some are IRAs. Does it matter which retirement account I use?
A. Yes. Direct rollovers to a qualified charity can be made only from an IRA. Under certain circumstances, however, you may be able to roll assets from a pension, profit sharing, 401(k) or 403(b) plan into an IRA and then make the transfer from the IRA directly to Boys & Girls Aid. To determine if a rollover to an IRA is available for your plan, speak with your plan administrator.

Q. I have two charities I want to support. Can I give to more than one charity from my IRA in one year?
A. Yes. Under the law, you can give a maximum of $100,000. For example, you can give each organization $50,000 this year or any other combination that totals $100,000 or less. Any amount of more than $100,000 in one year must be reported as taxable income.

Q. My spouse and I would like to give more than $100,000. How can we do that?
A. If you have a spouse (as defined by the IRS) who is 70½ or older and has an IRA, he or she can also give up to $100,000 from his or her IRA.

It is wise to consult with your tax professionals if you are contemplating a charitable gift under the extended law. Please feel free to contact Suzan Huntington at 503.542.2304 or Shuntington@Boys & Girls Aid.org with any questions you may have.

The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in examples are for hypothetical purposes only and are subject to change. References to estate and income taxes include federal taxes only. State income/estate taxes or state law may impact your results.