Endowment Funds: Leaving a Legacy for Scouting
Your Will and Charitable Interests
Statistics show that about 70 percent of the adults in this country do not have a valid will. Those without wills are passing up the chance to distribute their estate according to their wishes, rather than those of the state.
A will can provide many ways for you to benefit Monmouth Council, as well as your church, schools, and other worthy organizations. For example, you can leave your council a percentage of your estate after your family has been taken care of. Or you can designate that a specific amount, or piece of property, be given to the council. Memorial gifts, as well as charitable trusts that generate income for your surviving spouse and other family members are also commonly included in a properly drawn will.
Call the Council office at 732-536-2347 and ask for Lee Marconi and request more information about giving to Scouting through your will. There are many ways to make a significant gift to our council while also protecting your estate for your family and other organizations. Let us know how we can help.
BSA Pooled Income Fund
Many people choose a will as their principal vehicle for making charitable gifts. There are many advantages to this, but bequests do not provide you with either immediate income tax deductions or lifetime income in return for making a charitable gift to Scouting. A gift to the Pooled Income Fund, however, does.
By making a modest gift to the Pooled Income Fund - an initial gift of $5,000 in cash or stocks - your gift will be placed into a nation-wide pool of similar gifts to Scouting. These gifts are invested for maximum income, payable to you for life. At the end of your lifetime, or the lifetime of a surviving spouse, your gift is removed from the pooled fund and given to your local council. They will then place your gift into their endowment fund.
The BSA Pooled Income Fund is a great way to show the council that you care about its financial future. Call Lee Marconi at 732-536-2347 for more information on this and interesting way to benefit not just our council, but your family as well.
Monmouth Council James E. West Fellowship
James E. West was the first Chief Scout Executive of the Boy Scouts of America, and he served in that position for more than three decades. This fellowship recognizes individuals or organizations that contribute an initial unrestricted, outright gift of $1,000 or more in cash or marketable securities to the council endowment fund. The gift must be in addition to, and not replace or diminish, the donor's annual Friends of Scouting support. Many individuals and corporations make these gifts either on behalf of someone else, such as in honor of an Eagle Scout, Silver Beaver recipient, a retirement, a special accomplishment, or anniversary, or in memory of a special individual. If an institution is truly ?the lengthened shadow of one man, it is more than fitting that the BSA honor James E. West?s significant contribution to Scouting in such a significant way.
You are invited to become a James E. West Fellow or give the award in honor of or in memory of the person of your choice. Please contact Lee Marconi at 732-536-2347 if you have an Eagle Scout to recognize or if you have any questions. You can download the James E. West fellowship application by clicking here.
Your Retirement Can Be A Gift to Scouting
If you are like most individuals, you have given some thought to what you will do for retirement income. And again, like most individuals, you probably haven't thought about making a large gift to Scouting and generating retirement income at the same time. But you can!
A BSA retirement trust, a form of the popular charitable unitrust, can be created easily with cash, stocks, bonds, or land that you already own. You place the property into the trust and receive income and tax deductions usually based on the full fair market value of the property. If your gift was appreciated property, you also avoid capital gains tax. You decide who receives the income, the amount of income, when you want to start receiving the income, and how long the trust will last. When the trust ends, Monmouth` Council receives the trust property.
Of course, these trusts aren't limited to retirement income. They can be created at any time, for any reason. But contact Lee Marconi at 732-536-2347 for more information about the BSA retirement trust, and about how you, your family and MCBSA will all benefit. You'll see that these income trusts are a real gift to retirement planning.
James E. West 100 For 100