Heritage Club & Endowment
The YMCA Endowment Fund was established to guarantee the YMCA can continue its mission for future generations.
Managed by the Spartanburg County Foundation, proceeds from the principal can be used to enhance programs, grant scholarships, begin new programs or improve facilities. A committee of the Association Board of Directors has oversight responsibility for the management of these funds subject to approval of the entire board. This includes the fund’s preservation, growth and intended use. Accurate records are maintained on each individual fund designation to assure proper accounting of both principal and income. Gifts take many forms. In any form, the gift can be structured to provide financial security for the donor and his or her heirs while maximizing its impact for the Y.
As an integrated part of your overall financial plan, the benefits from your endowment gift can help secure your family’s future even as it perpetuates the work of the Y for generations to come.
Heritage Club Members:
Any donor who gives a meaningful gift to the YMCA Endowment Fund is considered a member of the YMCA Heritage Club.
Ways to Give:
Through YMCA Endowment Fund held at The Spartanburg County Foundation, you may contribute a variety of assets. You receive maximum tax advantages and are able to contribute during your lifetime or create a bequest in your will.
A gift of cash is the most popular way to give because of its simplicity. A cash gift of any size is always welcome. You may give online, by check or credit card.
You may give stock and receive a tax deduction for its full market value, thus avoiding tax on capital gains on appreciated stock.
You can name YMCA Endowment Fund as owner of a paid-up life insurance policy or take out a new policy. You will receive a charitable income tax deduction on the cash value of the policy, as well as the annual premiums.
Bequest by Will
You may transfer any asset you own through a written will to benefit YMCA Endowment Fund. Although you will not receive any tax benefits during your lifetime, your taxable estate will be reduced by the amount of the charitable bequest.
Charitable Remainder Trust
You may use many different assets to establish a Charitable Remainder Trust that will benefit you and/ or your heirs for life. The remaining interest in the trust could be earmarked for the YMCA Endowment Fund.
Charitable Lead Trust
A Charitable Lead Trust enables you to transfer assets to heirs with a lower tax burden. You may designate the YMCA Endowment Fund to receive the benefits from the trust for a specified period of time before the assets go to designated heirs.
Charitable Gift Annuity
A Charitable Gift Annuity enables you to transfer cash or marketable securities to The Spartanburg County Foundation for the ultimate benefit of the YMCA Endowment Fund. In return, you will receive fixed annual payments for life or a set period of time, and you will be entitled to a charitable income tax deduction in the year in which the gift annuity is created.
Many investors are beginning to realize that upon their death, unused IRA assets will be heavily taxed. In fact, it’s been estimated that estate and income taxes could consume anywhere from 60% to 80% of the money remaining in IRA assets. You can avoid income tax on retirement accounts, as well as estate tax, by naming the YMCA Endowment Fund through The Spartanburg County Foundation as a partial or full beneficiary of retirement accounts.
Charitable Beneficiary Designation
You can designate the YMCA Endowment Fund as a full or partial beneficiary of your qualified retirement plan using a form supplied by the policy underwriter or plan administrator. When you are no longer living, the benefit comes to the fund at The Spartanburg County Foundation, supporting local families forever. The benefit payment is generally excluded from your estate for tax purposes.
How To Give
You may contact Cassie Lloyd, Director of Mission Advancement at any time to discuss these and other giving options by calling 864-585-0306 ext. 103.
Please let us know if you have already made a provision for the Y in your estate plans and would like to be recognized as a YMCA Heritage Club member by contacting Cassie Lloyd, Director of Mission Advancement at 864-585-0306 ext. 103.
We hope you will give serious consideration to joining our Heritage Club and helping to ensure that the Y will continue to make a strong impact in the lives of community members for generations to come.