Planned Giving to the YMCA
The YMCA Heritage Society: Ensuring a strong and viable YMCA for future generations
The YMCA Heritage Society is a special group of people who have shown their long-term interest and support of the Southington-Cheshire Community YMCAs by developing a plan for direct contribution to the Endowment Fund, a gift through a life insurance policy or by including the YMCA in their estate plans.
You can become a member of the YMCA Heritage Society by:
- Providing an outright gift to the YMCA Endowment Fund of cash, securities, property, stocks or other marketable assets.
- Creating a trust fund, annuity trust, gift annuity, pooled income fund, short-term trust or other life estate program.
- Naming the Southington-Cheshire Community YMCAs as the eventual recipient of a life insurance policy.
- Naming the Southington-Cheshire Community YMCA to receive a bequest in your will.
Legacy Giving: Cornelia Sloper Neal showed extraordinary generosity when she designated in her last will and testament that the farmland that is now the site of YMCA Camp Sloper be given to the YMCA in 1949. This type of foresight was unprecedented at the time and has helped to improve the lives of thousands and thousands of children, teens and staff members who have experienced the magic of YMCA Camp Sloper for over 70 years now. Are you interested in leaving a similar legacy gift to the YMCA?
Here are a few examples of legacy gifts:
Beneficiary Designations and Wills
Jack and Sally have treasured the experiences their family has had over the years at the YMCA. Their children took swim classes at the Y and attended YMCA Camp Sloper. Jack and Sally have been regular fixtures in the health and wellness center of the Y for years. Now that their kids are grown, Jack and Sally changed their estate plan so it could work harder for the people and causes they love. The couple identified the YMCA as the primary beneficiary of a $25,000 IRA to be transferred after the first passing. If they had left the IRA to their children, approximately $6,250 would have gone to pay federal income taxes - leaving only $18,750 for their family's use. Jack and Sally also identified the YMCA as a participant in each of their wills, directing that $20,000 in cash be directed toward Camp Sloper needs after their passing. The couple is happy knowing they are going to make a significant difference with their updated estate plan.
Life insurance
Frank has been a YMCA member for 35 years. He has an existing life insurance policy, and was interested in carving out a portion of the death benefit proceeds to give to the YMCA.
He simply contacted his life insurer and asked them to make the YMCA one of the primary beneficiaries of his policy. He directed the insurer to identify the YMCA as a 10% recipient of the $100,000 death benefit. This $10,000 amount would go directly to the YMCA, tax-free, after his passing. The remainder ($90,000) would be shared by his 3 daughters who are also primary beneficiaries of the policy.
Have questions? Want to schedule a confidential meeting with the YMCA CEO to discuss your legacy plans?
- Contact Mark Pooler, CEO, at 860-426-9508 or mpooler@sccymca.org for additional information on planned gifts and the YMCA Heritage Society to help support the YMCA and our mission for the future.
- Talk to your financial or legal advisor to learn which assets will or will not trigger taxable income when paid to a beneficiary.
- If you name the YMCA in your plans, please use our legal name and Federal Tax ID.
Legal Name: The Southington-Cheshire Community YMCAs Inc.
Address: 29 High Street, Southington, CT 06489
Federal Tax ID Number: 06-0646905
The Southington-Cheshire Community YMCAs is highly rated by Charity Navigator, a private organization that rates the effectiveness of charities across the country with their “Encompass” rating system. Our Encompass score is 100/100! Visit the Charity Navigator rating page here: https://www.charitynavigator.org/ein/060646905