|
|
|
|
 Charitable Giving No matter how much you give to a charitable organization, the simple act of making a donation is deeply gratifying. Your generosity can be realized through countless organizations and methods that will leave a lasting legacy of charitable giving. The Badger Boys State Alumni Association, as part of Badger Boys State, Inc., is a nonprofit organization whose mission is to promote, encourage and support the Wisconsin American Legion Badger Boys State program. We appreciate your consideration of Badger Boys State. Mail a Gift Provide a donation to the Badger Boys State Alumni Association by mailing a check payable to Badger Boys State Alumni Association to: Badger Boys State Alumni Association 140 N Park Blvd Brookfield, WI 53005 Estates Estates of less than $1 million currently are not subject to the federal estate tax. However, if your estate is over that amount or will be subject to tax because of lifetime taxable gifts you have made, charitable bequests may avoid or greatly reduce tax. Any amount passing to the Association under your will entitles your estate to an estate tax charitable deduction for the fair market value of the property. Planning Bequests to the Association It makes sense to continue, through your will, the support you have provided to the Association. You can't make a bequest to the Association, or anyone else, unless you have a will. If you do have a will, review it periodically to make sure it still reflects how you wish your estate to be distributed. If your will does not, you may need to amend it through a codicil or have an entirely new will written. You can add charitable bequests when you make or amend your will. If you don't have a will, please make an appointment with your attorney to have one prepared. Outright Bequest This is a gift of a particular amount of money or item of property, e.g., "I bequeath $25,000 to the Badger Boys State Alumni Association." Residuary Bequest The residue of an estate is the amount remaining after all specific bequests have been distributed. The exact amount will not be known until the final accounting is completed. The residue may pass as a percentage bequest, e.g., "I give one third of the residue of my estate to the Badger Boys State Alumni Association." Contingent Bequests You can name a secondary beneficiary to receive property in the event the primary beneficiary is not alive, e.g., "I bequeath $10,000 to my father, but if he has predeceased me, I direct the $10,000 be paid to the Badger Boys State Alumni Association." Stocks and Mutual Funds If you have owned a stock, mutual fund or other security for more than a year, you may be able to donate it to the Association and take a tax deduction for its full market value. Trusts An excellent giving tool where through the establishment of an irrevocable trusts, the Association can be designated to receive annual payout from the trust. Additionally, a trust can be created that maintains annual payments to an individual and at the termination of the trust the balance can be designated to a charity. Life Insurance Life insurance policy donations can be made by naming the charity as the beneficiary of the policy. Usually, "whole-life" and "universal-life" policies are donated as these policies have current cash value. However, any life insurance policy can name the Association as the beneficiary. Additional Information If you would like more information on planned giving, please contact the Association via our feedback form. The Badger Boys State Alumni Association is committed to providing the most accurate information possible and this webpage is designed to provide suggestions for charitable giving. The Association is always willing to consider creative donations. Additionally, the Association recommends you consult with an attorney to discuss what charitable giving strategies may best serve your objectives. |
|
|
Badger Boys State Alumni Association - © 2006-2008
Send us your feedback. |
