Planned Giving

Serving the Capital Area for more than 130 years

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Boys & Girls Clubs have been serving Albany and ​Rensselaer counties for over a century. The Albany Club first open in 1892, seven years prior to the arrival of the first automobile to city, in 1899. The Club in Troy, NY opened shortly after, in 1903. 

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In the many years since, Boys & Girls Clubs of the Capital Area has grown to meet the continuing needs and challenges of the community members who need us most. BGCCA is one of the few Clubs in the world to operate a UPK program with 26 classrooms in collaboration with the Albany School District. Due to the priority for food access, we have our own commercial grade kitchen in Troy, supplying over 200,000 meals to local youth every year. We facilitate the largest afterschool and teen programs in the area, providing safe spaces, with access to technology and many opportunities.

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With continued government and private support, BGCCA will continue to provide critical services to the youth who need us most, for many years to come. 

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Give Back Options 

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Planned Giving in Your Will
The act of planned giving is one of the greatest, most rewarding accomplishments you can strive for in life. Even if you donate on a regular basis right now, you can use your estate plan to create a planned effort that will continue supporting BGCCA, even after you’re gone.

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Leaving money to The CLUB in your will is easy. And, it means that when you’re no longer here, your estate plan will keep your generosity alive and well. It can be a simple step that ensures your legacy is worth more than you may have thought possible. 

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Planned Giving in your will is the act of setting up future charitable gifts using tax advantageous and legal strategies. It’s different than just making a general charitable donation. One important distinction is that Planned Giving often comes into play after your passing, and beyond the role of charity, it can offer the added benefit of:

• Decreasing estate tax liability

• Effectively increasing the amount of an estate that can be passed to your family and loved ones

• Sustaining the critical programs of Boys & Girls Clubs

 

Donate Your Retirement Account
There are more ways to give back using your estate plan than just leaving money in your will. You can also choose to donate part or all of your retirement plan to BGCCA. Leaving your retirement plans to The Club is a smart way to gift money with the added bonus of helping your estate avoid a huge hit on the tax front. 

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Contributions can be very tax efficient, benefiting both your estate as well as BGCCA. Charitable donations of retirement plans is yet one more way to reduce the amount of income taxes your estate will owe. It can also help beneficiaries avoid taxes on their inheritances. Donating retirement assets is easy. You’ll simply need to designate BGCCA as the beneficiary of your 401(k) or IRA retirement account. If you’re considering donating part or all of your retirement, the following benefits may help you decide:

• BGCCA is exempt from both income and estate taxes 

• BGCCA will receive 100% of the account’s value after you pass away

• Your estate will not pay income taxes on the asset distribution - you’ll receive a deduction on the contribution, which can offset estate taxes

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A Charitable Trust
Another way to take part in charitable giving using your estate plan is through what’s known as a Charitable Trust. Setting up a Charitable Trust (or a Split-Interest Trust) is a simple, straightforward way to use your Estate Plan to donate assets to BGCCA while retaining many of the benefits you gain by holding those assets during your lifetime. Benefits of a Charitable Trust include:

• Providing income to one beneficiary for a set time period (typically a max of 20 years)

• Remaining assets will automatically go to BGCCA

• Removing assets from your estate can reduce tax liabilities

• Diversifying your portfolio  

• Helping avoid capital gains

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There are many creative giving strategies that can enhance your well-being while at the same time providing financial support for Boys & Girls Clubs. We encourage you to speak with your financial planner to identify the strategy that is right for you.

Ready to talk? Contact Pat Doyle, Chief Development Officer at (518) 274-3781 ext. 2001 or via email.

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Take a moment to visit our Memorial Page where we honor lost supporters of The Club. 

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