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The Club for Boys Foundation. Ways to Leave a Lasting Impact.

Grover and Thelma O’Neal passed away over 20 years ago.  Yet, every time boys play basketball at the Club or read a book in the library or eat lunch in the dining room, Grover and Thelma’s good work lives on. This is because of their gift to the Club for Boys Foundation.

Their bequest became part of an endowment fund set up in the Foundation to support the Club in the years to come.  The endowment is a professionally-managed fund and, each year, 5% of its value (based on a 3-year average) is returned to the Club for its operation.  If the Club is ever in trouble financially, additional funds can also be made available, with 2/3 of the Foundation board’s approval.

Your gift to the Foundation means you become a permanent part of the Club for Boys and your impact on young men in our community extends far into the future.

Ways to Give

There are many ways you can support the Rapid City Club for Boys Foundation:

Outright Gifts

Outright gifts are those placed at the immediate disposal of The Club for Boys Foundation.

The following are some examples.

  • Gifts of Cash: Gifts of cash are welcomed by the Foundation and provide a tax deduction for you in the year of the gift.
  • Stocks or Bonds: Donating stocks or bonds to the Foundation means you can avoid capital gains tax and receive a charitable income tax deduction equal to their fair market value. 
  • Real Estate: Real estate that has been held for more than a year also has the advantage of providing you with a charitable deduction based on the current fair market value, as well as bypassing capital gains tax on the appreciation.
  • Tangible Personal Property: Tangible personal property includes art, jewelry, livestock, cars, equipment, boats, clothing, and other items you may own. To ensure that any tangible personal property qualifies for a favorable charitable tax deduction, please contact the Foundation.
  • Charitable Lead Trusts: Charitable lead trusts occur when you place income-producing assets in a trust and direct that the income (interest, dividends, or other income) from the assets go to the Foundation. At the expiration of the trust, the remaining assets return to you or whomever you designate.

Revocable Deferred Gifts

These are gifts that are committed to The Club for Boys Foundation but you may ultimately change the commitment.
The gift is not usable by the Foundation until some point in the future.

Following are some examples of revocable deferred gifts.

  • Bequests: Bequests in wills or trusts are ways you can ensure that support of The Club for Boys continues after your life on earth ends. Bequests can transfer a specific asset or a percentage or your estate after costs and taxes. The official name to be used in a bequest is the Rapid City Club for Boys Foundation, Inc. Our federal id number is: 75-3015710. 
  • Life Insurance: Life insurance policies in which you name the Foundation as the beneficiary or contingent beneficiary (but not the owner) are in this category.
  • Retirement Plans: Retirement plans, including IRAs, can name the Foundation as the beneficiary.

Irrevocable Deferred Gifts

These are gifts that are committed to the Foundation and can’t be changed. However, the gift is not usable by the Foundation until some point in the future.

Following are some examples of irrevocable deferred gifts:

  • Life Insurance: Life Insurance policies that are fully paid and designate The Club for Boys Foundation as owner and beneficiary will have charitable income tax deduction, in most cases, equal to the cost basis in the policy. If the policy is not fully paid, by naming The Club for Boys Foundation as owner and beneficiary, the annual premium can be paid to the Foundation who will issue the donor a tax deduction for that amount.  The Foundation will then pay the insurance company the premium.
  • Remainder Interests in Real Estate: Remainder interests in real estate allow you or those you designate to continue to occupy a personal residence, farm, and vacation property, for the duration of the designated person’s life. At the end of that life, the Foundation may use the property or sell it for cash.
Note: Be sure to consult your personal financial consultant about making a gift to The Club for Boys Foundation.
For any questions, please contact Sara Gentry,
Foundation’s Executive Director:
[email protected]
605-593-0242 (direct line)
Learn more about other ways you can ensure the future of Club services for future generations.
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Rapid City, SD 57701

(605) 343-3500

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