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WAYS TO GIVE

There are many ways in which you can support the Rapid City Club for Boys, either by an immediate or recurring donation or by other means that involve longer term planning. Some may offer tax benefits.

WAYS OF GIVING INCLUDE:

OUTRIGHT GIFTS ARE THOSE PLACED AT THE IMMEDIATE DISPOSAL OF THE CLUB FOR BOYS FOUNDATION AND IN WHICH YOU, THE DONOR, RETAIN NO INTEREST. FOLLOWING ARE SOME EXAMPLES OF IRREVOCABLE DEFFERED GIFTS:

  • Gifts of Cash
Gifts of cash are welcomed by the Foundation. Such gifts may be in the form of checks, memorial funds, existing cash value of life insurance policies, or realized bequests. This type of gift provides immediate liquidity for the Foundation and generates a charitable income tax deduction for you in the year of the gift.
  •    Stocks or Bonds
Stocks or bonds may provide greater tax benefits. If you have owned securities for more than one year and the fair market value has increased since you purchased them, you can avoid capital gains tax and receive a charitable income tax deduction equal to the 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, clothes and other items you may own. To ensure that any tangible personal property qualifies for a favorable charitable tax deduction, please contact us.
  •    Charitable Lead Trusts
Charitable lead trusts occur when you place income-producing assets in a trust, generally for a period of years, 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. With the charitable lead trust, you may reduce potential transfer taxes while conserving assets for your heirs.
Note: Be sure to consult your personal financial consultant before making a gift to the Club For Boys Foundation.

THESE ARE GIFTS THAT ARE COMMITTED TO THE FOUNDATION IN WHICH YOU DO NOT RETAIN THE RIGHT TO CHANGE THE COMMITMENT AND/OR BENEFICIARY. 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 paid-up and designate the Club for Boys Foundation as owner and beneficiary will have a charitable income tax deduction, in most cases, equal to the cost basis in the policy. If the policy is not fully paid up, by naming the Club for Boys Foundation as owner and beneficiary, the cost of the annual insurance premium is tax deductible.
  •    Remainder Interests in Real Estate
Remainder interests in real estate allow you or those you designate to continue to occupy a personal residence, farm or vacation property, for the duration of the designated life. At the end of life, the Foundation may use the property or sell it for cash.
  •    Charitable Gift Annuities
Charitable gift annuities generate income for you. You may give cash, publicly held securities, real estate or any other unliquid asset as contributions to a charitable gift annuity. The Foundation will sell liquid assets and put them in a special fund, giving you an annuity payment. In addition to this actual payment back to you, you will receive a charitable income tax deduction and a portion of each annuity payment may be tax-free.
Note: Be sure to consult your personal financial consultant before making a gift to the Club For Boys Foundation.

THESE ARE GIFTS THAT ARE COMMITTED TO THE CLUB FOR BOYS FOUNDATION BUT THE DONOR MAY CHANGE THE COMMITMENT AND/OR BENEFICIARY. 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 of your estate after costs and taxes. The official name to be used in a bequest is the Rapid City Club for Boys Foundation, Inc.
  •    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.
  •    Charitable Remainder Trusts
Charitable remainder trusts are the most versatile giving tool because they can bypass capital gains tax on the sale of highly appreciated assets, generate an increase in income, trigger a charitable income tax deduction and fulfill your philanthropic objectives. The CRT is a legal trust, set up by your attorney.
Note: Be sure to consult your personal financial consultant before making a gift to the Club For Boys Foundation.

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