Retirement Plans

Designating Boys & Girls Clubs of Southwest Washington as a beneficiary of your retirement plan can be a tax-efficient and simple way to ensure that your support for BGCSW continues long into the future.

IRA and 401(k) plans distributed to family members may be subject to double taxation, first through estate tax and then through the beneficiaries’ income tax. Naming Boys & Girls Clubs of Southwest Washington as a beneficiary to your retirement plan allows proceeds to pass to BGCSW free of estate and income taxes. 

Life Insurance Policies

Not only can Boys & Girls Clubs of Southwest Washington be named as the beneficiary of your life insurance policy, but you can also transfer the policy irrevocably to BGCSW.

You may be eligible for an income tax deduction for the policy’s cost bases or cash surrender value (whichever is less), and any subsequent premiums may qualify for a charitable deduction.

With a charitable gift annuity (CGA), you make an irrevocable gift of cash or appreciated assets to Boys & Girls Clubs of America (BGCA)* for the benefit of Boys & Girls Clubs of Southwest Washington. In return, you - and/or another beneficiary you name - are paid a fixed dollar amount for the rest of your life. When the annuity ends, the remaining funds support BGCSW’s mission and local programs.

When you establish a CGA, you may receive an income tax deduction for a portion of the gift in the year the annuity is established. In addition, funding your gift annuity with appreciated stock may allow you to reduce or spread-out capital gains taxes. A portion of each annuity payment may also be tax-free, depending on your situation. 

*BGCA administers all CGA contracts and charges a cost recovery fee of 1% per year for each year the gift is in the fund (maximum 10%) on the residual amount of the gift. Minimum gift amount is $10,000.00.

Setting up a charitable trust involves creating an irrevocable trust, contributing appreciated assets (stocks, real estate, cash), and naming a trustee to manage it. Depending on the structure, these trusts can also provide income, reduce taxes, and protect your assets, among other benefits. 

Charitable Remainder Trusts (CRT)

Assets are transferred irrevocably to a CRT that provides an annual specified distribution percentage to one or more beneficiaries for life, or a term of years. After the income period ends, the remaining assets in the trust go to Boys & Girls Clubs of Southwest Washington.

Charitable Lead Trusts (CLT)

Assets are transferred irrevocably to a CLT and Boys & Girls Clubs of Southwest Washington receives an income stream for a lifetime or term of years, after which remaining assets are distributed to you or other beneficiaries.

*BGCSW does not draft legal documents or serve as Trustee for charitable trusts.  

Questions? We’d love to hear from you! Call 360-787-2067 to speak to a member of our Development & Communications Department or email fundraising@mybgc.org. 

The information provided on this website is not intended as tax or legal advice. For such advice, please contact your tax and/or legal advisor.