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 The Latest News!
 BGCA unveils a new Charitable Gift Annuity Fund
Boys & Girls Clubs of America has made available to all Clubs a national charitable gift annuity program. Boys & Girls Clubs of Whatcom County is a CGA partner in this new program.
A charitable gift annuity is a simple contract under which Boys & Girls Clubs of America, acting on behalf of the local Club, agrees to pay a fixed sum of money (payments) for a period measured only by one or two lives in return for a transfer of cash or marketable securities from a donor.
The contributed property (the gift), given irrevocably, becomes a part of the Boys & Girls Clubs of America's charitable gift annuity fund, and the payments are a general obligation of the BGCA. The annuity is backed by the BGCA's entire assets, not just by the property contributed. Unlike a trust, annuity payments continue for the life/lives of the annuitant(s), and not only as long as assets remain in the gift annuity fund.
Thus, an element of risk to BGCA exists. To manage the risk, BGCA has established policies and procedures as part of the CGA Service Agreement. We invest the money and are responsible for making the annual payments and will distribute to the local Club the remainder when the donor passes on.
Why a Charitable Gift Annuity?
o Provides fixed income for life, partly tax free
o Allows donors to make charitable gifts
o Provides a charitable deduction
o Reduces capital gains tax if the basis of the gift exceeds its current value
o Reduces estate tax
o Requires no setup cost
The Club’s benefits are:
o The remainder of the gift at maturity
o Donors who are contacted regularly and become passionate about our mission
o Donors with the potential to make additional planned gifts
For more information download the CGA brochure click HERE.  Options in Planned Giving
There are a variety of ways you can create a lasting impact for our youth.
It’s as easy as designating the Foundation as a beneficiary in your life
insurance policy or your 401 (K)! Legacy gifts can include a simple
addition of naming the Foundation in a codicil in your will.
**Please consult your financial advisor or
legal counsel for specific tax benefits.** We cannot provide legal advice, however we can help structure a gift that is a right fit for you and your philanthropic goals.
Click here for more information about Planned Giving and the many benefits available
to you or type: http://www.Clubgift.org into your browser
The Heritage Club
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