Have you ever thought about what your legacy will be?  Will it be in the professional accomplishments of your career?  Will it be in the lives of your children?  Will it be in your charity work?

Many people wonder how they will leave lasting impact in the organizations that have meant the most to them and their families throughout their lifetime.  The Greater Moncton YMCA Foundation can help show our dedicated donors, volunteers and members how they can help ensure that the Y is able to continue providing support to the community long into the future.

 

What is planned giving?

Many of our friends and supporters would like to make a significant and lasting impact on the YMCA Greater Moncton through a major gift but find they are unable to realize this goal today.  They often find they need their assets in order to provide for their family’s day to day cost of living.  Planned giving allows people to realize their goals of philanthropy by planning today for a future gift out of their estate. 

 

You may already be familiar with many types of planned giving. A few of these are described briefly below.

 

Bequest:

By far, the most common form of planned giving, an outright charitable bequest is made through terms of a will.  It may be either a specified amount, a percentage of a final estate, or the residual of an estate after loved ones have been provided for or other specific bequests have been made.

 

Life Insurance Policy:

A charity may be named as beneficiary on an existing life insurance policy or you may want to purchase a life insurance policy specifically for the purpose of gifting to the YMCA Greater Moncton.  Using life insurance as a planned giving tool can allow many people to leave much larger gifts than otherwise possible.

 

RRSP’s:

A donor may designate a charity as a beneficiary of a retirement plan or annuity, payable upon death.  As a not-for-profit, the charity would not be subject to taxes on retirement plan assets, which non-charity heirs would be subject to. 

 

Planned gifts can enable you to maximize on significant tax benefits.  Many times, these tax advantages will make it possible for you to make a greater gift than you thought possible, while also benefiting your family and heirs.  With careful planning today, you may reduce or eliminate estate, inheritance, or gift taxes, allowing your family and the charities you support to receive the full benefits of your life's work. Certain gift plans actually result in a greater amount of wealth passed on to family.

 

As with all financial decisions, a planned gift should be designed with care and in consultation with your personal financial planner and lawyer.

 

What is Endowment?

The YMCA Greater Moncton Foundation has an established an endowment fund for planned gifts.  Our endowment fund provides a source of funding for the YMCA Greater Moncton. Endowment is a fund where assets are invested. Each year, the principal remains invested and the earnings of the fund are used to support the YMCA Greater Moncton. In this way, an endowment fund can grow and provide support for its designated purpose in perpetuity. When you contribute to our endowment fund, you create a permanent legacy of support for the YMCA Greater Moncton.

 

The Heritage Club

The Heritage Club was recently established for those who have shared with us that we are included in their plans.  The Heritage Club enables us to recognize and thank donors today for their gifts of tomorrow.  As the Heritage Club membership grows, we know that our future becomes stronger, and that the YMCA Greater Moncton will always be here to strengthen local families.  People who have included the YMCA in their plans only need to let us know, it’s as simple as that.

 

How can I get more information?

If you are interested in learning more please contact Bonnie MacFadyen by email at: bonnie.macfadyen@ymcamoncton.com or by phone: 506 857-0606 ext. 2253.