The New Canaan YMCA’s Endowment: Sustaining values for future generations…
In a world in which so much comes and goes so quickly, the Y lasts. We are stable, values-driven, and capable of meeting the changing needs of our community—as we have for more than 50 years. Visionaries created the YMCA as a gift for our community, and we have a duty to steward the YMCA for future generations.
Many friends of the YMCA are helping us extend our influence beyond their own lifetimes with gifts of a part of the assets they have accumulated to the YMCA’s Board of Directors designated endowment.
There are significant tax benefits that encourage philanthropic giving, because the federal government recognizes the important role the Y plays in meeting communities’ changing needs. Every situation is different, but depending on the specific arrangement you can expect some of the following benefits of a well-designed gift to the New Canaan YMCA:
- Income tax savings through the charitable deduction for the value of the gift
- Avoidance of capital-gains tax on contributions of certain kinds of property that have increased in value over time
- Income for life, for a donor and/or other beneficiaries
- The possibility of increased spendable income with certain arrangements
- Elimination of federal estate tax on the value of a gift passing to the YMCA upon the donor’s death.
When the Y is aware of your financial as well as philanthropic objectives, we can help formulate a strategy that takes full advantage of the available tax benefits while at the same time fulfilling your desire to benefit future generations of children and families who depend on us.
The New Canaan YMCA welcomes the opportunity to confidentially discuss philanthropic goals with prospective supporters. For more information, please contact Kristina Barrett at 203-920-1654.