Estate Planning and Scouting
SELECTING YOUR GIFT
With a major gift, you can help build a new camp facility. Or pay for Scouts to go to camp who couldn't afford to go. Or endow a specific program or position in Scouting. Or anyhing else you can imagine. The use of our gift is restricted only by your imagination. Your gift can be - and should be - an individual expression of your vision and goals.
As you begin to define your vision, ask yourself: What are my personal objectives and needs? What are my financial goals? What is the best asset to use to make my gift? Which gift plans can best accomplish my goals for my family and Scouting?
The Chicago Area Council Finance Division is a resource for you. We are experienced in gift planning and understand the importance of philanthropy as a part of a succesful overall estate plan. We are available to assist you and your advisers as you consider the many opportunities presented by planned giving. Our goal is to present you with options and to help you make the best choice possible. We accomplish this by ensuring that your gift expresses your interests in Scouting, goes to the programs of your choice, and maximizes the benefits you and Scouting will receive from your gift.
Working together, the Boy Scouts of America, Chicago Area Council and its supporters can create a gift that meets the needs of our donors and blends the individual's vision with the objectives of Scouting and the youth and communities it serves.
The Chicago Area Council Heritage Scoiety has been designed to serve as the primary "sales package" that the Council offers to potential donors to secure gifts to the endowment trust fund. Its objective is to encourage men and women who believe in Scouting to invest in its future by making an outright or planned gift, thereby becoming life-time members with appropriate recognition and priviledges. A member receives a handsome certificate, lapel pin and permanent recognition by having their name placed on the beautiful Heritage Society plaque, located in the Council Service Center.
NATIONAL BSA ENDOWMENT RECOGNITION AWARDS
The BSA nationally offers three distinct recognition awards. These awards are presented by the Council to donors who support Scouting's financial future with gifts to the Council endowment fund. The national recognitions are:
- The James E. West Fellowship - Available for gifts of $1,000 and up in cash or marketable securities. The gift must be in addition to - and not replace or diminish - the donor's annual Friends of Scouting support. Many individuals and organizations make these gifts either on behalf of someone else - such as in honor of an Eagle Scout, Silver Beaver recipient, a retirement, a special accomplishment, or anniversary - or in memory of a special individual.
- The 1910 Society - The 1910 Society award is for donors who make gifts of $25,000 or more to the Council endowment. These gifts can be in the form of cash, securities, land, five-year pledges, or other property suitable for a Council endowment fund or easily converted to cash.
- The Founders Circle - The Founders Circle is intended to recognize deferred gifts designated for the Council endowment fund. Donors are recognized for gift commitments of $100,000 or more. A donor may qualify for membership with gifts made through charitable bequests, trusts, BSA gift annuities, BSA pooled income funds, life insurance, or other deferred gifts.
POTENTIAL GIVING OPTIONS
Charitable lead trusts - The charitable lead trust is a gift of income to the Council.You select the assets to place in trust, and the length on time that your trust will last. Income from the trust is paid to Scouting for the length of time and purposes that you specify. When the trust terminates, the assets are returned to you or distributed to whomever you choose, and are received tax-free.
Living Trust - This is sometimes called an inter vivos trust because it is created and becomes active during your lifetime. It keeps you in control of your assets during your lifetime and specifies how your property whould be distributed after your death.
Bequests - A will makes a statement about what matters most in your life. By making a will, you ensure that your intentions are clearly expressed, and that they will be followed by those administering your estate.
Life Insurance - Life insurance is another convenient way to make a future gift to Scouting with a minimum investment. Some donors make a gift of new, paid-up policies or existing ones that are no longer needed. A gift of existing life insurance that you own may be completed by assigning ownership and delivering the policy to Scouting.