Lamplighters Club

Our philanthropic gifts create a tremendous ripple effect, from ourselves to our families and on to the world around us – usually reaching so far that we may not even realize the benefits our gifts have created in the lives of others.

When you cast your stone our way, you help ensure a long life for the Kankakee Area YMCA. Your charitable gift contributes to a future of new possibilities for families and children throughout Kankakee County.

In addition, your gifts to the YMCA can benefit your current financial plans and help you meet your family's needs for years to come. Many avenues are available to blend your philanthropic goals with your own financial, tax and estate plans – while ensuring that your resources are utilized to their fullest capacity, for your family and your favorite charitable interests.

In this booklet you will find descriptions of many options that may fit your situation and goals. Please allow us to partner with your legal and tax advisors to help you plan for tomorrow, as well as receive maximum benefits today.

What Is a Lamplighter?

Back in the days before electricity, many cities and towns still could keep their municipalities illuminated at night: they had streetlights that used oil, and later gas. And every night at dusk one man had the job of going to each individual streetlamp, setting it aglow from the torch he carried, and continuing on to the next. Though he had moved on, he left the world behind him bright, safe, and warm. This stalwart of the community was the Lamplighter.

The Lamplighters Club

Founded in 1966, the Kankakee Area YMCA Lamplighters Club was established to increase the awareness of the endowment fund and to recognize those who have included the YMCA in their financial planning. The endowment fund provides the Kankakee Area YMCA with a stable financial base to carry out its mission today, while also allowing for growth in the future.

Choosing to be a part of the Lamplighters Club involves making a commitment that adds to the endowment fund, whether it is now or in the future. This booklet offers information on some of the options you may use to contribute to the endowment fund, while also providing for your family's needs.

Your estate plan can leave a legacy of everlasting value. When you include the Kankakee Area YMCA in your charitable planned giving, you become a stalwart of our Y community creating an ever-flowing stream of opportunities for future generations.

Make Your Wishes Known

If you've put off creating or updating your will, take the time now to make your wishes known. The benefits of planned gifts are numerous – for you and the people and organizations, you care about. With thoughtful planning, you can ensure that your estate has the greatest impact on your family and the charitable causes you support.

The types of gifts you can give to a charitable organization like the Kankakee Area YMCA are numerous. Any type of asset that you irrevocably donate results in a current income tax deduction. With many types of gifts, however, there are additional tax benefits.

On the following pages, we've provided brief overviews of several types of gifts, beyond an outright gift of cash, you may wish to consider. In the end, your planned giving should reflect your personal goals, priorities, and outlook.

Life Insurance

A life insurance policy with greater coverage than you need - can be a sensible gift to consider. You can also use life insurance to replace the value of a different gift. For example, you could donate stock to the YMCA due to the tax advantages and then purchase life insurance to benefit your heirs in the amount they would have received had you left them the stock.

Benefits:

• Charitable deduction when you name us beneficiary and assign us ownership of the policy
• Flexibility by naming us beneficiary, but keeping ownership
• Security for your family by naming us contingent beneficiary
• Reduction in estate taxes because proceeds are removed from your estate

Retirement Plan Assets

Depending on your situation, donating retirement plan assets can be the most cost-effective gift you can make. Retirement plan assets, such as an IRA or Keogh plan, often face double taxation. The amount is diminished by estate taxes and the recipient must pay income taxes on the amount as well. If other provisions can be made for your family, it may be a better option to offer your retirement plan assets as a charitable gift.

Benefits:

• Naming the YMCA primary beneficiary avoids all income and estate taxes
• Partial savings occurs when you give the YMCA a specific amount before giving family the remainder
• Naming the YMCA as the contingent beneficiary allows for greater flexibility

Real Estate

Before selling land, a building, or a personal residence, consider the advantages of offering it as a charitable contribution to the YMCA.

Benefits:

• Income tax charitable deduction for the full market value
• Avoidance of tax on the property's appreciation
• No gift tax, plus a reduction of your taxable estate

Another way to receive some of the tax advantages of a charitable gift of real estate, while continuing to live in your personal residence, is through a retained life estate. Even with stipulations about occupancy, a gift of your home, farm, or condominium results in a charitable deduction on your income tax.

Benefits:

• Lifetime use of the residence for you and/or another person
• Income tax savings through charitable deduction
• Estate tax savings even when you give a non-spouse lifetime use
• Ability to give only partial interest in property and receive tax advantages

Closely Held Stock

A sizable block of stock in a closely held corporation is another charitable gift that presents a win-win situation for all. When you donate a percentage of those shares to the YMCA, we can then present them to your corporation for redemption. Your corporation uses retained earnings for the purchase and we receive much-needed funds.

Although a charitable organization cannot be legally bound to go through with the redemption at the time it receives the shares, it can choose independently to offer the donated stock for redemption and would likely do so. It's a favorable option that benefits you and the YMCA.

Benefits:

• Income tax deduction for the charitable contribution
• No capital gains tax on the appreciation in value
• No second tax on accumulated earnings by averting a dividend distribution
• You maintain control of the corporation

Charitable Remainder Annuity Trust

This plan pays you a fixed dollar amount every year for the rest of your life, with no investment worries or responsibilities. After your lifetime (and the lifetime of a surviving beneficiary, if desired), the trust remainder is available to support the YMCA's mission.

Benefits:

• A fixed and certain lifetime income
• Immediate charitable deduction
• A means of increasing income from a low-yield holding
• Avoidance of capital gains tax on appreciated assets used to fund the trust

Charitable Lead Trust

If your goal is to pass assets to your family with significant estate tax savings, a charitable lead trust may be your answer. The YMCA receives income from assets in the trust for a period of years, and the remaining principal goes to your family, with estate or gift taxes reduced and sometimes eliminated.

Benefits:

• Can be funded during your lifetime or through your will
• You support our mission through annual income payouts
• Reduces your taxable estate and potential gift taxes, leaving more of your assets in your family

Lamplighters Club Members

The Kankakee Area YMCA is grateful to the following Lamplighters Club members for their leadership, service, and devotion to the YMCA mission:

• Rich & Cathy Allers
• *Paul & Joyce Blanke
• Bernice Blitz
• Chris Bohlen & Rosemary Pistorius
• Darlene Cipcich
• Craig & Kathleen Copper
• Dave & *Judy Cox
• Joe & Julie Giacchino
• Dr. Hany Girgis
• *Don & Kay Green
• Dennis & Georgia Hess
• David Jaffe
• *Terry & *Mary Johnston
• Phil & Lynda Kambic
• Linda LeMaire
• *Janet Leonard
• *Dick & Aline McHie
• *Al & *Jane Meyer
• *Bob & Diane Miller
• Bruce & Nancy Payne
• *Robert E. Rashkin
• Ron & Nancy Ruda
• Dorci Schoolman
• Harry & Jaymie Simmon
• Les & Susie Small
• *Jean Thomas
• *Wes & Connie Walker
• William & Ann Welsh
• Marty Whalen & Kathleen Kennedy
• Joe & Sandra Yurgine

*Name – Lamplighters that have passed on and left their light behind in perpetuity for the YMCA mission of service for all.

Want to Learn More?

This handout is intended to give you an idea of the possibilities available as you consider your charitable gifts. To learn more about how you can support the YMCA through resourceful financial and tax planning, we encourage you to contact a professional legal or tax advisor.

We appreciate your support as we strengthen the foundations of our community!