GIVING IMPACTS LIVES
As the leading nonprofit for youth development, healthy living and social responsibility, the Y works side-by-side with our neighbors every day to make sure that everyone, regardless of age, income or background, has the opportunity to learn, grow and thrive. The Somerville YMCA is a non-profit 501(c)(3) charitable organization under IRS code. Thank you for considering a donation to the Somerville Y.
HOW YOU CAN HELP
It is your generosity that allows the Somerville YMCA to best serve our community and to ensure that we are there for those that need us the most. Every day the Y provides opportunities for children, teens, individuals and families to belong, to be part of a community, learn new skills, develop healthy habits and create lasting friendships.
For more information about Donor Rights, click here: Donor Bill of Rights
WHAT YOUR GIFT WILL DO
|Provides a child with a year’s membership and free swim lessons.||Will help keep a teen off the street and safe for a year.||Provides a child with a week of summer camp.|
WAYS TO GIVE
The Somerville YMCA is a non-profit organization whose success depends on the generous support of friends like you. No matter what the form of the gift, support from members and friends allows the Somerville YMCA to provide mission-based support to our members and to our community at large. All donations are tax-deductible to the full extent permitted by law.
There are many ways to make a planned gift to the Somerville Y to fit your family, finances, and charitable legacy. A bequest from your will or trust is among the simplest and most common ways to give.
The following companies and many more may double or triple your support for the Somerville Y by matching your SOMERVILLE Y Fund gift or your membership.
The most common and flexible type of planned gifts, a bequest through your will or trust can be made in any amount. A bequest may allow you to make a significant gift to an organization you care deeply about without affecting your current finances. You may designate the Somerville YMCA as the recipient of a specific amount or a percentage.
Gifts of Retirement Plan Assets
Making the Somerville YMCA a beneficiary of your retirement account is an easy, flexible, and tax-wise way to make a planned gift, and does not require changing your will or trust.
IRA Charitable Rollover
If you are age 70½ or older, you may also qualify for an opportunity to transfer assets annually from your IRA to a charity, tax-free.
Gifts of Securities
When you make a gift of appreciated securities, you could receive a double tax benefit—a charitable deduction and avoidance of capital gains tax.
Simply contact your financial institution and request the shares be transferred directly to Somerville YMCA’s account at Charles Schwab. You will need the following information:
Somerville YMCA’s Broker: Charles Schwab, Co., Inc.
DTC#: 0164, Code#: 40
Account Name: SOMERVILLE YOUNG MEN’S CHRISTIAN ASSOCIATION
Account Number: 4799-5785
Somerville YMCA Tax ID: 04-2103853
Before initiating a gift, please contact Vladimir Benoit at 617-996-6601 or [email protected] so that we know to expect the securities you are donating and can promptly acknowledge your contribution.
Other Types of Gifts
Life Income Gifts
Life income gift arrangements can provide an immediate tax deduction as well as an income stream for life for you and/or another beneficiary, while also making a contribution to the future of the Somerville YMCA.
Charitable Remainder Trust
A charitable remainder trust is independently managed by you or your advisor, and pays you and/or another beneficiary income for life in exchange for your commitment to make a charitable gift. It can also provide a substantial income tax deduction, and can serve as an effective means of avoiding capital gains and estate taxes.
Gifts of Real Estate
A gift of a highly appreciated residence, vacation home, or investment property can be arranged to produce maximum tax benefits for you while providing meaningful support for the Somerville YMCA. The Somerville YMCA can work with you and your advisor on a variety of gift structures, whether in your lifetime or as a bequest.
Charitable Lead Trust
A charitable lead trust provides the Somerville YMCA with a reliable gift for a set number of years but retains the principal for you or your heirs. A lead trust is especially beneficial if you have a large estate and are concerned about gift and estate taxes. Removed from your estate, assets placed in a lead trust can be passed to loved ones untouched by these taxes.
Other Beneficiary Designations
Beneficiary designations are among the easiest and most flexible ways to support the Somerville YMCA through your long-term plans, and typically do not require changing your will, trust, or other existing estate plan. In addition to your retirement or deferred compensation plan, many other types of financial accounts such as health savings accounts, commercial annuities, and certificates of deposit, will allow you to name a beneficiary or to change the account structure to “payable on death” or “for the benefit of.”
Donor Advised Funds
Donor advised funds often provide the opportunity to make recommendations regarding the distribution of any remaining fund balance in the event of one’s death. You may be able to name one or more charities as beneficiaries or to recommend future distributions to certain charities. Your fund administrator can provide more information.
Life Insurance Policies
Naming the Somerville YMCA as a beneficiary of your life insurance is a simple way to leverage your policy into a meaningful gift. Alternatively, if you have reached a point where your life insurance is no longer needed as part of your estate plan, you can also choose to make the Somerville YMCA the owner of your policy. For more information, contact us or your policy administrator.
We encourage you to consult with your financial advisor, attorney, or other trusted professionals to know if a giving option is right for you.