Did You Know?
Over the past 18 years, the Endowment Foundation has provided grants totaling more than $727,000 for the Akron Area YMCA and its programs.
The Akron Area YMCA Endowment Foundation was started in April of 1994 to support the programs and mission of the Akron Area YMCA. The Foundation itself was incorporated in 1995 with David Vernon as the first Chairman.
The purposes of the Foundation are to receive and maintain funds or personal property and apply the earned income from these funds toward educational and charitable programs at the YMCA. As the Foundation's assets grow, so does its ability to ensure our legacy and provide support to programs that fosture youth development, healthy living and social responsibility.
YMCA branch leaders submit grant requests yearly to the Endowment Foundation for a project. The Foundation's Board of Trustees review these requests and decide which branch or branches will receive the awards each year.
Your Guide to Giving >>
WAYS TO GIVE
Planned gifts have significant tax benefits and best of all, enable individuals the joy of making a much larger gift than they could ever imagine. Planned gifts to the Akron Area YMCA Endowment Foundation are designated to the general fund or to a particular program or branch.
Bequest
The simplest and most flexible planned gift is a bequest, which is a clause in your will naming the Akron Area YMCA Endowment Foundation as recipient of part or all of your estate.
Insurance Beneficiary
Simply name the Akron Area YMCA Endowment Foundation as one of the beneficiaries or sole beneficiary of a life insurance policy, even one that you already own. By making the foundation the owner and beneficiary of the policy, you can deduct the premiums as charitable deductions.
IRA Beneficiary
Avoid being taxed on IRAs by naming the Endowment Foundation as the beneficiary of retirement assets.
Charitable Gift Annuity
When transferring cash or securities to the Akron Area YMCA Endowment Foundation, the Foundation in return guarantees to provide fixed quarterly payments to you and up to one other family member or loved one. There are two types of gift annuities: charitable gift annuities and deferred gift annuities.
Charitable Remainder Trust
A charitable remainder trust (CRT) is a vehicle allowing you to transfer assets to a trust and receive income from that trust until a specified time, at which point the “remainder” (what's left over) goes to the Akron Area YMCA Endowment Foundation. CRTs are created during your lifetime or through your will.
Named Funds
Gifts to the Akron Area YMCA Endowment Foundation are made to the general fund. Each year the Foundation Board determines the distribution in conference with the YMCA's leadership, or to the fund of a specific branch. There are also opportunities to provide an endowment for specific YMCA programs (such as camp scholarships) or positions (such as teen directors).
Donors may establish a named fund through a gift of $10,000 or more.
For more information on the Akron Area YMCA Endowment Foundation, current or planned gifts toward the endowment, membership in the Heritage Club, opportunities for named funds and confidential illustrations that fit your personal financial situation and goals, please contact Sandy Turner at 330-376-1335.
