Is Planned or Legacy Giving Right for You?
BORP changes lives. Our adaptive sports and recreation programs have a profound impact on our participants’ health, sense of well-being, and overall quality of life. For many people living with physical disabilities and visual impairments in the Bay Area and surrounding regions, BORP offers the only chance to participate in accessible and adaptive recreational activities.
Planned gifts provide creative and flexible strategies for you to pursue your charitable and financial goals. Among the financial benefits you may receive are life income for yourself or your family, and substantial tax savings. However, the greatest benefit of a planned gift to BORP is in knowing that you are supporting work that is important to you, your community, the Bay Area, and the world for generations to come.
For nearly 40 years, BORP has made a difference in the lives of thousands of people in and around the Bay Area and across the country. Supporting the work of BORP’s programs, planned or legacy gifts give donors the satisfaction of knowing that their generosity will allow BORP to prosper for another 40 years–and beyond. As a member of the BORP Legacy Fund, you know that you will touch the lives of future BORP participants and their families for generations to come.
Planning your gift can be as simple as including BORP in your will or trust, or making BORP the beneficiary of a portion of your retirement savings plan or life insurance policy. In general, a charitable bequest works for anyone who would like to support a charitable organization in the future. Because donors can change their minds and their gifts at any time, this type of gift has universal appeal.
Profile of a BORP Legacy Fund charter member:
- You are a supporter of BORP and wish to continue your support after your lifetime.
- You have a will or living trust, or are ready to create one.
- You want to make a charitable gift to BORP while ensuring your family is taken care of first.
- You want to maintain the flexibility to change your mind at any time.
- You want estate tax relief.
We hope you’ll consider including a gift to BORP in your estate plan. With careful planning, you can receive an estate tax deduction and, in some cases, provide yourself and your family with an annual income while supporting BORP in a way that is meaningful to you. There are several options available:
A bequest is a simple provision in your will or living trust that enables you to support BORP as part of your legacy. Bequests may be general or restricted to a specific purpose. This type of gift is easy to set up and may be attractive to individuals for whom the income tax benefits of lifetime giving are not particularly important. Charitable bequests offer the following advantages:
- Simplicity. A few short sentences in your will or trust are all that is needed. Share the sample bequest language for BORP with your estate planning professional:I give and bequeath to Bay Area Outreach and Recreation Program, Tax ID #: 94-2324340, the sum of $______ (or _____% of my estate; or __ % of the rest and remainder of my estate).
Download the BORP Legacy Fund Letter of Intent.
- Flexibility. We understand that emergencies happen, and you need to make sure your family’s financial security is taken care of first. Your circumstances may change and you can change or revoke your gift at any time.
- Versatility. You can structure the bequest to leave a specific item or amount of money, make the gift contingent on certain events, or leave a percentage of your estate to BORP. Designating a percentage of your estate ensures that your gift will remain proportionate no matter how your estate’s value fluctuates over the years. You can also make a specific bequest by giving a certain amount of cash, securities or property. After your lifetime, BORP receives your gift.
- Tax Relief. If your estate is subject to estate tax, your gift is entitled to an estate tax charitable deduction for the gift’s full value.
Retirement Plans and Insurance
By naming BORP as a full or partial beneficiary of your IRA, 401(k), 403(b), or life insurance policy, you can avoid significant tax penalties to your heirs while leaving a permanent legacy to BORP. Other benefits may include:
- These distributions are made by beneficiary designations, so there is no need to revise your will or trust.
- Possible federal estate tax savings.
- Flexibility — you may increase or decrease benefit amount at any time.
- Satisfaction of completing your estate plan.
- No minimum amount required. You can leave any amount or percentage of your retirement instrument or life insurance policy that you wish.
Gift of Real Estate
If you have appreciated real property value, a gift of real estate may be an attractive option for you. In addition to receiving a charitable income tax deduction based on your property’s full fair market value, you will enjoy other benefits depending on the type of gift you choose to make:
- Estate tax savings — avoid capital gains tax on the property’s appreciation.
- Retained Life Estate — continued use of the property as your primary residence, vacation home, or rental income property for the balance of your lifetime.
- Avoid probate.
- Eliminate the inconvenience of marketing and selling your property.
If you have already included BORP in your estate plans, please let us know. We would like to thank you for your generosity, make sure the purpose of your gift is understood, and with your permission, recognize you as a charter member of the BORP Legacy Fund. Download our Letter of Intent and email your completed letter to email@example.com; OR fax it to (510) 849-4616; OR mail it to us:
Attn: Legacy Fund
3075 Adeline St, Suite 200
Berkeley, CA 94703
For more information on the BORP Legacy Fund, please contact:
(510) 849-4663 ext 1302
Disclaimer: The Bay Area Outreach and Recreation Program cannot engage in rendering legal, accounting, or other professional services. Please contact your own legal and/or tax advisors for advice applicable to you. The information on this website is not intended as legal or tax advice. References to estate and income taxes apply to federal taxes only. State income/estate taxes or state law may impact your results.