"We only have a short time to live,
so we must do things that are worthwhile,
and do them now."
- Lord Robert Baden-Powell,
Please remember Scouting in your Will...
Scouting’s original founder, Lord Robert Baden-Powell, lived by an interesting motto: We only have a short time to live, so we must do things that are worthwhile, and do them now. This belief clearly influenced his vision of the organization he was to create. But it also continues to define the true importance of Scouting, the relevance and impact of its programs, and the vital role that our great volunteers play in making Scouting what it is today. Through our wills, all of us can ("do them now") help insure that Scouting will continue to build character, citizenship and fitness in the future. The charitable bequest (will) is the most familiar and widely used way to benefit Scouting at some future time. It is how most donors establish a legacy after their lifetime. Most who include Scouting in their wills benefit their heirs at the same time. A charitable bequest is completely deductible from the estate. Depending on your needs, there are many forms a bequest to Scouting can take. These include:
- General Bequest - a designated sum of money from your estate, such as $10,000. These are among the first bequests to be fulfilled in an estate.
- Specific bequest - a specifically designated item, such as a certain stock, a specific home or piece of land, artwork, etc. If you don’t own the item at the time of your death, the beneficiary will get nothing.
- Percentage bequest - a designated percentage of your estate, such as 10 percent. This is a good way to ensure that inflation will not reduce the value of your bequest to Scouting.
- Residuary bequest - a designation that gives Scouting all or part of what remains after your general and specific bequests are satisfied. There may or may not be any gift for Scouting with such a bequest.
- Contingent bequest - a bequest that will not take effect unless another bequest fails, such as to a spouse or other relative who might predecease you. Many donors establish "testamentary" charitable trusts in their wills. These many be annuity trusts or unitrusts - just like those created during life - but are funded or created in a will. Also, for donors who use living trusts instead of a will, Scouting and other charities can easily be included in those. For those already with wills, simple changes can easily be made with a codicil. A codicil is a simple addition or amendment to an existing will. As with all bequests, codicils remain revocable during your lifetime. Regardless of your charitable plans, it is important to regularly review your will and make sure it meets the changing needs of you and your family. Please give thoughtful consideration to how you can impact Scouting into the future, forever.
The Founders Circle
The Founders Circle is intended to recognize deferred gifts designated to the Bay-Lakes Council endowment fund. With deferred giving (also called planned giving) so widely and effectively used by so many donors, the Bay-Lakes Council wants to recognize the importance of such major gifts. Donors are recognized for gift commitments with a minimum value of $100,000. Unlike the other endowment recognition awards, the donor may qualify for membership with gifts made through:
- Charitable bequests in a will or a codicil
- Charitable trusts, such as unitrusts, annuity trusts, and lead trusts
- BSA Gift Annuities or BSA Pooled Income Fund Gifts
- Life insurance/retirement plan designations
- Other deferred gifts approved by the Bay-Lakes Council
There are four levels of membership within the Founders Circle.
Bronze - $100,000 minimum gift commitment
Silver - $250,000 minimum gift commitment
Gold - $500,000 minimum gift commitment
Platinum - $1,000,000 minimum gift commitment
The early founders of the BSA had the vision and commitment to make Scouting the number one youth organization in the world. In that spirit, we honor the modern-day visionaries who qualify for the Founders Circle in their commitment to perpetuate the visions and beliefs of those founders.
For more information on how you can participate in one of these endowment recognition programs, contact Tim Buchen at (920) 734-5705 Xtn: 114.