A Message
from BMAV Chair Barbara Brown

I celebrated a birthday in June, and it made me think about planning for the future — and about the impact I want to have on my family, my community, and those in need. One of the easiest ways to make an impact is to make a gift to BMAV via our IRAs, trusts, or wills. I am now making several organizations, including BMAV, beneficiaries of my IRA. It costs nothing now, and it allows me to ensure that the services we offer are available to others in the future or also, perhaps, to fund a new initiative that would benefit the community.

A legacy gift can be for any amount or even be material goods, property, or stock or a percentage of your IRA, trust, brokerage account, or insurance policy. One important note: As you divide your holdings between your children and your favorite charities, remember that if you leave your children money from your IRAs, it is fully taxable as income for them. Providing a nonprofit with support from an IRA eliminates those taxes, and you can leave to your children other assets, which would be taxable no matter who receives them. Financial advisors are familiar with what method would be best for you, and a lawyer can advise you on maximizing your impact. 

A legacy gift is not irrevocable. If in the future you change your mind, you can revoke the gift. Creating an endowment that assures the continuation of BMAV services in the future makes it easier for us to think about new activities and initiatives now, because we don’t have to be as concerned about how we might fund them in the future. It also sends a message to future generations about how much you care about the village.