Endowment

The Endowment Fund is a trust that was established by the Board of Directors of our Council. Gifts to this fund are held in perpetuity meaning that the original gift amount is never spent but is rather invested. The earnings from this investment are then used to bring Scouting to our urban, suburban and rural young people. A gift to the Council Endowment Fund truly is the gift that keeps on giving — forever!

The Scouts of today will be the leaders of tomorrow in business, education, government, and all walks of life. 

Bringing the benefits of Scouting to the family, community, nation, and the world presents a great challenge for today and in the years ahead. Achievement of our objectives largely depends on the scope and vigor of the Scouting program. 

Maintaining and expanding our program outreach to youth will become increasingly difficult in the years ahead. Innovative and relevant programs, to attract and hold youth, will require new and increased financial support. Funding from traditional sources becomes more challenging each year. In response to this challenge, the council is committed to further develop and expand the endowment trust fund. 

The Boy Scouts of America nationally offers three distinct endowment recognition awards. These awards are presented by the local council to donors who support Scouting’s financial future with council endowment gifts. Those programs are:

THE JAMES E. WEST FELLOWSHIP PROGRAM

James E. West was the first Chief Scout Executive of the Boy Scouts of America, and he served in that position for more than three decades. The West Fellowship award is available for gifts of $1,000 and up in cash or marketable securities to a council endowment fund. The gift must be in addition to – and not replace or diminish – the donor’s annual Friends of Scouting support. Many individuals and corporations make these gifts either on behalf of someone else – such as in honor of an Eagle Scout, Silver Beaver recipient, a retirement, a special accomplishment, or anniversary – or in memory of a special individual. If an institution is truly "the lengthened shadow of one man," it is more than fitting that the Boy Scouts of America honor James E. West’s significant contributions to Scouting in such a significant way.

THE 1910 SOCIETY

Founded in 1910, the Boy Scouts of America has grown into something larger and more significant than anyone anticipated. We honor that special date by presenting the 1910 Society award to donors who make gifts of $25,000 or more to their council endowments. These gifts can be in the form of cash, securities, land, five-year pledges, or other property suitable for a council endowment fund or easily converted to cash. There are four levels of recognition in the 1910 Society that honor four very special individuals who shaped modern-day Scouting:

         1) Ernest Thompson Seton, nationally known artist and naturalist, author of the first
           official American Scout handbook and many other books important to Scouting; 
           Seton Level membership: $25,000 minimum gift

        2) Daniel Carter Beard, first chairman of the National Court of Honor, national Scout
           commissioner, and author of many well-known books and stories for youth;
           Beard Level membership: $100,000 minimum gift

        3) Theodore Roosevelt, first Chief Scout citizen, first vice president of the BSA, and
           resident of the nited States; Roosevelt Level membership: $500,000 minimum gift

        4) Waite Phillips, one of the BSA’s first benefactors, and donor to the BSA of almost
          130,000 acres of land New Mexico which became Philmont Scout Ranch:
           Phillips Level membership: $1,000,000 and up

THE FOUNDERS CIRCLE 

The newest level of endowment recognition, the Founders Circle, is intended to recognize deferred gifts designated for council endowment funds. With deferred giving (also called planned giving) so widely and effectively used by so many donors, the BSA 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, a donor may qualify for membership with gifts made through:

• Charitable bequests in a will or 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 local council
  
  

As with the 1910 Society, there are four levels of membership within the Founders Circle. They are:

• 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.

SCOUTING HERITAGE SOCIETY

In an effort to encourage support for the endowment trust fund, the council has established the Scouting Heritage Society. Its objective is to encourage men and women who believe in Scouting to invest in its future through a gift to the endowment fund of $2,500 or more. Gifts may be outright, deferred, or will bequests.

WAYS OF MAKING A GIFT

Outright Gifts
Outright gifts of cash, securities, real estate or tangible personal property such as coins, stamps, antiques, etc., can be donated. The law provides generous tax deductions and incentives for these gifts. Ask for specific tax information on a gift of this type.

Bequests
After personal and family needs are met, donors can bequeath a specific amount or a percentage of their remainder estate to the council. Contributions by bequest are deductible from the taxable estate as a charitable gift. The council can be named a beneficiary, or, if family obligations preclude doing this, the council can be named a contingent beneficiary in the event the first-named beneficiary (ies) should not live to receive the inheritance.

If the donor’s will is already written, a simplified codicil (a supplement or addition) can be added to the existing will.

BSA Pooled Income Fund
The BSA Pooled Income Fund is a charitable remainder trust approved and registered with the IRS to which donors can make irrevocable gifts of cash or securities with a value of $5,000 or more. The donor’s gift is pooled with other gifts and invested. Income from that investment is paid to the donor quarterly for the rest of his or her life. The donor receives an immediate tax deduction and, if appreciated securities are given, the donor pays no capital gains tax. After all life income rights have terminated, the remainder interest is transferred to the endowment trust fund.

A Gift of Life Insurance
A life insurance policy, purchased a number of years ago (for children who are now economically self-sufficient), can be irrevocable assigned, naming the council as the ultimate beneficiary and owner. The donor receives a tax deduction for the approximate cash value of the policy, as well as a tax deduction for maintaining the annual premiums. The same benefits apply to the donation of a new policy. The donor also has the option of naming the council as a continent beneficiary to whom proceeds can be paid if the primary beneficiary predeceases the insured.

Charitable Remainder Trusts
Charitable remainder trusts can be established by donors, either in the form of a unitrust or annuity trust. Various kinds of property can be put into these trusts which give the donor an immediate tax deduction as well as other tax advantages. Income is provided to designated beneficiaries for life or for a term not to exceed 20 years. The unitrust can have additional gifts added to it from time to time and it provides a flexible rate of return. The annuity trust, however, cannot be added to once the initial gift is made. It provides a fixed, guaranteed income. The remainder gift is transferred into the endowment fund.

Charitable Lead Trust
A donor can establish a charitable lead trust for a fixed period of years. During this time the income generated from the trust goes into the council’s endowment trust fund. The donor receives a tax deduction every year, and after the fixed period, the trust assets revert to the donor who can then use the income for children, grandchildren, etc.

Memorial/Tribute Fund
Occasionally, donors may desire to pay tribute to an individual. Commemoration gifts made to the council’s memorial/tribute fund become part of the endowment trust fund.

Gift Annuities
The gift annuity is an established method of providing fixed income payments to the donor or others for their lifetime.

The amount received is determined by the size of the gift and the age(s) of the donor or other beneficiaries. However, the income received is guaranteed and not subject to market fluctuations. The remainder gift, after all life income rights have terminated, is transferred into the endowment trust fund.

Gift of Farm or Residence
Donors can contribute a farm or residence by irrevocably signing the property to the council while retaining the right to live on it for the rest of their lives. By making this gift the donor receives an immediate tax deduction as well as other tax advantages, and the council ultimately receives possession of the property for its use.