Planned Giving
A great way for you to support BYEP's mission is to leave us a bequest in your will, codicil or living trust. By making a planned gift, you will ensure your assets continue to have a positive impact in your community long into the future. We are proud to be equipped to handle a planned gift of land, capital, equity, or cash.
Why make a planned gift?
In addition to creating a legacy, a planned gift is revocable, meaning it can be changed or adjusted at any time. Also, there is a lot of flexibility in where your gift goes. You can choose to support a general or specific purpose with the peace of mind that your gift will go exactly where you want it to go. Also, keep in mind that bequests are exempt from federal estate taxes. The benefit here is that if you have a taxable estate, the estate tax charitable deduction might offset or eliminate estate taxes. This could result in a larger overall inheritance that is left for your loved ones.
What are the different types of planned gifts?
There are many different types of planned gifts, but here are a few that might be of interest.
Specific Bequest. A specific bequest is a gift of a specific asset. This could include a car, real estate, or a gift for a specific dollar amount. For example, you may decide to leave a piece of property or $20,000 to BYEP.
Percentage Bequest. One type of a specific bequest includes making a gift of a certain percentage of your overall estate to charity. For example, you may consider leaving 10% of your estate to BYEP.
Residual Bequest. A residual bequest is created from the balance of an estate after specific bequests are met. Commonly an individual would make a residual bequest as a percentage of the balance of the estate to charity. For example, you may consider leaving 20% of the balance of your estate to BYEP.
Stock. If you would like to make a gift of stock, BYEP is able to accept that, too. For stock gifts please contact Carl Nystuen at D.A. Davidson at CNystuen@dadco.com or (406) 212-0609.
How do I make a planned gift?
In order to make a bequest, we recommend talking with your attorney. Your attorney can help you include a bequest to BYEP in your estate plan. We have provided some sample language for you and your attorney to consider when setting up your planned gift.
Make a planned gift for a specific dollar amount to general operating.
I hereby give, devise and bequeath _________ and No/100 dollars ($DOLLARS) to Big Sky Youth Empowerment Project Inc., a 501(c)(3) nonprofit organization located at 225 E. Mendenhall Ave., Bozeman, MT, 59718, Federal Tax ID #81-0543203, for BYEP's general use and purpose.
Make a planned gift for a specific dollar amount to BYEP's Endowment.
I hereby give, devise and bequeath _________ and No/100 dollars ($DOLLARS) to Big Sky Youth Empowerment Project Inc., a 501(c)(3) nonprofit organization located at 225 E. Mendenhall Ave., Bozeman, MT, 59718, Federal Tax ID #81-0543203, for the BYEP Endowment managed through the Bozeman Area Community Foundation.
Make a planned gift for specific personal property.
I hereby give, devise and bequeath DESCRIPTION OF PROPERTY to Big Sky Youth Empowerment Project Inc., a 501(c)(3) nonprofit organization located at 225 E. Mendenhall Ave., Bozeman, MT, 59718, Federal Tax ID #81-0543203, for BYEP's general use and purpose.
Make a planned gift of Real Estate.
I hereby give, devise and bequeath all of the right, title and interest in and to the real estate located at ADDRESS OR DESCRIPTION OF PROPERTY to Big Sky Youth Empowerment Project Inc., a 501(c)(3) nonprofit organization located at 225 E. Mendenhall Ave., Bozeman, MT, 59718, Federal Tax ID #81-0543203, for BYEP's general use and purpose.
Make a percentage bequest.
I hereby give, devise and bequeath ____ percent (___%) of my total estate, determined as of the date of my death, to Big Sky Youth Empowerment Project Inc., a 501(c)(3) nonprofit organization located at 225 E. Mendenhall Ave., Bozeman, MT, 59718, Federal Tax ID #81-0543203, for BYEP's general use and purpose.
Make a residual bequest.
I hereby give, devise and bequeath Big Sky Youth Empowerment Project Inc., a 501(c)(3) nonprofit organization located at 225 E. Mendenhall Ave., Bozeman, MT, 59718, Federal Tax ID #81-0543203, ALL OR A PERCENTAGE of the rest, residue and remainder of my estate to be used for BYEP's general use and purpose.
If you have any additional questions regarding planned giving with Big Sky Youth Empowerment, feel free to contact our Executive Director Danica Jamison at danica@byep.org.