IMPACT Preserving the legacy of the YMCA
summer 2014
LEAVING A LEGACY
DONOR PROFILE
When asked why they give, Bev, Steve, and Dru Miller all had similar responses. First, giving was mentored for them at home. Bev Miller, 88 years old this August, grew up in Everett. “Mom and daddy did not have a lot of money back then, but they were always lending a helping hand to anyone in need,” said Bev. Pat and Bev Miller passed on the value of a dollar and a solid work ethic to their children, Steve and Bonnie. Bev found her passion for giving with the Assistance League and Providence Hospital Guild 8, and is still involved with these organizations today. Pat and Bev made plans to support causes their children believed in. The Millers are passionate about positively influencing youth; particularly youth without equal access to opportunities so many of us take for granted. Appreciating and celebrating cultural diversity is also important to them. They believe if you give to youth and teach youth to give, the impact will be multiplied.
Steve and Dru met at Club Med and married in 1986. They moved to Everett in 1992. Dru was looking to get involved in her new community and found philanthropy through volunteering. “Giving is personally satisfying and I have developed some very close friends as a result of our work in the community,” said Dru. Steve was asked to join the Everett YMCA Wellness Committee and later joined the Everett Board in 1996. Dru enrolled their children in swim lessons and in the early 2000s began to chair the Everett YMCA’s Bright Futures Auction. She has held a leadership role in the auction for the past ten years. Dru continues her involvement in the Y because of the relationships she’s developed, the energy of the folks involved, and the impact of the Y. “As a Jewish woman from Los Angeles, I was wondering how I would connect with the Y,” said Dru. “I feel valued and appreciated. It’s a warm, fuzzy feeling.” The Millers have made a $120,000 donation to the YMCA of Snohomish County Endowment Fund, have pledged a very significant gift to the new Everett YMCA capital project, and regularly donate to the Annual Campaign, Campership Fund, Bright Futures Auction, and Minority Achievers Program.
The Millers have received countless Steve grew up swimming and scuba benefits from giving, including meaningful Bev, Dru and Steve Miller diving at the Everett Y. He reconnected his friendships. “My dad was a smart, successful, dad to the YMCA and completed a college giving guy,” said Steve. “I want to live up to and internship there. “The Y’s mission focused on health and surpass the standard he set for us.” wellness through the development of relationships,” said Steve. “I saw great value in this.” Through their giving to the YMCA, the Millers are experiencing the impact this has in the community and will Steve’s wife Dru was raised in Los Angeles and recalls a leave a positive legacy for the future. similar home environment with her parents Harvey Krasner and Yvette Tishkoff. “We supported our synagogue and related causes,” said Dru. “My mom was always writing a check to help someone. We do the same in our household. If my kids are participating in an activity, I make sure a The Y brings the community together. child who cannot afford it is also going.”
STEVE’S SIX-WORD MEMOIR:
Financial Assistance: The YMCA of Snohomish County makes every effort to ensure that no person, especially youth, will be denied access to programs and membership because of financial hardship. The YMCA’s Financial Assistance Program is supported by contributions to our Annual Campaign and United Way.
Mission Statement: To inspire, nurture, and strengthen culturally vibrant communities through youth development, healthy living, and social responsibility.
Everett Family Branch 2720 Rockefeller Ave. Everett, WA 98201 425 258 9211
Marysville Family Branch 6420 60th Drive NE Marysville, WA 98270 360 653 9622
Mill Creek Family Branch 13723 Puget Park Drive Everett, WA 98208 425 337 0123
Monroe Family Branch 14033 Fryelands Blvd. Monroe, WA 98272 360 805 1879
Mukilteo Family Branch 10601 47th Place West Mukilteo, WA 98275 425 493 9622
A Message From The Endowment Committee Chair Dear Heritage Club Friends: As your Endowment Committee Chair and a Heritage Club member, I have truly enjoyed my most recent participation with our YMCA of Snohomish County. I love the unique investment I can make through the YMCA of Snohomish County’s Endowment Program. It is my favorite “fiscal fitness” program at the Y.
Jeff Dunleavy
When I’m out in the community I see the impact of the Y every day: • • • • • • •
I see children in local restaurants proudly wearing their Y sports jerseys. I see families picking up their children from YMCA Child Care sites. I see growing numbers of MAP (Minority Achievers Program) teens filling high school common areas and cafeterias after school. I experience the positive impact and growth of new YMCA initiatives such as the YMCA Casino Road Youth Development Center. I visit with Y friends and family at our annual Heritage Club Dinner and other YMCA events. I have the opportunity to attend program grand openings. In my work at WorkSource Employment, I see former MAP students engage in their first job search. Do you know how easy it is to recommend a YMCA High School MAP student to an area business for employment?
Planned giving is the way to support our community’s future in spite of economic ups and downs. Contributions to our Endowment Fund ensure the Y’s good work will continue for generations to come. Even when we’re no longer here to contribute. The amount you and your family pledge is up to you, and can ebb and flow as life changes.
Stanwood-Camano YMCA Initiative
If you are not already a Heritage Club member, please contact your local YMCA Branch Executive if you are interested in learning more about this program.
8823 Viking Way Stanwood, WA 98292 360 629 9622
Thank you for the opportunity to serve as your Endowment Chair these past three years. The YMCA warms the hearts of those who participate. You will feel it.
Big Brothers Big Sisters 2722 Colby Ave., Ste. 415 Everett, WA 98201 425 252 2227 Impact is published biannually by the YMCA of Snohomish County to provide planned giving information to friends of the YMCA. Colleen Temple, editor, 425 374 5738 or ctemple@ ymca-snoco.org If you wish to be removed from the mailing list, please call or email the editor. For more information on YMCA programs and services, visit www.ymca-snoco.org
Jeff Dunleavy Chair, Endowment Committee YMCA of Snohomish County
PLAN GIVE IMPACT RESOURCES AT YOUR FINGERTIPS
The YMCA Planned Giving website is a useful tool for Heritage Club members, Y members, donors, volunteers, and professional advisors. The website features:
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• A comprehensive library of articles covering ways and what to give, together with estate planning basics. The site contains fresh content every month.
Watch us on YouTube: youtube.com/ymcaofsnohomishco
• An array of interactive tools including Stelter’s research-based Plan-by-Life-Stage Library, Build Your Gift, Compare Gifts, Quiz Yourself, Gift Calculator complete with automated responses, and free eBrochures. • A special section for professional advisors containing comprehensive technical articles. Visit the site today at ymca-snoco.org/plannedgiving
WHAT IS A DONOR-ADVISED FUND? By Loren Van Loo, Financial Advisor YMCA Endowment Committee Donor-Advised Funds are one of the fastest growing charitable vehicles. Often called a charitable giving fund, a donor-advised fund is an investment vehicle that allows an individual to make an irrevocable gift to a charity. The donor receives immediate income tax benefits as a result of the gift while maintaining the ability to direct how the assets are invested, to whom they are distributed, and when. How it Works Step 1: Give – Setting up a donor-advised fund is similar to establishing a retail investment account. The client makes an irrevocable contribution of cash, securities, or collectibles into a donor-advised fund. An account is set-up at the fund in the name of the client such as The Smith Family Education Fund or The Jones Family Charity Fund. Note: Contributions into donor-advised funds are considered irrevocable gifts; meaning once received and accepted by the charity, funds cannot be returned to the donor. Step 2: Invest – Contributions are invested in professionally managed portfolios of funds selected by the client. Assets invested grow tax free, providing the potential for larger grants in the future. Step 3: Grant – While the tax deduction is taken immediately, donors can recommend distribution to their chosen charity at the donor’s discretion. Advantages of Donor-Advised Fund: 1. Establish a Legacy – Charitable giving can create an on-going gift that will benefit the donor’s community for generations. 2. Income Tax Benefits – Contributions are eligible for an upfront federal income tax deduction in the tax year in which the contribution is made based on the donor’s individual tax situation. 3. Estate Tax Benefits – Contributions may be removed from the donor’s estate and therefore may not be subjected to estate or probate taxes. 4. Simplicity – Donors enjoy simplified, comprehensive administration for their charitable giving planning. A single contribution can benefit multiple charities while only requiring one tax substantiation letter. You should consult with your tax professional for advice about your specific situation.
?
DID YOU KNOW
There are almost as many variations on ways to make a donation as there are needs to be met. Explore the Ways to Give section on the Planned Giving website to discover new ways to make a gift that also take into consideration your personal circumstances and the needs of your heirs. • • •
Gifts that pay you income. Gifts you make today. Gifts that make an impact after your lifetime.
Visit the site today at ymca-snoco.org/plannedgiving
ENDOWMENT COMMITTEE MEMBERS Brenda Baltrusch Jeff Dunleavy Brian Evans Herb Fox Dan Leach Jason Lucas Dick Lyons Matt Martin Dawn Ollar Loren Van Loo Don Whitfield
YMCA OF SNOHOMISH COUNTY 2720 Rockefeller Ave. P. O. Box 419 Everett, WA 98206-9923
NONPROFIT ORG. U.S. POSTAGE PAID EVERETT, WA PERMIT NO. 134
SO WHAT HAPPENS TO YOUR WILL
AFTER YOU’RE GONE?
So you have your will—or are ready to create one—and you are already wondering what exactly happens to it after you pass away. Well, after your lifetime, your will goes through what is known as probate, the legal procedure by which the courts oversee that your assets are properly distributed. In general, if you leave a will, the will is submitted to a court for legal review. If you die without a will (called intestate), a court becomes responsible for ensuring that your estate is distributed according to your state’s intestate succession laws. A number of steps occur in the probate process, including: • • • • • • •
Your will and any codicils (separately written amendments to your will) are submitted to the probate court. An executor is appointed to act on behalf of your estate. People and businesses that have claims against your estate or owe money to your estate are notified. Your estate’s assets are inventoried. Any valid claims or bills are paid from your estate. The court determines when your estate is ready for distribution. Your estate’s assets are divided among your designated beneficiaries.
Depending on your estate, several additional steps may be involved. It is also important to note that laws about wills and probate vary from state-to-state. If you move to another state, it’s a good idea to have an estate planning attorney review your will to see if it is valid in your new state.