News and Events

Charitable Gift Annuity Rates Are Going Down-Is Now the Time to Act?

If you are ago 60 or older, and have a desire to support the Lancaster Family YMCA, a Charitable Gift Annuity may be a giving option you should consider. The mechanics of a gift annuity are fairly simple. A donor makes an outright gift of $10,000 or more to the Lancaster YMCA Foundation and in return, the Lancaster YMCA Foundation agrees to pay the donor an annual fixed annuity payment for the rest of their life. The amount of the annuity payment is based upon the donor's age and suggested rates established by the American Council on Gift Annuities.

The American Council on Gift Annuities has just published new annuity rates that will become effective on January 1, 2012. On average, the rates are .5%-.8% lower than current rates. For example, a 70 year old donor would qualify for an annuity rate of 5.8% for gift annuities established on or prior to 12/31/2011. That same donor would receive an annuity rate of 5.1% for gift annuities established on or after 1/1/2012.

Charitable gift annuities may be funded with appreciated assets as well as cash. In addition to the annual annuity payment, donors will receive an immediate charitable deduction for a portion of their gift. Please contact Susan Broomell, Advisor for Planned Giving, at sbroomell@epix.net for more information or call the Lancaster YMCA Foundation at 717-393-9622, ext. 337.

Endowment Campaign Kick-Off

"Count Me In"

On November 18, 2010, Endowment Committee Chair Pete Slaugh and his wife Kit hosted the "Count Me In" Kick Off event at their fabulous home. Guests who had received a special "Count Me In" invitation were greeted by several Lancaster City mounted police officers as they arrived. The excitement had begun!

As guests wearing "Count Me In" buttons enjoyed soup and butlered hors d'ouvres, they mingled with local dignitaries, community leaders and friends of the Lancaster Family Y. In the Slaugh's home, various numbers, statistics and questions were placed on doorways, windows, and mirrors. Questions included "Number of children living in high poverty neighborhoods in Lancaster County?", "% of Children in Y Youth Center programs living in single parent households?", and "# of kids served by Y programs in Lancaster County?"

Before announcing the goal for the new Endowment Campaign, Pete Slaugh shared with the excited group why the Y was so important to him and his family. Pete said, ""I was a Y kid growing up in Lancaster---as was my father before me. Our family holds the Y in great regard and trust that our family will do the same for generations to come," commented Slaugh. Pete shared that the goal of the campaign is to raise $2.5 million which will double the size of the current endowment fund. The campaign is expected to be funded primarily by planned and estate related gifts.

Foundation Chair Jim Saxton spoke about the history of the YMCA Foundation including the work of so many dedicated Y leaders whose passion developed and grew the Foundation to its present size. Doubling the size of the endowment fund, which is just the first step in the endowment building process, will allow the YMCA to provide financial assistance to an additional 600 people each month.

Jeff Kenderdine, Lancaster Family Y CEO, had the privilege of sharing the answers to some of the questions positioned around the rooms. Jeff shared that the Lancaster Family YMCA has already provided over $800,000 in financial assistance in 2010. He also shared that Y currently has over 16,000 members across Lancaster County. In addition, Jeff told us that at least 23% of the current Y Youth Center members have at least one parent incarcerated. Finally, and most importantly, when this campaign is successful, the Y will have the resources to increase the number of kids served in Lancaster County from 1 in 20 served to 1 in 10 served.

Finally, Sam Bressi from the Lancaster County Community Foundation formally announced that the Community Foundation has committed $85,000 to this endowment building initiative; enabling the YMCA to further develop and expand their planned giving program in order to support its mission long term.

This extremely enjoyable and successful event was a great start to this important campaign. Guests left with a special memento detailing all the powerful numbers and statistics they had heard that evening, a powerful reminder of the way their involvement can and will make a difference in the lives of so many!

Endowment Campaign Report