February, 2009: "The Foundation and Planned Giving - Your Will and Living Trust"

by Mike Bourland
American Football Coaches Foundation

Courtesy: AFCA
Release: 02/01/2009

Planned Giving is the structured and pre-planned way to donate to The American Football Coaches Foundation (“The Foundation”).  It is charitable giving to The Foundation through multiple tax and estate planning methods, such as Wills, cash gifts, appreciated property gifts, IRA gifts, personal residence remainder interest gifts, life insurance gifts to name just a few.

The goal of the AFCA is to provide education for American football coaches so that they can better serve the public, not only through the enhancement of their technical skills and coaching capabilities, but also through role modeling and character development for young men and young women.  AFCA provides substantial benefits to its member coaches, at an extremely low cost, including the annual convention that all have the opportunity to attend and from which all can benefit.  In order to provide these benefits, the AFCA must have available a large amount of capital.

The goals of The Foundation are to provide education and education funding for American football coaches to help them better serve the public through their role modeling and character development function and to enhance the coaches’ technical skills and coaching capabilities. 

The AFCA is a tax exempt trade organization. Contributions to the AFCA do not qualify for an income tax charitable deduction to the donor.

The Foundation is a publicly supported, tax-exempt charity. Contributions to the Foundation qualify for an income tax and estate tax charitable deduction to the donor.

To meet the requirements of a publicly supported, tax exempt charity, the Foundation must receive at least one-third (1/3) of its support from a broad range of donors, which includes AFCA member coaches.  That is why your annual contributions and membership payment are anticipated and crucial to the success of the Foundation.  For every dollar from an AFCA member coach, the Foundation can receive two additional dollars from a larger donor or donor foundation without endangering the Foundation’s favorable publicly supported, tax exempt charity status. 

The Foundation can be supported by your acquisition of a Bench, Plaque, Capstone, Tile or Brick in the Plaza of Influence.  The Plaza of Influence presents a tremendous method for AFCA member coaches, as well as the general public, to prominently honor a special football coach and to make a contribution to the Foundation.  The Plaza of Influence is a stone-lined plaza located at the AFCA/Foundation facility.  For a contribution to the Foundation ranging from $2,000 for a Bench, to $200 for a Brick, you or anyone within your sphere of influence can have an inscription for, as well as a brief salute regarding, a special football coach imprinted on that which you acquire.  The inscription will honor this special football coach and will be a permanent part of the Plaza of Influence, which is a significant aspect of the AFCA/Foundation facility.  Payment for each item will be treated as a contribution to the Foundation and will be income tax deductible to the donor. 

The conduct of fundraising events in your community, such as banquets and golf tournaments, for the Foundation’s benefit is an excellent way to develop funds for The Foundation.  Proceeds from admissions, sales of merchandise, performance of services, or furnishing of facilities at an event are classified as “gross receipts” funds of the Foundation.  Gross receipts funds should target a broad base of the community, as no single person can provide more than 1% of the Foundation’s total support through gross receipts and have it count toward maintaining the Foundation’s favorable publicly supported, tax exempt charity status. 

A simple and very basic way for member coaches and those within the coaches’ sphere of influence to make gifts to The Foundation is in their Will and Living Trust.  A coach or someone within his sphere of influence can make a significant gift to The Foundation by naming The Foundation as a beneficiary of the person’s Will or Living Trust.

Through the Will, the donor names The Foundation as a beneficiary in his or her Will resulting in the transfer of property to The Foundation upon the donor’s death. 

Through the Living Trust, the donor transfers property in trust during the donor’s life, solely for the benefit of the donor during the donor’s life, and at the donor’s death, the property passes to The Foundation.

Because The Foundation is a publicly supported, tax exempt charity, the estate of the donor receives an estate tax charitable deduction for the value of the property passing to The Foundation at the donor’s death under the Will or through the Living Trust.  However, no income tax charitable deduction for the value of the property passing to The Foundation, whether under the donor’s Will or through the donor’s Living Trust, is allowed to the donor or the estate of the donor.

Will you consider making a gift to The Foundation through Your Will, Living Trust or some other Planned Giving Technique?  Will you encourage others to do this?  Will you continue to plan and conduct fund raising events in your community for The Foundation’s benefit?   Have you acquired (and encouraged others to acquire) a permanent salute in the Plaza of Influence for the special football coach in your (or others) life?  Remember that The Foundation absolutely must have the participation of every member coach in order for The Foundation to meet its goals. 

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“Coach George Smith is not only an influence on young people, but the influence is multiplied many times in the beliefs of the young people he helped mold into amazing human beings. George is an outstanding coach, but more importantly, he is an outstanding gentleman.” —Tina Jones, Principal of St. Thomas Aquinas High School