Giving Options

Please click on the tabs below to learn how you can make a charitable contribution to Connecticut Yankee Council.

Disclaimer: This webpage is designed to provide general and accurate information about charitable giving. It is posted with the understanding that it is for information only and the Connecticut Yankee Council, Boy Scouts of America is not engaged in rendering legal, accounting, or other professional services. If legal advice or other expertise is needed to review or advise you on your financial situation, the services of a competent professional should be sought.

Gifts of cash have always been the most basic and important source of support for Scouting. They are easy and popular, and offer a tax deduction equal to the full value of the gift. The net cost of a gift decreases for donors in the higher tax brackets (assuming they can itemize their deductions). Gifts of cash are deductible up to 50 percent of your adjusted gross income each year. Unused deductions may be carried over and used for five years after the gift is made. These gifts are considered made on the date it is hand delivered or mailed. So, a year-end gift mailed in December is deductible that year, even if not received by the council until January. Income producing interests, such as oil and gas or mineral interests, mortgage income, or copyrights, may also be contributed to produce a continuing source of cash for Scouting.

Publicly Traded Securities

A gift to Scouting of stocks or bonds may provide you with even greater tax benefits than a cash gift of equal value. This is especially true for securities that have appreciated in value and could generate capital gains tax if sold.

Many donors make gifts of appreciated securities because they can avoid paying capital gains tax on them, and take a charitable deduction for the full market value of the securities (if owned for at least one year). But we suggest not donating securities worth less than you paid for them. It may be better to sell the stock, report your loss for tax purposes, then donate the cash proceeds.

Securities held less than one year may be donated, but your charitable tax deduction will be limited to your cost basis. Though there may be advantages to giving short-term property with little or no appreciation (see below), you should discuss this with your own tax adviser.

Gifts of stock you have owned for more than a year are deductible up to 30% of your adjusted gross income (AGI) every year. If held for less than a year, they are deductible up to 50% of your AGI every year. Excess deductions may be carried over for five years after the year of gift.

Closely Held Stock

Often very highly appreciated in value (and expensive to sell), gifts of closely held stock offer the same tax advantages as a gift of common stock. In fact, some donors use these gifts as a way of either transferring ownership interests to others such as family members, or regaining control of the shares and establishing a new cost basis for the stock.

Though the advantages of closely held stock gifts are similar to those of publicly traded stock gifts, an appraisal may be required to establish the market value of these shares. Please consult your tax adviser.

Stock Options

A gift of stock options can be just as valuable to a local council as a gift of the stock itself. It is also a painless way to make a gift; you’re giving away something you don’t actually own yet. These gifts will not produce an immediate tax deduction, since the value of the gift cannot be determined until the option is exercised by Scouting. But when the option is exercised, you are entitled to a tax deduction equal to the difference between the option price and the stock value.

Transferring Stock

Please contact us for wire transfer instructions and to let us know that you are making a transfer and security name so that it can be identified. For more information on how to make a stock gift, please contact Joseph Andreo at (203) 951-0518 or

Outright Gifts

With the continuing increase in property values, many people find that their real estate is their greatest asset. But these assets often carry a high price: property tax and maintenance costs, if held; capital gains tax, if sold. A gift to Scouting of property residential, rental, vacation homes, farms, commercial, undeveloped, or even land rights such as oil, gas, water and mineral rights may offer significant benefits.

Generally, outright gifts of real property entitle you to:

  • Avoid the capital gains tax on any appreciation in value, and
  • A charitable income tax deduction based on the fair market value of the property.

Example: A donor invested $20,000 in a piece of land many years ago. It is now worth $100,000. If he contributes it to his local council, he is entitled to a deduction of $100,000 on his income tax return.  Also, he will not owe the capital gains tax which would be due had he sold the property (a savings of $16,000).

Before deciding on a gift method, you will need to know: 1) the appraised value of the property; 2) your basis and any debts or liens on the property; and 3) your plans for, and any family interest in, the property. Also, discuss your gift with the council to determine how or if the property will be used in its program or if there are any environmental concerns.

As with gifts of stocks and bonds, land held for more than one year is deductible up to 30% of a donors AGI for the year. If held for less than a year, it is deductible up to 50% of AGI for the year, but the deduction will be limited to the propertys cost basis. The five year carryover rule applies here as well.

Property with a mortgage or lien usually does not make a good gift. The tax deduction will be reduced by the debt amount, and the donor is also treated as having taken a similar amount into income, regardless of who is responsible for the debt.

Bargain Sales

A gift of real estate does not have to be an all-or-nothing proposition. You may donate a partial interest in the land or any accompanying land rights instead of donating the entire property. You receive a deduction based on the appraised value of the interest you donate. When the property is sold, the proceeds are distributed accordingly. This is referred to as a gift/sale arrangement.

Example: A donor has a ten acre parcel of land worth $100,000. She is concerned about giving away the entire property. She instead donates three acres of it to her local council. She gets a deduction of $30,000 right away and, when the property is sold, the council gets 3/10ths of the sales proceeds (the donor gets the other 7/10ths). Its also very possible that her tax deduction will completely offset the capital gains tax she will owe on her part of the proceeds.

Another option is the bargain sale. Just like it sounds, its where a donor sells the property to the council at a bargain; its part sale, part gift. The council gets a good deal and the donor gets a tax deduction for the difference between the sale price and the value of the property.

Example: A donor has a property worth $150,000. He wants to help his council, but cant afford to give away the entire property. He agrees to sell it to the council for 1/3 of its value. He gets $50,000 cash (either all at once or over time), a charitable tax deduction for $100,000, and owes capital gains tax only on his pro rata share (1/3). The council gets a property worth three times its price and can do whatever it wants to with it.

Some people anticipate a gift to Scouting of a home, vacation home or farm sometime in the future, but may not want to give up the use of their property yet. Its possible to do both with a life estate gift. Its simply a contract arrangement where you give Scouting the rights to your property after your lifetime, but you keep the right to use and enjoy it for the rest of your life (or the life of another). If the property is income producing (e.g., from rent, crops, timber, etc.), youre also entitled to keep any income it produces during your lifetime.

Though Scouting has no right to use or possess the property until after your lifetime, you receive an immediate income tax deduction for part of the propertys value. Also, the property wont be in your estate at death, so your estate may save taxes and probate costs as well.

Example: Mr. and Mrs. Donor, both about 70, have a vacation home worth about $200,000. They use it a few weeks a year and rent it out the rest of the time. They plan to do something for their local council, but dont want to give up their vacation home yet. They make a life estate gift with their council. They continue to use the property just as always.  They still get all the rental income, it is no longer in their taxable estate, and they also get an immediate income tax deduction of about $68,000. Only at the end of their lifetimes can the council use the property.

If you make a life estate gift, and at some point decide you no longer want to use your property, you can simply give the council your remaining rights in the property and receive additional tax benefits at that time.

The value of a tax deduction for a life estate gift is determined by the value of the land and the age of the life tenants. The older the donor, the larger the income tax deduction.

Life insurance plays an important role in the estate plans of many people. Though most people have some form of insurance, its common to have a policy that may no longer be needed for its original purpose. For example, do you have a policy:

  • To provide money for a spouse or children who no longer need it?
  • To cover a mortgage on a home or other property that is now paid off?
  • To cover educational expenses youve already paid from other funds, or to protect a business that no longer exists or needs help?

It may be beneficial to donate such policies to Scouting. Many donors also buy new policies to give to their local council. In general, if you donate a new or existing policy to Scouting, you can deduct from your income taxes an amount roughly equal to the policys cash surrender value, as well as any annual amounts you pay to help keep the policy in effect.

Example: A donor has a $50,000 life insurance policy she no longer needs. It has a cash surrender value of about $32,000 and she continues to make annual premium payments of $1,100. If she names the council owner and beneficiary of the policy, she receives a tax deduction of about $32,000. She also receives a deduction for her annual gifts to the council to help keep the policy in force.

There are a number of ways you can use life insurance in your charitable gift planning for Scouting:

  1. Name your local council as primary or secondary beneficiary of an existing policy.
  2. Name your council owner and beneficiary of an existing policy.
  3. Buy a new policy and contribute it to the council.
  4. Buy a policy on the life of someone else and contribute it (for donors who may not qualify personally for affordable coverage).
  5. Buy a policy that benefits your heirs to replace a gift to Scouting youve already made.

Example: A donor gives his council highly appreciated land worth $100,000. However, his children were not excited about losing part of their inheritance. So the donor replaces the land with a $100,000 second-to-die policy and names his children as beneficiaries. He pays for the policy with part of the tax savings he got from his land gifts charitable deduction. The children are happy again.

Income tax deductions for a gift of insurance may vary depending on the type of policy donated. Seek advice from your own advisor, and get an appraisal of your policys value before you donate an existing policy.

You will receive a tax deduction, and the value of the policy will be removed from your estate for probate purposes, only if you name a charity both owner and beneficiary of the policy.

If you were considering selling or trading an unwanted car, boat, or RV, why not donate it to the Connecticut Yankee Council? Your donation will go a long way in assisting programs that assist the more than 12,000 youth in our community. The connecticut Yankee Council has implemented a program that will provide you with a fast and efficient way to donate your asset and receive a tax deduction up to the maximum allowable by the IRS.

Donate a vehicle to charity, and One Car One Difference will convert it into cash for a non-profit of your choice.

One Car One Difference is a national public awareness program presented by the Insurance Auto Auctions’ Donation Division to support car donations to charities nationwide. Your donated vehicle will be sold at auction, and the proceeds will be given to the charity you designate. Your vehicle donation will help make a real difference to people in need.

We’ve made the car donation process as simple as possible for you. To donate your car, complete our easy-to-use online vehicle donation form, or call our donation specialists at (855)BSA-1car (855-272-1227) or e-mail The One Car One Difference vehicle donation program is a quick and easy way for you to help. Donate a vehicle today!