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New York City’s YMCA Where There’s a Y, There’s a Way

Member Profile: Mary Elizabeth Wendt

Mary Elizabeth Wendt

Sustaining the Future

MARY ELIZABETH WENDT goes by the name Ma'lis. She has been a member of the Prospect Park Y for 30 years, as well as an annual donor and a member of our President's Council of regular contributors. She joined the Heritage Society in 2012.

I have been going to the Prospect Park Y in Brooklyn since 1985 for its 60-foot pool. Cost and convenience made it right for me. Later, when I retired, I realized I could go lap swimming every morning. I'm looking forward to the new Olympic-size pool that will open soon.

The Y is always welcoming. The family activity, the swim lessons for young kids, and the youth programs - these are important for this or any neighborhood. I started my career as a young adult librarian so I know the importance of programs for teens and children.

At some point about 10 years ago I started contributing to the Strong Kids Campaign which has now morphed into the Annual Campaign. I like to donate to institutions and programs where I can see results. The Annual Campaign in particular appealed to me because it supported programs for kids.

Y programs empower kids. One of the reasons I contributed was to help kids attend those programs. Many families in Park Slope can't afford to pay for youth activities - it's a diverse neighborhood economically as well as racially and culturally.

During kids' formative years, they need programs that attract them to exercise or otherwise be active so they're not just hanging out and being unproductive. Not every kid needs to be engaged all the time, but in New York it's very hard for kids to just play around in the neighborhood. The Y gives kids the chance to try different things.

A number of my neighbors participate in water aerobics which really helps to keep them moving. I also know the Y does citizenship work and even offers residences for those who might need a place to stay.

I especially like that the Y is local. It never occurred to me not to support the Y, particularly since I was using the facilities myself.

The Y personally invited me to a nice reception and presentation, where I discovered I was one of a very small percentage of people that had given regularly to the Y over a period of time. This just amazed me, so I began to give a little bit more each year after that.

The fact that the percentage of people who give is small surprised me, knowing Park Slope. The people I swim with in the morning come regularly - almost every day. These are the people who use the Y over a long period of time. Granted, we pay membership, but I was surprised that there was such a comparatively small number of people who had given consistently.

Annual giving sustains the services and programs of the Y. For an institution like the Y, it's easier and more effective to count on regular donors than it is to be actively seeking new donors all the time. Of course we want new donors, but we also want more people to be involved at every level.

I became a member of the Heritage Society when I made a gift to the Y's endowment, which creates financial sustainability. With an endowment, you are saving toward the future - building a nest egg that funds important programs. That's why I give to both the Y endowment as well as the Annual Campaign.

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A charitable bequest is one or two sentences in your will or living trust that leave to the YMCA of Greater New York a specific item, an amount of money, a gift contingent upon certain events or a percentage of your estate.

an individual or organization designated to receive benefits or funds under a will or other contract, such as an insurance policy, trust or retirement plan

"I give to the YMCA of Greater New York, a nonprofit corporation currently located at New York, NY, or its successor thereto, ______________ [written amount or percentage of the estate or description of property] for its unrestricted use and purpose."

able to be changed or cancelled

A revocable living trust is set up during your lifetime and can be revoked at any time before death. They allow assets held in the trust to pass directly to beneficiaries without probate court proceedings and can also reduce federal estate taxes.

cannot be changed or cancelled

tax on gifts generally paid by the person making the gift rather than the recipient

the original value of an asset, such as stock, before its appreciation or depreciation

the growth in value of an asset like stock or real estate since the original purchase

the price a willing buyer and willing seller can agree on

The person receiving the gift annuity payments.

the part of an estate left after debts, taxes and specific bequests have been paid

a written and properly witnessed legal change to a will

the person named in a will to manage the estate, collect the property, pay any debt, and distribute property according to the will

A donor advised fund is an account that you set up but which is managed by a nonprofit organization. You contribute to the account, which grows tax-free. You can recommend how much (and how often) you want to distribute money from that fund to New York City’s YMCA or other charities. You cannot direct the gifts.

An endowed gift can create a new endowment or add to an existing endowment. The principal of the endowment is invested and a portion of the principal’s earnings are used each year to support our mission.

Tax on the growth in value of an asset—such as real estate or stock—since its original purchase.

Securities, real estate or any other property having a fair market value greater than its original purchase price.

Real estate can be a personal residence, vacation home, timeshare property, farm, commercial property or undeveloped land.

A charitable remainder trust provides you or other named individuals income each year for life or a period not exceeding 20 years from assets you give to the trust you create.

You give assets to a trust that pays our organization set payments for a number of years, which you choose. The longer the length of time, the better the potential tax savings to you. When the term is up, the remaining trust assets go to you, your family or other beneficiaries you select. This is an excellent way to transfer property to family members at a minimal cost.

You fund this type of trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. You can also make additional gifts; each one also qualifies for a tax deduction. The trust pays you, each year, a variable amount based on a fixed percentage of the fair market value of the trust assets. When the trust terminates, the remaining principal goes to New York City’s YMCA as a lump sum.

You fund this trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. Each year the trust pays you or another named individual the same dollar amount you choose at the start. When the trust terminates, the remaining principal goes to New York City’s YMCA as a lump sum.

A beneficiary designation clearly identifies how specific assets will be distributed after your death.

A charitable gift annuity involves a simple contract between you and New York City’s YMCA where you agree to make a gift to New York City’s YMCA and we, in return, agree to pay you (and someone else, if you choose) a fixed amount each year for the rest of your life.

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