Spring, 2010 - Buffalo Trail Council

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THIS LAND IS YOUR LAND... Page 8 It’s been said that the mark of a well-planned gift is its ability to benefit both the giver and the receiver alike. Sometimes all the giver needs is the feeling that he’s done something good for a good cause. But often, a donor would like to make a gift, but can’t afford to just give away the entire asset. But charitable gifts don’t have to be an all-or-nothing proposition. Land is particularly suitable for structuring a gift that returns some great benefits to the donor. Gift Sale For example, it’s possible to divide title to land, creating a joint ownership with the council. Then, when the land is sold, both the donor and the council receive proceeds of the sale. Retained Life Estate Giving with a retained life estate is simple: you give your personal residence or farm to Scouting now, and retain the right to live there for the rest of your life or for a specific number of years. You may also provide for another person to live there for the rest of his or her life. Your only obligations are to pay the taxes and insurance and to continue upkeep on the property. When the agreement ends, the council can use the property or the proceeds from its sale. The big advantage of this kind of gift is that you are eligible for an income tax deduction now for the property's current appraised value, adjusted for your estimated retained interest. A qualified appraiser helps determine those values. Bargain Sale As the name implies, a bargain sale is "part gift and part sale." A bargain sale generally occurs whenever property is sold to the council for less than its fair market value. The donor is entitled to a deduction based on the difference between the property’s fair market value and the sale price to the council. If the asset in a bargain sale is appreciated capital gain property, gain realized in the transaction is allocated between the gift and the sale portions of the transaction. A bargain sale is an attractive option for individuals who would like to make a gift of property that the council specifically needs or wants, but who also need income from the property and an offsetting income tax deduction. For More Information Thank you for your interest and continuing support of Scouting. We would be pleased to visit with you or your advisors about gifts of real estate, as well as other gift ideas. If you’d prefer exploring gift options on your own, you’ll find some great resources on the internet at www.bsagiftplan.org. You may also want more information about what Scouting and your local council is doing for our youth and community. For more information contact Lyman.Gifford@Scouting.org or (432) 570-7601 Boy Scout Savings Card coming soon….. These cards are for vendors in the Midland/Odessa areas only. All Savings cards are only $10.00 each and the discounts can be used over and over. Page 8 Cards will be available in May 40% Commission available to your troop! Prizes include: Baseball or Soccer Ticket (15 cards sold) iPod Shuffle - Unit Top Salesman (min. 30 cards sold) intendo DSI - District Top Salesman (min. 50 cards sold) Pizza Party for the Top Selling Unit in each District For more information contact Valerie.Acosta@Scouting.org or (432) 570-7601 Or Here!
EXECUTIVE COMMITTEE John Hood ................................................................................................ President Bill Houston ....................................................................... <strong>Council</strong> Commissioner David Garcia ........................................................................ Treasurer/VP Finance David Shipman ........................................................................ Assistant Treasurer Ted Hogan ................................................................................ VP Administration Dr. Steve Thomas .................................................. VP Membership/Relationships Gary Wood ......................................................................... VP District Operations Deana Savage ......................................... VP Strategic Planning & President Elect Charles House ............................................................................. VP Boy Scouting Ralph Truszkowski ........................................................................... VP Properties Richard F. Johnson ................................................ Immediate Past Commissioner James Riggen ........................................................................ VP/IM Past President Lyman Gifford ........................................................................ Corporate Secretary Larry Adams Brance Armstrong (youth) Blaine Bushman Pat Canty Robert Cunningham Dr. William R. Fannin Robert Ferguson David Garcia Lyman Gifford Ron Harkrider Ted Hogan John Hood Steve Castle Neil Florer Oley Hedrick, Jr. Sam Howell, II William B. Kent EXECUTIVE BOARD Charles House Bill Houston Richard Johnson Dr. Randall Kelly Gina King Doug Lunsford Ralph McCain Craig McCune James F. Newman David O’Neil Jordan Partee Bruce Peeler LIFETIME BOARD Jack Ladd Guy McCrary Ken Peeler K. Kyle Peeler Mark A. Philpy Brandon Pinson James Riggen Deana Savage John Scott David Shipman Frank K. Stowers Dr. Steve Thomas Don Tomlin Troy Tompkins Ralph Truszkowski Dan Wagoner Dr. Byron Welch Gary Wood Ladd Smith Charles Spence Hayes Stripling Kyle Womack MEMORIALS John L. Barnes Anonymous Edna Clingman Mr. & Mrs. Warren Wallace Tom Gernentz Mr. & Mrs. Warren Wallace J. L. Greene, Jr. Sheila A. Greene Salvador Guerrero Mr. & Mrs. Bill Elms Eric Hanson The Chip Smith Family Thomas Hill Mrs. Albert W. Dale, Jr. Martha M. Moore Donnie Latimer Mr. & Mrs. Warren Wallace Tim McEndree Mr. & Mrs. Warren Wallace Jewel Rhodes Mr. & Mrs. Andrew Burleson Delton A. Wilson Barbara Creager Mr. & Mrs. Robert Gaines Mr. & Mrs. H. W. Hugly Mr. & Mrs. Charles Little Gertrude Smith TRIBUTES Don & Betty Tomlin Allen McGuire Steve Vaughan Mr. & Mrs. Andrew Burleson HERITAGE SOCIETY Betty Gaines Robert Gaines O. T. Hendrick Jim Adams Carl Bradley Gary Brednich Jim Byerlotzer Norbert Dickman George Friday Robert Gaines ADVISORY BOARD Russell K. Hall Stephens T. Harper Steve Harry Carl Johansen Keith King Dr. John Martinez Forrest Muire Mark H. Nicholas Rod Stephenson Nicholas Taylor Ben Turpen Gib Wheeler Ron Wingo Jack Wood JAMES E. WEST AWARD Byron Welch FOUNDATIONS Fidelity Charitable Gift Fund Chaparral Foundation Easton Sports Development Foundation II Page 9
Page 1 and 2: www.buffalotrailbsa.org Spring 2010
Page 3 and 4: ON-LINE TOUR PERMITS ARE HERE! Unit
Page 5 and 6: Jan - March EAGLES TODAY Well Done!
Page 7: LONE STAR District Chair, Troy Tomp
Page 11 and 12: As Scouting celebrates 100 years th

Spring, 2010 - Buffalo Trail Council

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