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Eryn and Mike Bingle

Eryn and Mike BingleEryn and Mike Bingle are not who you might typically think of when you think about the Legacy Society. In their early 40s with three young children, estate planning is still on the back burner. But both feel passionately about Camp, especially Eryn's experience as a volunteer counselor, and they want to ensure they have a lasting impact on Camp.

Their involvement dates back to 1997, when a friend introduced Eryn to Camp. "I had never seen anyone so fired up and passionate about being a camp counselor," recalls Eryn. "But I connected with Camp's mission, and the opportunity to volunteer in the cabins and do something very hands on with the kids was appealing to me. We weren't yet in a position to donate financially in an impactful way, so this seemed like a great way to help."
After that first summer session, Eryn was hooked, and the Bingles haven't looked back since. Eryn was a volunteer counselor for three summers, and both Eryn and Mike have been regular donors, hosts and tireless advocates for Camp and its programs. "I've had a very high quality experience as a volunteer and a donor, and I can't imagine life without Camp," says Eryn.

"My favorite memories of Camp are the small moments with the campers that have a really big impact -- the songs we sing, the crafts we make, the new personal bests we achieve," she continued. "There is so much pride and joy when a camper swims for the first time, or hooks a fish, or climbs the tower.  Those small moments last forever and are the stuff of inspiration when the campers are back home.  As donors to Camp, we know that nearly all of our donation goes directly to the Camp program and ensures a steady stream of small moments for countless campers and summers to come."

"When I was a volunteer counselor, we were young and not thinking of ourselves as donors yet. But we age into new roles," says Eryn. "We want to make sure we continue to help Camp long after our time in the cabins or hosting an event is over, and the Legacy Society is an easy way to do that."

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A charitable bequest is one or two sentences in your will or living trust that leave to The Hole in the Wall Gang Camp 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

Bequest Language

I give, devise and bequeath to The Hole in the Wall Gang Fund, Inc., a Connecticut nonstock corporation with offices in New Haven, Connecticut, (percentage or written amount 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 Hole in the Wall 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 Hole in the Wall 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 Hole in the Wall 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 Hole in the Wall where you agree to make a gift to Hole in the Wall 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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