Is my contribution tax deductible?
Yes, the Y is a non-profit 501(c)(3) classified organization. Check with your financial advisor for specific information.
Can my donation be given over a period of time?
Yes, contributions can be made over a three month period.
Will the YMCA accept an in-kind donation?
Yes, the Y is in need of many things and services. The fair market value of an in-kind gift is tax deductible. Please contact your financial advisor for specific information.
How much of what is contributed stays with the Forest City Y?
All of it! Although Y’s pay 2% of all earned income to the YMCA of the USA for services and assistance, all charitable contributions are exempt from this fee.
Who decided how contributions are to be used?
Volunteer Board members, people who live and work in our service area, approve and regularly monitor revenues and expenses over the course of a fiscal year.
Doesn’t the Y have an Endowment Fund to help support programs?
Yes, the Y does have a fund that generates interest to help with operating costs. The fund is permanently restricted and only the interest earned can be used. The percentage of the operating costs covered by the endowment interest has failed to keep pace with the growing budget. We want to continue to keep membership rates low, offer high-quality youth programs and provide financial assistance to those in need.
I’m already a member and pay my dues. Why should I give more?
The dues of our member’s cover the costs associated with staffing, occupancy, supplies, equipment repair and routing maintenance of our facility. Many Y programs that target youth are not self-supporting. It is only through the generosity of people who believe that youth programs and providing financial assistance to those in need that we can continue to offer these important services.
How does the financial assistance program work?
Financial assistance is offered to those who make their needs known. We work with local school officials and state agency workers who indicate to us that a family could benefit from being connected to the YMCA. Each applicant is asked to contribute a token amount towards membership fees. Over the last few years, the Y has provided $25,000-$40,000 to hundreds of individuals in need of financial assistance. We see a trend for this type of needed assistance to continue to grow.