Boy Scouts of America Trust Fund

The Boy Scouts of America (BSA) Trust Fund, with an Employer Identification Number (EIN) of 237141602, is part of the financial structure supporting the Boy Scouts of America, now known as Scouting America. The organization's mission is to support the financial future of Scouting through endowments and trusts.

Purpose

The BSA Trust Fund is designed to provide long-term financial stability for the programs and initiatives of Scouting America. It complements the efforts of local councils by attracting additional funding for operating and capital needs. The fund plays a crucial role in ensuring the continuation of Scouting programs across the United States.

Funding and Operations

The Trust Fund manages various types of assets, including charitable trusts such as unitrusts and annuity trusts, which benefit Scouting initiatives. Donors can contribute assets like cash, stocks, bonds, real estate (without mortgages or liens), life insurance, and other approved assets. There is a minimum requirement of $100,000 to establish a charitable trust managed by the Trust Fund.

Tax Exemption

The National Boy Scouts of America Foundation, which manages such funds, is a tax-exempt organization under Section 501(c)(3) of the Internal Revenue Code. Donations to the Trust Fund are deductible from income, estate, and gift taxes, subject to individual tax advice.

Role in Scouting

The Trust Fund supports Scouting America's mission to prepare young people for making ethical and moral choices by instilling values such as trustworthiness, good citizenship, and outdoors skills. The organization operates through local councils and utilizes various programs like Scouts BSA, Cub Scouts, Venturing, and Sea Scouts to achieve its goals.

Financial Challenges and Reforms

In recent years, the Boy Scouts of America has faced significant financial challenges due to numerous allegations of sexual abuse and ensuing legal settlements. A substantial settlement fund has been established to provide compensation to survivors of abuse, while also prompting organizational reforms to prevent future incidents. Despite these challenges, the Trust Fund remains a vital component in securing Scouting's future by supporting programs and initiatives that benefit young people nationwide.