For further information, you may contact the Development Office at (302) 658-7897 or Todd Flubacher, Legacy Gifts Committee Chair, at (302) 351-9374 or firstname.lastname@example.org.
DIRECT CONTRIBUTIONS OF CASH
Contributions of cash or stock provide an immediate tax benefit for the donor and immediate support for The Grand’s campaign. These gifts can be designated for either endowment or capital if the donor wishes. Checks should note Imagine Your Grand Tomorrow in the memo section.
GIFTS OF APPRECIATED STOCKS OR BONDS
You can use appreciated stock which has been held for more than one year to increase your income and save taxes at the same time, since you will be entitled to deduct the current value of the stock without paying capital gains tax on the appreciated portion. If you prefer to give appreciated stock, please contact Kate Gugerty, Director of Development, for specific instructions. It is important that we know to expect these gifts.
The cornerstone of an estate plan is your will or revocable trust. By providing a bequest in your will or a provision in your trust to benefit The Grand, you can make a significant gift that will benefit The Grand for years to come while providing tax advantages to your estate. Often donors will name The Grand Opera House as the beneficiary of a portion of their estate or the recipient of funds after named individuals have received their inheritance. This remains the most common form of planned giving due to its simplicity and the donor’s ability to make changes at any given time.
LIFE INCOME PLANS
By using a charitable life income plan such as a Charitable Remainder Trust or a Charitable Gift Annuity you can avoid capital gains tax, get a significant current income tax deduction, save estate taxes, increase your income, diversify your portfolio, and make a significant gift to The Grand. You can deduct the full fair market value of the stock on the date of the gift. You are also not taxed on the capital gains that would have been taxed if you sold the stock yourself. The Grand’s Director of Development will be happy to work with you and your financial or estate planner on such a gift.
INDIVIDUAL RETIREMENT ACCOUNTS
Currently, persons at least 70 ½ years of age may take advantage of a temporary law permitting required annual distributions of up to $100,000 from their retirement accounts to be given directly to charity. Under this provision, the distributions are not included in the taxpayers’ adjusted gross income (AGI), and the taxpayer does not pay taxes on them as they would otherwise. For more information, please contact Todd Flubacher, Chair of the Legacy Gifts Committee, and partner at Morris, Nichols, Arsht and Tunnel.
GIFTS OF LIFE INSURANCE
Life insurance is an advantageous way to fund an endowment. A donation can be created through small premium payments, thereby leveraging your dollars to create a significant gift while enjoying the deduction for the amount of the premium payments. You can also gift an existing policy and enjoy a tax deduction for the cash value of the policy.
GIFTS OF REAL ESTATE
Real estate can be given to The Grand in ways that afford you many benefits. You can donate real estate during your lifetime to The Grand either as an outright gift or to fund a charitable remainder trust. The property is transferred to The Grand by deed, and is subsequently sold. The proceeds are used to establish a permanent endowment fund or create a charitable remainder trust where applicable. Along with the immediate income tax deduction this can eliminate the issue of capital gains on the appreciated value of the real estate, or remove the property from your estate. There are also options for donating real estate yet retaining the right to live in the property for the rest of your life or a defined period of time.
CHARITABLE LEAD TRUST
A Charitable Lead Trust is an excellent way to make a charitable gift to The Grand while retaining the asset or to transfer property to a younger generation at a significantly reduced gift or estate tax cost. It is a trust which pays income to The Grand for a fixed number of years. At the end of the term, the trust assets pass outright to your designees, which can be children, grandchildren or yourself.
CHARITABLE REMAINDER UNITRUST
A Charitable Remainder Trust is a trust to which you make a gift and retain an income interest. Income can be paid to you and your loved ones for life, or for a specified number of years, after which The Grand receives the remaining trust assets. You receive an immediate tax deduction on a percentage of the gift. A Charitable Remainder Trust can be created by you during your lifetime or included in your will or revocable trust to take effect at your death for the benefit of others. By using appreciated assets such as real estate or stocks you will avoid the capital gains tax otherwise paid if you sold the asset yourself.
This information is offered with the understanding that The Grand is not engaged in rendering legal, accounting or other professional service. If legal advice or other expert assistance is required, please seek the services of a professional. The members of The Grand's Legacy Gifts Committee are happy to guide you if you are seeking a personal estate advisor. Please contact The Grand for further assistance.