Planned Giving
With legacy giving, you can shape the way you will be remembered. Welcome to the 5 Arts Legacy Circle, where you can participate in the future. Here are ways to make a gift that makes a difference.
Ways to Give:
The IRA Charitable Rollover/Qualified Charitable Distribution (QCD)
If you are 70 ½ years or older you can take advantage of a simple way to benefit 5 Arts Circle and receive tax benefits in return. You can give any amount up to $105,000 per year from your IRA directly to 5 Arts Circle without having to pay income taxes on the money.
Benefits:
Satisfy your required minimum distribution (or a portion of it) for the year (RMD).
Reduce your taxable income.
Support 5 Arts Circle’s mission to enrich our community through the arts!
Appreciated Stock
Stocks that have increased in value and been held for more than one year are eligible for a donation tool to give to 5 Arts Circle. Making a gift of appreciated stock offers you the chance to support our work while realizing important benefits for yourself.
Reduce or even eliminate federal capital tax gains on the transfer.
You receive a federal income tax charitable deduction based on the fair market value of the gift, with some limits.
Give support to 5 Arts Circle in their mission of supporting arts in our community!
Bequests
Making a bequest to 5 Arts Circle is an ideal way to make a significant gift, but retain the use of your assets during your lifetime. Through a will or a trust, a family can bequeath a specific dollar amount, a percentage of an estate, or a residual value after other gifts have been satisfied. Bequests can be for a designated purpose.
Beneficiary Designations
Naming the 5 Arts Circle as beneficiary of a life insurance policy, annuity, or retirement fund [e.g., IRA, 401(k), 403(b)] is a great way to eliminate substantial estate and income tax on these assets at the time of your death.
Create a charitable trust and name 5 Arts Circle as the beneficiary
Establish a tribute gift or make an endowment gift
As these instruments are specific to your tax situations it is recommended to seek advice from your financial advisor before you proceed. If you have any questions please reach out with questions.