Create your legacy and help secure the future of the Center for the Performing Arts. You can make a significant future gift to the Center without affecting your current lifestyle, and you will be able to reduce your estate taxes, too.
The Center is currently working to establish an Endowment Fund to ensure our efforts in perpetuity. With a strong financial base, the Center for the Performing Arts can fulfill its mission and vision to serve Central Indiana as a cultural and educational resource. Thank you for your transformational gift to provide a legacy in the performing arts.
Become a member:
To become a member of the Legacy Society,
- make an estate plan gift OR
- provide a written gift intention of an estate plan gift OR
- make a gift (single or multi-year) of $10,000 or more directly to the endowment during your lifetime.
Members at $10,000+ will receive donor listing recognition for five years (unless anonymity is requested). Gifts of $100,000+ can establish a named endowment fund. The named fund can support our overall programs and activities OR endow a particular program: artistic, educational or operating expenses. Membership in the Center for the Performing Arts Legacy Society allows you and your family to create a lasting legacy that will provide special educational opportunities and artistic excellence in perpetuity.
Consider these simple tools:
- Life insurance change of beneficiary: You can name the Center for the Performing Arts as the beneficiary of all or part of the proceeds from a life insurance policy but retain ownership. Your estate will be entitled to an offsetting charitable estate tax deduction.
- Life insurance change of beneficiary and ownership: If you change the beneficiary and transfer ownership of the policy to the Center for the Performing Arts, you will receive an immediate income tax deduction and reduce your inheritance tax.
- 401k/403b: You can designate the Center for the Performing Arts as the beneficiary of all or part of your retirement plan assets. That is all you have to do! You don’t have to change your will.
- IRA: Designating the Center for the Performing Arts as a beneficiary of your retirement IRA avoids income tax and estate tax on those retirement plan assets because the Center for the Performing Arts is tax exempt.
- Consider a percentage bequest by leaving a percentage of your estate or a percentage of your residuary estate in your will.
- Make a general bequest by leaving a specified dollar amount to the Center in your will.
- Make a specific bequest by designating a specific asset that you want the Center to receive. For example, a bequest of 1,000 shares of GE stock is a specific bequest.
- Use a residuary bequest to give the Center all or a portion of your estate after all other obligations have been paid.
- Sample will language: I give and bequeath to the Center for the Performing Arts, a not-for-profit corporation [Tax ID 20-3901164] with principal offices located at 1 Center Green, Carmel, IN 46032, the sum of $_____ (or ___% of any residuary estate) to be used for general charitable purposes.
Create your legacy:
- The Center for the Performing Arts will work with you and your financial advisor to help you choose the type of gift to best accomplish your goals.
- If you have already named the Center for the Performing Arts in your will or estate plans, thank you! Please let us know so we may include you as a member of the Legacy Society.
Questions? Please contact:
Michael Pettry, Vice President of Development