A contribution to the Bremerton WestSound Symphony in your estate plan allows you to contribute to the Symphony’s success while achieving your own philanthropic and financial goals. Naming the Symphony as a beneficiary in your will, or as a beneficiary of life insurance, your retirement fund, or your savings or checking account all represent forms of legacy giving. With the help of your attorney or financial advisor, you can also use a more complex instrument such as a charitable life-income trust.
We invite you to consider the following options:
- A bequest in your will directly from your estate
- Mutual funds or stocks
- Real estate
- Designated Beneficiary*
- Life insurance
- 401K retirement fund
- Checking or savings account
- A Gift that Provides You Income
- We urge you to work with your attorney or financial advisor to see if a charitable annuity or charitable remainder or lead trust would be beneficial to you as well as to the Spokane Symphony Society
*In order to name the Bremerton WestSound Symphony among your beneficiaries, simply state our full legal name, the Bremerton Symphony Association, and location, Bremerton, WA, (for clarity, it helps to include our tax ID number, but this isn’t required) and the nature of the gift (for example, cash or property). If you want your gift to be invested with the Bremerton Symphony Association Endowment in perpetuity, please specify.
YOUR IRA MAY BE THE KEY TO A WONDERFUL OPPORTUNITY TO BENEFIT THE BREMERTON SYMPHONY ASSOCIATION AS WELL AS PROVIDE A TAX BENEFIT TO YOU.
If you have an IRA and you are 70 ½ or older, the IRA Charitable Rollover may be a useful charitable giving option for you and a great way to support the Bremerton Symphony Association. It is now permanently available as a means to making a charitable gift!
It’s as easy as instructing your IRA administrator to make a distribution of up to $100,000 directly to the Bremerton Symphony Association and it will not be treated as taxable income within the year the funds are transferred. If you think this may be a practical way for you to make a donation to the Bremerton Symphony, please contact your IRA administrator and/or tax advisor for more details.
Key points about qualified IRA Charitable Rollover contributions:
- You must be 70 ½ years old or older. If you’re not eligible, please share this information with people in your life that can participate! The transfer from your IRA must go directly from your IRA to the nonprofit organization
- Married couples can each donate up to $100,000 from their individual IRA accounts.
- The gifts must be completed by the last day of the year you will be paying taxes on.
- The gift must be an outright gift.
- Transfers of IRA gifts to donor advised funds, supporting organizations, charitable gift annuities or charitable remainder trusts do not qualify.
- The gift is not eligible for an additional charitable income tax deduction.
- The donation satisfies any IRA required minimum distributions for the year.
POTENTIAL BENEFITS OF PLANNED GIVING TO THE BREMERTON SYMPHONY ASSOCIATION INCLUDE THE FOLLOWING:
- Receive a current income tax charitable deduction
- Reduce estate and gift taxes
- Avoid long term capital gains
We can work with you and your professional advisors to help you plan for tomorrow and receive maximum benefits today. For more information please contact the symphony office.
THROUGH CREATIVE GIFT PLANS, YOU CAN SECURE YOUR OWN
FINANCIAL FUTURE, AS WELL AS OURS.
Always check with your tax and financial advisers for the most appropriate ways to accomplish your charitable goals.