Planned giving offers donors exciting opportunities to increase the impact of their giving to Carolina Performing Arts, often while decreasing current or future tax obligations. By its very nature, philanthropy is a personal decision, motivated by many factors and often influenced by a variety of financial circumstances and personal concerns. The timing of a potential gift is especially important to consider.
If you have adequate resources to take care of yourself and the people you love, you might decide to make an outright gift of cash, appreciated securities, real estate, or tangible personal property.
If you want to support Carolina Performing Arts but need the assets during your lifetime, a bequest made through a will or trust, or a gift of life insurance or retirement account, may be the best vehicle. All of these methods are simple to execute, either by adding a codicil or amendment to your will or trust, or by naming Carolina Performing Arts as the beneficiary of your life insurance policy or retirement plan.
You may want to continue receiving income from an asset, especially during retirement, and provide for a substantial future gift to support Carolina Performing Arts. With life income gifts, you can also minimize capital gains and income taxes. To set up a life-income gift, you transfer securities, real estate, cash, or other assets to a trust or gift annuity that will ultimately benefit Carolina Performing Arts, but you retain the right to receive income for life or for a set number of years.
If you are in a high gift- and estate-tax bracket, you may wish to consider a charitable lead trust. This allows you to set up a trust for a set number of years, after which the assets pass to your heirs. Meanwhile, Carolina Performing Arts receives the income annually for the term of the trust, putting it to work for enhancing the performing arts at Carolina.
We are pleased to discuss gift planning options with you. In addition, the UNC Office of Gift Planning offers a variety of specialized services and expertise to help you as you consider your personal needs and charitable goals.
Contact Elizabeth Ayers, J.D., director of UNC Office of Gift Planning, at 919.843.5289 or email@example.com.
*This list of planned giving options was adapted from a planned giving booklet published by Pride Foundation.