Legacy Giving
Creating a legacy
Like your everyday actions, your charitable gifts have an impact on others.
Perhaps you have considered a charitable legacy to continue your philanthropy beyond your lifetime, to have your family remembered, and your philanthropy woven into the lives of others. With a legacy gift, you can.
We invite you to join others whose philanthropy will endure through a gift they have planned in their estate to the Santa Rosa Symphony Association. Join the Heritage Society.
The Heritage Society
The Heritage Society was established to recognize and thank those individuals who have identified the Santa Rosa Symphony as the best partner in the creation of a personal legacy through a planned gift. The Heritage Society is our way of acknowledging their commitment to the future of the Symphony today.
Gifts of all sizes are appreciated, and there are several ways to structure your gift.
Membership in the Heritage Society serves as an example for others to follow, though if you prefer, we honor any requests for anonymity.
Benefits
- Annual Heritage Society Luncheon brings together members for a lovely meal with an intimate recital performed by Symphony musicians and guest artists.
- Heritage Society members are listed in the Symphony’s season program books, acknowledging their generosity and their vision.
Options for Including the Symphony in Your Estate Plan
There are a variety of options for creating your charitable legacy for classical music, including ways to help you save on taxes and make your contributions go further.
Consider how these choices best fit your individual needs and goals:
Will or Living Trust
Name the Symphony as a beneficiary of your estate. Where there’s a will, there’s a way to honor your love of classical music.
Example:
Bequeath a specific dollar amount, an asset, a percentage, or the residue of your will or trust to the Symphony. Because this portion of your estate is tax deductible, your donation may significantly reduce taxes otherwise payable by your estate.
IRA or Retirement Plan
Retirement Plans and Individual Retirement Accounts offer great tax benefits while you are living. However, at your death, the tax costs of these assets can be immense. One way to save your family and heirs the burden of these costs is to make a charitable contribution using these assets.
Example:
Name the Symphony as the beneficiary of your IRA or Retirement Plan so that your heirs will not have to pay the income taxes you have avoided during your lifetime. In addition, your heirs will not have to pay estate taxes on the value of your retirement vehicles. By naming the Symphony as the beneficiary of your Retirement Plan or IRA, your family and heirs will avoid this double taxation.
Life Insurance Policy
You may choose to designate the Symphony as a beneficiary of your life insurance policy.
Example:
Your existing life insurance policy may be assigned, all or in part, to the Symphony. Or, purchase an additional life insurance policy naming the Symphony as owner or sole beneficiary of this new policy.
Charitable Remainder Trusts
This charitable strategy pays the donor and named beneficiaries income now until the trust matures, when the remainder passes to the Symphony. Cash, securities and appreciated real estate are transferred to the trust and a diversified investment portfolio is established to generate income for the donor. The donor receives an income tax deduction for a portion of the assets contributed to the trust and pays no capital gains tax on the transfer.
There are two types of Charitable Remainder Trusts
Annuity Trust
You receive stable, predictable income annually based on a fixed percentage of the original assets donated.
Unitrust Trust
You receive income annually that varies based on a fixed percentage of the value of the investments, which
Gifts Honoring Loved Ones in Perpetuity or through Fixed Terms
One of the most elegant ways to assure that your loved one’s name will be remembered is through a Named Gift to commemorate, memorialize or celebrate a family member or friend either in perpetuity, or over a fixed period of time. The Symphony offers opportunities to honor loved ones by affixing their names to specific Symphony chairs or programs making them part of the music for generations to come. Click here to learn more.
Valuable Information
Legal Name: Santa Rosa Symphony Association
Tax ID: 94-6134075
It is an estate planning best practice to include both the legal name and tax identification number in any will or trust documentation.
Facilitating Your Wish…
…to make a lasting contribution.
The Symphony’s staff welcomes the opportunity to meet with you personally in order to understand and facilitate your wishes for the future. We also recommend discussing your wishes with an estate planner or other professional advisor.
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To make a donation or inquire about supporting the Symphony, contact Santa Rosa Symphony Development Department at (707) 546-7097 ext 214.
