IRA, PLANNED AND CAPITAL SUPPORT
You can plan to leave a lasting legacy to Everyman through multiple means of support. These can include an IRA gift, planned and estate giving, and corporate matching gifts.
GIFTS FROM YOUR IRA FOR AGES 70½ AND OLDER
If you are 70½ years old, the IRS allows you to allocate a contribution directly from your IRA without having to pay federal taxes on the distribution.
Congress extended the IRA charitable rollover provisions for 2016 and beyond. For those who are 70½ or older, any amount up to $100,000 can be distributed tax-free from your Individual Retirement Account (IRA) to Everyman or your other favorite charities though December 31, 2016. Because Congress did not include an expiration date on these provisions, similar distributions can be made in future years as well. This amount can count toward your required minimum distribution for the year in which the distribution is made. Although these distributions are not deductible as charitable contributions on your income tax return, they impact your taxes because they are not treated as taxable income to you.
Here’s how it works:
- You must be 70½ or older at the time of distribution.
- You may distribute any amount up to $100,000 in a calendar year to charity, as long it is completed by December 31 of the year in which you intend to make the charitable distribution.
- Your IRA administrator must make the distribution directly to the charity, or you may write a check payable to the charity from your IRA checkbook. For a sample letter of instruction to your IRA administrator requesting a distribution to Everyman Theatre.
- If you make a gift to Everyman from your IRA, please include written instructions on how you would like to designate your gift by making a note on your IRA check. Contact Tim Ambrose, Director of Development at firstname.lastname@example.org 443-615-7062.
Certain restrictions and requirements* must be followed when making this type of gift. If you have questions, please call
PLANNED AND ESTATE GIVING
There are many ways to make a planned gift in support of Everyman Theatre. These gifts generally come from assets.
The three types of Planned gifts are:
- Outright gifts of appreciated property including real estate, artwork or stocks
- Gift that return income to the donor or have other financial benefits to the donor in return for a contribution, ie. Charitable Gift Annuity
- Gifts payable upon the donor’s death.
For more information, contact Dustin Morris in the Development office at email@example.com or call 443-615-7055 x7122.
Capital gifts generally support the physical structure or physical needs of the theatre including lighting and sound equipment, electronic media and computers and equipment. Usually these gifts are given during a capital campaign. We are not currently in a capital campaign but have several capital items for which we are seeking support. If you are interested in learning more about how you can help with specific capital items, please contact Dustin Morris in the Development office at firstname.lastname@example.org or call 443-615-7055 x7122.