BENEFICIARY GIFTS
Giving is not always about writing a check. So many donors tell us that they would love to do more to support live theatre, but don’t know how to do that while still providing for themselves and their families. Making a bigger impact on the people we serve can be easier than you think. There are many ways you can do that while also ensuring you meet your retirement goals and provide for your family. For many people, most of their wealth is not in their wallet or checkbook, it’s in their assets. These non-cash gifts include beneficiary designations in your will, trust, retirement account (401(k), 403(b), IRA, etc.), life insurance, transfer on death account and more.
Giving through your assets has several benefits:
• Giving appreciated assets can be a more tax-efficient way to make a larger gift.
• Most gifts from your assets (beneficiary gifts) cost you nothing during your lifetime.
• You can make a bigger gift than you ever thought possible.
The Easiest Gifts to Make – Beneficiary Gifts
Beneficiary Gifts cost you nothing during our lifetime and allow you to make a larger gift than you ever thought possible. Some examples include:
• Name ACT II PLAYHOUSE as a beneficiary of your will or living trust
• Name ACT II PLAYHOUSE as a beneficiary of your qualified retirement plan (IRA, 403(b), 401(k), etc.)
• Name ACT II PLAYHOUSE as a beneficiary of your life insurance policy
• Name ACT II PLAYHOUSE as a beneficiary of your donor-advised fund
How it Works
• Name ACT II PLAYHOUSE in your will, codicil to your will, living trust or as a beneficiary of your retirement plan, life insurance policy or donor-advised fund.
• Designate your gift for a particular purpose that is important to you, or allow us to use the gift where the need is greatest at the time it matures.
• Indicate a percentage, a set amount, or the remaining balance to benefit our mission.
• If you are comfortable, provide us a copy of the beneficiary page and complete a statement of intention form.
Benefits
• Your assets remain in your control during your lifetime.
• You can modify your gift at any time should your circumstances change.
• You can direct your gift to a particular purpose (be sure to check with us to make sure your gift can be used as intended).
Reach out to our Director of External Relations Michael Jastroch (215-654-0200, michael@act2.org) anytime to learn more or fill out our online letter of intent to get the ball rolling. PROFESSIONAL ADVISOR? Click here for Act II’s information and see below sample language.
Sample Language
Residual Bequest Language – A residual bequest comes to us after your estate expenses and specific bequests are paid:
I give and devise to ACT II PLAYHOUSE, LTD, located in Ambler, PA all (or state a percentage) of the rest, residue and remainder of my estate, both real and personal, to be used where it determines the need is greatest (or for the support of a specific fund or program).
Specific Gift Language – Naming us as a beneficiary of a specific amount from your estate is easy:
I give and devise to ACT II PLAYHOUSE, LTD, located in Ambler, PA, the sum of $___________ to be used where it determines the need is greatest (or for the support of a specific fund or program).
Retirement Plan Beneficiary Language
Naming us as the beneficiary of a qualified retirement plan asset such as a 401(k), 403(b), IRA, Keogh or profit-sharing pension plan will accomplish your charitable goals while realizing significant tax savings. It can be costly to pass such assets on to heirs because of heavy tax consequences. By naming ACT II PLAYHOUSE, LTD, as a beneficiary of all or a percentage of your retirement plan, you maintain complete control over the assets while living, but at your passing the remaining assets pass to ACT II PLAYHOUSE, LTD, free of both estate and income taxes.
Making a charitable gift from your retirement plan is easy. Simply fill out a change of beneficiary form from your plan administrator and notify us. We can also assist you with the proper language for your beneficiary designation to ACT II PLAYHOUSE, LTD.
Life Insurance Policy and DAF Beneficiary Language
As with retirement plans, naming ACT II PLAYHOUSE, LTD, as the beneficiary of a life insurance policy or your donor-advised fund is as simple as filling in a change of beneficiary form from your plan/fund administrator. Be sure to let us know you have named us as the beneficiary so we can contact the insurance company or fund at the appropriate time and put your gift to work as you intend.
