Planned Giving Options - VocalEssence

Make Beautiful Music Last Forever

Thank you for considering a gift to support VocalEssence to draw upon the power of singing together to nurture community, inspire creativity, affirm the value of all persons, and expand the influence of choral music. We know you support our work because you believe in what we do and because you want to help transform lives through the power of music. But we’d also like to make sure you benefit from making a gift to VocalEssence.

How does this happen? You may be surprised to learn that many gift types offer financial and tax benefits.

You Have Options

The Mendelssohns, VocalEssence Singers, Photo Credit: Bruce Silcox

You are likely familiar with and have made cash contributions to VocalEssence, which help VocalEssence to continue our regular work throughout each year. But sometimes an immediate gift isn’t the best option, especially if you feel unsure about giving up assets today that you and your loved ones might need in the future.

A planned gift is a perfect option for some people. There are many different types of planned gifts, and each offers unique advantages. Some planned gifts are revocable—a gift in your will or living trust, for example—so you can change your mind at any time.

Or, they can be irrevocable—just as outright gifts are—so that you qualify for an income tax deduction. Many irrevocable planned gifts are attractive because they are deferred. You part with an asset today, but the actual giving of the asset to us is put off for a while—often until after your lifetime (and that of a surviving beneficiary, if you wish). Until that time, you enjoy the benefits of the gift.

For example, with a charitable remainder trust, you receive lifetime income from the asset after it’s placed in a trust, and then we receive the remainder of the trust after your lifetime. Or, you could deed us a remainder interest in your home and still retain the right to live in it for life.

The key feature of planned gifts like these is that they provide important benefits to you as well as ensure the future of VocalEssence.

Learn More

We’ve included information below to summarize the benefits of several common charitable gifts. Just think of what you want to accomplish with your gift, and there is likely a way to accomplish it!

We’re here to answer any questions you might have about planned giving. We can examine your particular situation and, together with your attorney and/or financial advisors, help you find ways to support VocalEssence as a place where everyone’s voice is welcome while ensuring your family’s financial security. Please call us for more information.

Will or Living Trust / Beneficiary Designation

Goal:

Defer a gift until after your passing.
Maintain control of your assets during your lifetime.

How To Make A Gift:

Work with your attorney to add a gift in your will or living trust detailing your donation to VocalEssence.
Designate VocalEssence as a beneficiary of a percentage of your retirement plan, savings or brokerage account, or life insurance policy.

Benefits to You:

Maintain your current lifestyle while making a meaningful gift to support VocalEssence.
Enjoy the flexibility to change your plans as life changes.
Pass your retirement plan assets to VocalEssence tax-free.

Stock or Other Securities / Real Estate / Personal Property

Goal:

Make a gift now and receive benefits.
Make a larger gift with little or no effect on cash flow.

How To Make A Gift:

Give stock or securities that have increased in value directly to VocalEssence.
Donate your residence, farm, or commercial property.
Donate tangible personal property such as art, collectibles, or other items of value.

Benefits to You:

Qualify for income tax benefits.
Avoid capital gains taxes on assets that have increased in value.
Transfer the expense of insuring or maintaining assets you no longer need.

Charitable Gift Annuity*

Goal:

Supplement your retirement income with steady payments.
Receive payments that are partially income tax–free.Charitable Remainder Unitrust / Charitable Remainder Annuity Trust

How to Make a Gift:

Make a donation of cash or securities to benefit VocalEssence through a simple exchange for fixed payments for life.

Benefits to You:

Qualify for an income tax charitable deduction.
Enjoy tax savings on a portion of each payment you receive throughout your life expectancy.
Receive fixed payments for life.
What is left of your gift after your passing supports VocalEssence.

*Charitable gift annuities are not available in all states or through all organizations. Please contact us if you are interested in a gift annuity.

Charitable Remainder Unitrust / Charitable Remainder Annuity Trust

Goal:

Supplement your own retirement income or that of someone else.

How to Make a Gift:

You transfer cash, securities, or other appreciated property into a charitable remainder trust. The trust pays either a variable (unitrust) or fixed (annuity trust) amount each year to you, or another beneficiary if you choose, for a lifetime or a term up to 20 years. When the term is up, the balance goes to VocalEssence.

Benefits to You:

You can make a generous gift to VocalEssence, receive an income tax deduction for the charitable portion of your gift and eliminate capital gains tax at the time of the gift when the trust is funded with appreciated assets.

Charitable Lead Unitrust / Charitable Lead Annuity Trust

Goal:

Provide a revenue stream to support VocalEssence.

How to Make a Gift:

You transfer securities or other appreciated property into a charitable lead trust. The trust pays either a variable (unitrust) or fixed (annuity trust) amount each year to VocalEssence for a lifetime or term of years. The balance then passes to your heirs.

Benefits to You:

Support VocalEssence during your lifetime, reduce your taxable estate and often reduce gift taxes.