Individual Giving
Planned Giving
Planned gifts are increasingly important to the continued stability and artistic excellence of Seattle Symphony. We offer a range of gift planning opportunities that allow you to make a lasting difference at the Symphony while meeting your personal financial and philanthropic goals.
Musical Legacy Society
The Musical Legacy Society welcomes as lifetime members those who have named Seattle Symphony as a beneficiary of their estate plan.
Maestro Gerard Schwarz and Musical Legacy Society member Sonia Spear enjoy the 2008 Spring Recital Luncheon
In addition to receiving the tremendous satisfaction of supporting the Symphony's future, Musical Legacy Society members receive many benefits and invitations to special events, including:
- The annual Spring Luncheon and Recital hosted by Maestro and Mrs. Gerard Schwarz
- Access to the Norcliffe Founders Room, for complimentary refreshments during concert Intermissions
- Invitation to the Closing Night Party
- A Musical Legacy Society lapel pin
To join the Musical Legacy Society, download our printable membership form and mail to:
ATTN: Marita Sheeran
Seattle Symphony
P.O. Box 21906
Seattle, WA 98111-3906
For more information, please contact Marita Sheeran, Director of Gift Planning, at 206.215.4852, or marita.sheeran@seattlesymphony.org.
Gift Planning Options
There are many ways to make a planned gift to the Symphony that will ensure the continued stability and artistic excellence of the Orchestra for future generations. Some popular options follow. Be sure to consult your legal and financial advisors regarding the applicability of the information below to your situation.
Charitable Bequest
Through your will or living trust, you can designate the Symphony to receive a specific dollar amount or property, a percentage of your estate, or the residual after other designations are fulfilled.
Advantages
- Simple and inexpensive to set up
- Allows you to retain current assets and income while eventually making a significant contribution
- Can be changed or amended any time during your lifetime
- Qualifies for estate tax deduction
- Click here for sample bequest language
top
Charitable Gift Annuity
A charitable gift annuity is a contract between you and Seattle Symphony Foundation. In exchange for a contribution of cash, marketable securities or – in some cases – real estate, the Symphony agrees to pay a specified life annuity to you and/or your beneficiary. The minimum amount to establish a charitable gift annuity is $10,000, and the minimum age for distribution is 60.
Advantages
- Easily set up at no cost to you
- Frequently provides greater cash flow than investments, e.g., certificates of deposit
- Entitles you to a partial income tax deduction for a portion of the value of the assets transferred
- A portion of the annuity payments made to you and/or your beneficiary will be tax-free
- If long-term appreciated property is contributed, tax on the gain is reduced
top
Charitable Remainder Trust
Property is transferred to a trust that makes payments to you and/or your beneficiaries for life or a specified term of up to 20 years. After the terms of the trust are fulfilled, the Symphony receives the trust's assets.
Advantages
- Offers great flexibility in meeting individual income and estate planning needs
- The payout rate may be a fixed amount or a percentage of the trust assets as valued annually
- Provides an income tax deduction for a portion of the value of the assets transferred
- Funding a trust with long-term appreciated property can reduce, postpone, or even eliminate capital gains tax
top
Retirement Plan Assets
You can leave the Symphony a part or all of your IRA, 401(k) Plan, HR-10 Plan or other qualified retirement plan by naming the Symphony as a partial or entire beneficiary.
Advantages
- Family beneficiaries of your estate plan may receive a greater net estate when you designate your retirement plan assets to the Symphony and other less highly taxed assets to your family members
top
Charitable Lead Trust
Property is transferred to a trust that makes payments to the Symphony for a certain period of time, then either returns the principal to you or distributes it to your heirs.
Advantages
- Allows you to transfer assets to your heirs at substantial gift and estate tax savings
- Can provide income tax benefits under certain circumstances
top
Life Insurance
Regardless of whether you already have a policy or are acquiring a new one, you can either assign ownership of the policy to the Symphony, or simply designate it as the beneficiary.
Advantages
- Allows you to make a sizable contribution through an asset you may no longer need
- If the Symphony is named as policy owner, you may be eligible for an income tax deduction for the present cash value of the policy, as well as for any future premiums you pay
- If the Symphony is named as the beneficiary, the gift qualifies for an estate tax deduction
- Proceeds pass directly to the Symphony outside of the probate process
top
Outright Gifts of Other Assets
Symphony supporters may contribute not only cash and securities, but also, in some cases, real estate, savings bonds and commercial annuities.
Employee stock options may or may not be transferable, depending on your company's plan. Even if they are not transferable, you can arrange charitable gifts so that the tax payable upon exercise of the options will be substantially reduced.
Advantages
- Depending on the type of property and the method in which you give it, you can decrease the income tax you or your heirs will pay.
- Estate tax liability can be reduced or eliminated.
top
|