Gifts With Financial Benefits To You
Gifts that Pay You Income
When making a gift to the Kansas City Ballet, you shouldn’t feel like you are choosing between your philanthropic goals and financial security. Gifts that allows you to support the Ballet while receiving income for life are Charitable Gift Annuities and Charitable Remainder Trusts.
Potential benefits include:
- Charitable income tax deduction
- Increased income
- Up-front capital gains tax avoidance
Contact Rebecca Zandarski, Director of Gift Planning, by email or 816.216.5597 to discuss a meaningful gift that is beneficial for you and impacts the future of Kansas City Ballet.
Plan Your Retirement With a Gift Annuity
Here’s how it works: Say that Brent and Jennifer, both 65 years old, want to make a legacy gift but also want to ensure they have income for their retirement. They establish a $25,000 Charitable Gift Annuity (CGA) with Kansas City Ballet. Based on their ages, they will receive a payment rate of 5.1 percent, which means they will receive $1,275 each year for life.
They are also eligible for a federal income tax deduction in the year of their gift. They funded it with appreciated stock, which makes them eligible for a federal income tax deduction and they can also avoid capital gains tax. After their joint lifetime, they have chosen the remaining funds support an endowment to provide exceptional training for aspiring professionals.
Brent and Jennifer, could have chosen a Charitable Remainder Trust (CRT) to include a larger portion of their estate. With the CRT they could receive payments for life, include their heirs to receive payments and then designate final remainder distributions to Kansas City Ballet and their other favorite charities.
Gifts that Reduce Your Taxes
Many supporters like you are looking for ways to make a difference while reducing the amount of money that goes toward taxes. It’s not only possible, it’s easy to do with a beneficiary designation. You can review and adjust beneficiary designations anytime you want by filling out a simple form.
You can name us beneficiary of the following assets:
- Retirement Plan Assets
- Life Insurance
- Commercial Annuities
- Bank Accounts, Certificates of Deposit or Brokerage Accounts
Please use our legal name and Federal Tax ID #:
Kansas City Ballet
Federal Tax ID: 43-6052680
Charitable Lead Trust
With this option, you can receive a tax deduction at the time of your gift and after a period of time you or your heirs will receive the trust assets as well as any increase in value.
Check out this potential scenario: Karen would like to support the Ballet and set aside money for retirement. At age 45, she received a windfall amount of income and needs a large income tax deduction. Following her advisor’s recommendation, she funds a charitable lead annuity trust with assets valued at $500,000. Her trust pays $25,000 to the Ballet each year for 20 years. After that, the balance in the trust reverts back to Karen, when she needs it for retirement. She receives an income tax charitable deduction of $404,293. Assuming the trust earns an average 6 percent annual rate of return, Karen receives approximately $683,928 at the end of the trust term.
Want to learn how these tax-saving strategies might work for you?
Contact Rebecca Zandarski, Director of Gift Planning, by email or 816.216.5597 to discuss a meaningful gift that is beneficial for you and impacts the future of Kansas City Ballet.
Disclosure: We encourage you to consult your financial advisor or attorney as you consider a gift for Kansas City Ballet. The information provided here is not intended as legal, accounting, or other professional advice.