There are several different ways to make a planned gift to Pacific Northwest Ballet. We will be very happy to work with you and your advisors to determine which of them may be right for you. Click on the gift types below to learn more details about each one.
Bequests are the most popular type of deferred gift. You can include a bequest in your original will or living trust or add one later by an amendment. The gift can be a specific amount of money, a specific piece of property, or a percentage of your estate. A bequest gift is very flexible and allows you to retain control over your assets should you need them during your lifetime.
You can designate PNB as the beneficiary of your IRA or other retirement assets such as 401(k) and 403(b) plans and PNB will receive the funds upon your passing. You can leave just a portion to PNB or the entire balance. Because of income tax considerations, this is one of the most tax-wise ways you can make a gift. Alternatively, you can make outright gifts during your lifetime from these same assets that PNB can use immediately.
You might have a paid-up life insurance policy that you no longer need. You can make a gift by transferring the policy outright to PNB or naming PNB as a beneficiary, similar to what you are able to do with retirement assets. Or you might think about taking out a new policy benefiting PNB and receive tax benefits with each premium paid.
You make a gift to PNB and in exchange receive payments for life for you and/or a loved one. Not only is a gift annuity easy to arrange, but your payments are fixed in amount, taxed favorably for many years, and backed by the assets of PNB. You also receive a deduction for part of the value of your contribution.
A charitable trust is another way to make a gift and receive income for life. It is more flexible in nature than a gift annuity and can allow you to meet different personal goals. Your payments can be either fixed or variable in amount. A partial income tax deduction is another appealing feature.
This trust arrangement allows you to make current gifts to PNB while passing your assets along to heirs sometime in the future, often with greatly reduced estate and gift taxes. It can also be arranged so that the remaining trust principal returns to you at the end of the trust term.
Additional options are charitable bargain sales, retained life estates in residences and farms, and outright gifts of certain relatively illiquid assets, such as real estate and interests in closely-held businesses. All of these feature current income tax deductions and can help simplify estate and financial matters.
Thank you for thinking of an estate gift to PNB. We look forward to working with you to find the best gift for your circumstances, and to welcoming you as the newest member of our Révérence Society.
Lindsay Krause, Major Gifts and Planned Giving Officer, at 206.441.3599 or Lkrause@pnb.org