Please click here to view your invitation to the June 18, 2012 Planning Giving seminar at The Old Globe.
Members of the Craig Noel League are ensuring a successful future for The Old Globe by including the Theatre in their estate plans today. More than eighty-five members have planned to include the Globe in their estate plan and will contribute to the Globe’s fiscal health for generations to come. League members enjoy a number of benefits throughout the year, including recognition in Performances Magazine, invitations to the yearly Craig Noel League Member's Event, “Meet the Artists” events, “Food for Thought” a monthly luncheon featuring artists and actors and other special occasions that will bring members closer to the art and to the artists on stage.
There are many ways you can form a lasting partnership with The Old Globe that are advantageous to you as well as to the Theatre. Please take a moment and review the options available below.
- Make a cash contribution or charitable bequest in your will or living trust
Many not-for-profit institutions, including The Old Globe, benefit from bequests, large and small, from their closest friends. All gifts by bequest have special importance. A bequest is not subject to federal estate or state inheritance taxes. The value of the bequest is deductible in determining the taxable estate and there is no limit on the amount of the deduction. Bequests may be written in absolute dollar amounts, as a percentage of estate value, as contingent upon other terms or circumstances, or as a residual of an estate. Whether you are writing a will for the first time, revising an existing will, or adding a codicil, an attorney should always be consulted to determine the type of bequest best suited to your needs.
- Create a charitable remainder trust
This type of trust arrangement enables you to make a major gift to The Old Globe during your lifetime and receive the income from cash, securities or other property given. The income from these trusts is available to you, or a named income beneficiary, during your lifetime and, if desired, for the lifetime of a second income beneficiary. At the time you make the gift, you will receive an immediate charitable deduction on your income tax (with a five-year carry forward) and capital gains tax is avoided. Ultimately, the assets of the trust pass to The Old Globe.
- Give a gift of real estate
Gifts of real estate to the Theatre can generate significant tax benefits and help avoid estate settlement problems. The gift may be a home or vacation property, a farm or ranch, a commercial building, subdivision lots, or undeveloped land. The entire property or a fractional interest (part of the property) may be given. Individual financial needs and goals (outright gift, retained life tenancy, etc.) will determine the method most appropriate.
- Create a charitable lead trust
A gift which provides fixed or variable current income for the Globe for the life of the donor or for a term of years, after which the remaining principal reverts to the donor or donor's heirs.
- Agree on a charitable gift annuity
A Charitable gift annuity (CGAs) is one of the simplest and most popular forms of life income gifts. It involves a simple agreement whereby the charity accepts a gift of cash, securities, or property and agrees to pay a specified, fixed dollar amount to the annuitant (the donor or another beneficiary). The fixed amount is set by the American Council on Gift Annuities http://www.acga-web.org and is based on the annuitant's age. Because the gift is irrevocable, the charity maintains control of the gift and becomes responsible for paying income for the lifetime of each annuitant.
- Life Estate
A life estate is a signed document that gives you the absolute right to live in a piece of property until you die. After one spouse dies, the life estate will protect the other spouse’s use of the home. At the time of the second spouse’s death, the property transfers in full to the grantee, giving that person full legal rights to occupy, rent or sell the home.
- Invest in a pooled income fund
Combines the tax advantages of charitable giving with the benefits of a lifetime income stream for up to two beneficiaries, which can include the donors. Securities or cash to this fund will have the potential to take an immediate partial tax deduction. Beneficiaries receive lifetime income generated by the Pooled Income Fund’s investments, in quarterly payments. The remaining value of the account is distributed to up to ten recommended charities upon the death of the last income beneficiary.
If you have remembered the Globe in your estate plan, please call the theatre and ask to be included as a member in the Craig Noel League. If you are thinking of including the Globe in your will, please call us so that we can share with you the recognition and benefits of membership in the Craig Noel League.
As we celebrate the Globe as a local cultural landmark and national icon, it is time for us to build for the future. You can help secure the future of The Old Globe – for the next 75 years – and beyond!
For more information on how you can join today to The Old Globe and Planned Giving Society, please contact Bridget Cantu Wear, Associate Director of Development, Planned Giving at (619) 231-1941 x2312 or email bcantuwear@TheOldGlobe.org.
Click here to submit this form for an immediate reply to any questions you may have about Planned Giving.