Planned giving is a generous and effective way of ensuring Gulfshore Opera’s future, while gaining financial and tax benefits for you and your family. It also allows many to make a larger gift than they otherwise could give. When you make a bequest of any size to GO in your will, through a trust arrangement, or through a retirement or life insurance plan, you become a member of GO’s new recognition society, ENCORE!
You can make a planned gift to GO in a number of tax-beneficial ways:
Gifts by Bequest
You name GO as a beneficiary in your will or trust. You may choose to make GO the beneficiary of cash, securities, and/or other property, without impacting cash flow during your lifetime. The total value of your estate will be reduced by the amount of your gift to GO, which may provide tax benefits for you and your family.
Your bequest can be a specific amount, a percentage of your estate, or some part of the remaining balance after other specific gifts are paid.
Gifts from Retirement Plans
For a simple, tax-efficient planned gift, consider naming Gulfshore Opera as the beneficiary of your tax-deferred profit sharing retirement plan, 401(k) or 403(b) plan, and individual retirement account (IRA). These tax-deferred assets may be subject to income tax when inherited by taxpayers. However, if GO is named as a beneficiary of any of these plans, the amount of the gift will pass free of any taxes.
This is also one of the easiest gifts to put in place. In most instances, you can simply go to the web site of the trustee or custodian of the plan and change the beneficiary designation. Like a bequest from a will or trust, the gift may be a specific dollar amount or a percentage of the plan assets.
Gifts of Life Insurance Policies
Give a policy you no longer need to Gulfshore Opera!
There are two ways to turn an existing life insurance policy into a generous planned gift to GO.
Ask your insurance company for a beneficiary designation form and name Gulfshore Opera as a beneficiary; or consider giving Gulfshore Opera a paid-up policy. If you transfer your policy’s ownership to GO, you may be entitled to a tax deduction equal to the lesser of the policy’s cash surrender value or cost basis.
Consult your tax or legal counsel for advice. If you decide to include GO in your estate plan or name us as a beneficiary, we would find it very helpful to have a copy of that portion of the document for our records.
Legal Name: Gulfshore Opera, Inc.
Address: 9911 Corkscrew Rd. Suite 105, Estero, FL 33928
Phone: (239) 529-3925
Donations are tax deductible under Section 501(c)(3), tax ID #47-0989874.
Florida charitable solicitation #CH48511. Gulfshore Opera, Inc. is a 501(c)(3) not-for-profit corporation organized under Section 170(b)(1)(A)(vi) of the Internal Revenue Code.