Planned Giving

When you provide for the School of American Ballet in your estate plans by means of a bequest or other life income gift, you are ensuring the excellence of this great institution for generations to come. By joining those who have taken this step, you can take satisfaction from knowing that you are part of an important legacy.

For more information about how Planned Gifts can benefit you, your family, and the School of American Ballet, please explore the opportunities highlighted on this page or contact Kim Portis, Director of Individual Giving, at 212-769-6611 or kportis@sab.org.

The following information about Planned Giving is provided solely for educational purposes. Please consult your own legal and financial advisors before making a major gift.

Founders Society

SAB’s Founders Society is a special group, named in honor of George Balanchine and Lincoln Kirstein, that is dedicated to their visionary ideals for ballet in America. Founders Society members have made planned gifts to the School of American Ballet that help ensure the long-term financial stability of SAB – stability that will allow the School to continue to produce the next generations of dancers well into the future.

As our way of expressing our gratitude to Founders Society members who are making plans for the future of SAB, members enjoy several benefits, including an:

  • Annual summer “picnic” followed by the opportunity to watch a class
  • A small gift in celebration of joining the Society
  • Prominent listing in the Workshop Performance program
  • Invitation to the Halloween Open House at SAB, a festive day of classes and refreshments
  • Other informational mailings and event invitations throughout the year

Ways to Give

Explore the various other ways you can use Planned Giving to support SAB.

Bequests

A bequest is a gift through your will or living trust that costs you nothing now but provides support to SAB after your lifetime. Bequests offer flexibility and can be structured to fit your personal situation. The gift is revocable, so you can change your mind at any time should your circumstances change. You can make a bequest of cash, marketable securities, or you can simply give us a percentage of your estate.

Specific Bequest
Naming the School of American Ballet a beneficiary of a specific amount from your estate is easy.

“I give and devise to School of American Ballet, Inc., currently located at 70 Lincoln Center Plaza, New York, NY, 10023, the sum of $___________ (or description of specific property) to be used for its general purposes (or for the support of a specific fund or program).”

Residuary Bequest
A residuary bequest comes to us after your estate expenses and specific bequests are paid.

I give and devise to School of American Ballet, Inc., currently located at 70 Lincoln Center Plaza, New York, NY, 10023, all (or state a percentage) of the rest, residue and remainder of my estate, both real and personal, to be used for its general purposes (or for the support of a specific fund or program).”

Contingent Bequest 
SAB can be named as a contingent beneficiary in your will or trust if one or more of your specific bequests cannot be fulfilled (for example, if another named heir predeceases you).

“If (insert name) is not living at the time of my death, I give and devise to School of American Ballet, Inc., currently located at 70 Lincoln Center Plaza, New York, NY, 10023, the sum of $___________ (or all or a percentage of the residue of my estate) to be used for its general purposes (or for the support of a specific fund or program).”

Charitable Gift Annuities

A charitable gift annuity is a simple contract between you and the School of American Ballet. In exchange for your irrevocable gift of cash or securities, SAB agrees to pay one or two annuitants you name a fixed annuity for life. The older the designated annuitants are at the time the annuity starts, the larger his or her annual annuity payments will be. You will also be entitled to an income tax deduction in the year you make the gift.

At SAB, the minimum age to start receiving annuity payments is 65. However, you can establish a charitable gift annuity at a younger age – and defer the start of annuity payments to age 65. The minimum gift to establish a charitable gift annuity at SAB is $10,000.

Benefits include:

  • You receive an immediate income tax deduction for a portion of your gift
  • Your lifetime annuity is backed by all of SAB’s assets
  • Your annuity payments are treated as part ordinary income and part tax-free income
  • You have the satisfaction of making a significant gift that benefits you now, and SAB later

    Annuity rates are established by the American Council on Gift Annuities. For more information and/or a personal illustration please contact Kim Portis, Director of Individual Giving at 212-769-6611 or kportis@sab.org.

Life Insurance

Life insurance can be used in several ways to make a lasting gift to SAB. You can simply designate SAB the beneficiary (or contingent beneficiary) of an existing life insurance policy – and continue to own the policy as before.

Benefits Include:

  • You part with nothing during your lifetime
  • You continue to own the policy and retain the right to change beneficiaries
  • If insurance proceeds are paid to SAB after your lifetime, your estate may be entitled to tax benefits because of the gift.
     

Retirement Plans

Gifts of IRAs, 401(k)s, or other qualified plans are popular planned gifts because they require no “up front” cash. You simply designate School of American Ballet, Inc. as the beneficiary of all or a portion of your retirement plan. After your lifetime the residue of your plan passes to SAB tax-free. And, you can continue to take withdrawals during your lifetime and even change the beneficiary if your circumstances change.


Please notify SAB if you have added the School as a beneficiary or contingent beneficiary to your retirement plan as notification is not automatic.

Benefits Include:

  • You can escape both income AND estate tax levied on the residue left in your retirement account by leaving it to SAB
  • Give the most-taxed asset in your estate to SAB, and leave more favorably taxed property to your heirs
  • You can continue to take withdrawals during your lifetime
  • You can change the beneficiary if your circumstances change

Other

The School of American Ballet will gladly consider gifts of Real Estate, as well as gifts made through a Charitable Remainder Trust or Charitable Lead Trust. Gifts in these categories must be determined to meet the internal legal and financial criteria of the School, and as such, are subject to review and approval by the School’s Chief Financial Officer and Board of Directors.

To inquire about one of these opportunities, please contact Kim Portis, Director of Individual Giving at 212-769-6611 or kportis@sab.org.  All inquiries are confidential.

 

Legal Name: School of American Ballet, Inc.
Tax ID Number: 13-1275970