Ways to Give
Explore the various other ways you can use Planned Giving to support SAB.
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. A free opportunity to create a bequest can be accessed through the FreeWill partnership above.
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).”
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).”
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).”
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.
- 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.
Gifts of IRAs, 401(k)s or 403(b)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.
- 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
The School of American Ballet will 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 L. Michelle Palmour, Director of Individual Giving, at 212.769.6611 or firstname.lastname@example.org. All inquiries are confidential.
Legal Name: School of American Ballet, Inc.
Tax ID Number: 13-1275970