Artists of Pennsylvania Ballet in Serenade, choreography by George Balanchine © The George Balanchine Trust. | Photo: Alexander Iziliaev

Planned Gifts

Pennsylvania Ballet's planned giving programs enable donors to make substantial gifts to the Ballet in ways that complement their personal financial planning. A planned gift to the Ballet can help donors generate lifelong income, obtain significant income tax deductions, reduce or eliminate estate taxes, and convert low-yielding assets into a higher income stream at a reduced capital gains cost.
 
The Edwin E. Tuttle Society
Pennsylvania Ballet established its first planned giving society in honor of Edwin E. Tuttle, former Trustee and Board Chair. The Edwin E. Tuttle Society honors all individuals who have included the Ballet in their estate plans with similar vision and foresight. Some donors have agreed to make irrevocable bequests to the Ballet, while others have simply let us know that the Ballet is a beneficiary of their estate. Members will be invited to special events and will also be recognized for their support in Pennsylvania Ballet performance programs and other publications.
 
We are happy to meet with donors and their financial advisers to help tailor giving strategies that best meet donors' needs. Some of the more common planned giving vehicles are summarized below. For more information on The Edwin E. Tuttle Society or to discuss planned giving options, please contact Jane Kamp, Director of Development, at 215-587-6912 or jkamp@paballet.org.

  • Bequests

    Including Pennsylvania Ballet in your will is an easy and effective way to support the Ballet. Bequests can be made in the form of a specific gift of cash or property or as a percentage of the remainder of an estate. If you already have a will, you may add a codicil, or amendment, to your current will. Here is some sample language for a bequest codicil:

    I hereby give, devise and bequeath to Pennsylvania Ballet, a nonprofit corporation organized and operating under the laws of the Commonwealth of Pennsylvania, the sum of _______________________ (or ___ % of the rest, residue and remainder of my estate) to be used for the general purposes of the Ballet (or for a particular program of your choosing).

  • Gifts Of Retirement Assets

    By naming the Ballet as a beneficiary of your retirement plans— IRA, 401k, 403b, etc.— a donor will reduce or eliminate income and estate taxes and may increase the amounts passing to your heirs.

    Donating retirement plans to charity can be an excellent choice for many donors, as retirement assets can be subject to multiple levels of taxation. The combination of federal and state income and estate taxes can seriously erode the value of retirement savings. By giving these assets to an organization you care about, you can save your estate both income and estate taxes.

  • Gifts of Life Insurance

    The large cash value resulting from a relatively small premium makes a life insurance policy an attractive planned gift. A gift of life insurance may be made in one of two ways:

    1. You may donate a fully paid-up policy, naming the Ballet irrevocable owner and beneficiary. 
    2. You may donate a new single-premium policy, naming the Ballet as irrevocable owner and beneficiary.

  • Charitable Gifts Annuities

    A charitable gift annuity is a contract between Pennsylvania Ballet and the donor that provides income for life for the donor and even for the donor's spouse after the death of the donor. The amount of income received depends on the age(s) of the beneficiary(ies) and is higher for older beneficiaries.

    To establish an annuity, a donor must make a minimum gift of $10,000 in the form of cash, stock, bonds, or real estate to the Ballet. In return, you will receive a stream of income every year for the rest of your life. In addition to the annuity payments, the donor will receive an income tax deduction in the year the gift is made, and a portion of each payment may be tax-free.

    Donors may also choose to do a deferred gift annuity, in which income payments do not begin until a future date that is chosen by the donor. The longer the delay between the creation of the deferred gift annuity and the commencement of payments, the larger the charitable deduction for current income tax purposes.

    Payout rates, or the percentage of the charitable gift annuity principal that is paid out every year, change periodically, affecting both income to the beneficiary(ies) and the current income tax deduction. The most current rate information may be obtained by contacting the Development Office at Pennsylvania Ballet. Please call 215.587.6912 for more information.

  • Charitable Remainder Trust

    As with a charitable gift annuity, a charitable remainder trust enables a donor to receive income for life while making a sizable donation to a charity she cares about.

    A charitable remainder trust allows a donor to transfer assets (such as stocks and bonds, real estate, works of art or antiques) into a separately managed trust that will provide income for life or for a specified period of years to beneficiaries named by the donor (the beneficiary is often the donor herself or her children). The donor decides the payout of the trust in consultation with trustees who are selected by the donor. The beneficiary may receive a fixed dollar amount from the trust annually or a fixed percentage of the trust's assets, which would be revalued every year. At the end of the life of the trust, the assets in the trust go to the charity named by the donor.

    The minimum gift for establishing a Charitable Remainder Trust is $100,000.

  • Charitable Lead Trust

    A charitable lead trust is a great way for a donor to support the Ballet now while preserving a large portion of his or her estate and passing the assets at a reduced estate-tax basis to the donor or the donor's beneficiaries.

    The trust holds income-producing assets for a fixed period of time (which can be the donor's lifetime), during which income is paid to the Ballet. At the end of the trust term, the assets are returned to the donor or to another beneficiary.

    The minimum gift for establishing a Charitable Lead Trust is $1,000,000.