A Lasting Legacy
The Legacy Fund was established to support the arts now and for future generations. These funds will provide long-term financial stability to the Campanile. Legacy Giving provides recognition for and appreciation of those individuals who have made a planned gift to the Campanile Center for the Arts. This is open to everyone who has made a provision for the Campanile to receive funding through a will or trust, or has named the Campanile a beneficiary of a charitable trust, life insurance policy, or retirement plan.
Representing the majority of planned gifts to the Campanile, bequests are included in your will or living trust and can be made for a specific dollar amount, a percentage of your estate or a specific asset
Charitable Remainder Trust
A charitable remainder trust is a transfer of assets to a trust which makes payments to you of either a fixed amount (annuity trust) or a percentage of the trust principal (unitrust). An immediate charitable deduction on your income taxes for the value of the future charitable gift is received and, if the asset is long-term capital gain property, you are exempt from any capital gains tax. When the trust ends, the Campanile receives all of the trust assets.
Qualified Charitable Distributions
A qualified charitable distribution (QCD) allows individuals who are 70½ years old or older to donate up to $100,000 total to one or more charities directly from a taxable IRA instead of taking their required minimum distributions.
Charitable Lead Trust
This type of trust pays income to the Campanile for your life or a term of years. You receive an immediate charitable deduction on your income taxes for the value of the present charitable gift. When the trust ends, your heirs receive all of the trust assets.
Gifts of retirement plans (e.g., IRA, 401(k) and Keogh plans) to your heirs are subject to both income and estate taxes. Naming the Campanile as the beneficiary of your retirement plan is an excellent way to avoid subjecting these assets to double taxation and allows us to benefit from the full value of your retirement plan.
Gift of Personal Residence
You may make a gift of your personal residence or property to the Campanile and retain the right to live there for the remainder of your life. You receive an immediate charitable deduction on your income taxes for the value of the future charitable gift. Upon your death, the Wilson may use or sell the property.
Paid-up policies that are no longer needed to protect your family can be gifted to the Campanile as well as new or outstanding policies in which you commit to covering the premium payments. You receive an immediate charitable deduction on your income taxes for the value of the insurance policy and future charitable deductions for any premiums paid by you.