Planned Giving

Ways to Give

There are a variety of methods to consider when including the Tower Theatre Foundation in your estate planning. We encourage you to discuss philanthropic options with your financial advisors, as the charitable giving information provided here is not intended as tax or legal advice. For more information on how you can leave a lasting legacy to the Tower Theatre Foundation, please email Anthony Albertazzi.

• Cash – An outright contribution of cash can be the simplest way to provide a bequest.
• LIFE INSURANCE – Make the Tower the beneficiary of a life insurance policy, and your estate receives a charitable deduction from estate taxes for that gift.
• Publicly Traded Securities – Stocks and bonds used as charitable gifts entitle the donor to a charitable income tax deduction for the full fair market value of those securities. You also may be able to defer or completely avoid capital gains tax on the securities, depending on the type of gift. Publicly traded securities may be transferred electronically from a brokerage account directly to the Tower Foundation
• Retirement Plan Gifts – Providing a gift from your IRA or other retirement plan can be an efficient and simple way to include the Tower in your estate plan. The best method is to name the Tower Theatre Foundation as a primary or secondary beneficiary. You can obtain a beneficiary designation form from your IRA plan administrator.
• IIRA Required Minimum Distribution (RMD) – Anyone over the age of 70½ can distribute up to $100,000 in a calendar year from an IRA to a nonprofit tax-free. This distribution can significantly benefit an IRA owner required to make annual minimum required distributions, as it is not included in the donor’s income for tax purposes.
• Charitable Remainder Trusts (CRT) – This irrevocable trust regularly distributes a variable percentage of its assets to you for the rest of your life or up to 20 years. At your death, the remaining balance of the CRT’s assets are distributed to the designated charity. The trustee determines the fair market value at the time of contribution.
• Charitable Remainder Trusts Annuity Trusts – Similar to a CRT except you receive annual payments of a fixed percentage of the trust’s value. Once cash, securities or other appreciated properties are transferred into an annuity, the trust makes fixed annual payments to you. When the trust terminates, the remainder passes on to the beneficiaries you named.