top of page
Molly and Danny.jpg

MAXIMIZE YOUR IMPACT
Join the Deane Center in keeping the arts alive in our community.
Receive tax benefits and make the most of your contribution by donating non-cash assets.

donor advised solutions

image000000 (3)_edited.png

A donor-advised fund, or DAF, is like a charitable investment account to support charitable organizations you care about. When you contribute cash, securities, or other assets, you are generally eligible to take an immediate tax deduction. Then, those funds can be invested for tax-free growth, and you can recommend grants to any eligible IRS-qualified public charity.  Donor-advised funds are the fastest-growing charitable giving vehicle in the US because they are one of the easiest and most tax-advantageous ways to give to charity. 

gifting stock & Securities

Verlong THompson at the Deane Center July 2022.jpg

When you gift stocks and other securities directly to a charity, you make an outsized impact without taking money directly out of your bank account. Plus, neither you nor the charity will be taxed on the gains for appreciated assets you donate. Meet your giving goals, enjoy potential tax benefits, and contribute to the change you want to see. That's a triple-win!

Qualified Charitable Distributions

Gabe_Kat_2 (1).jpg

Qualified Charitable Distributions (QCDs) are distributions from your Individual Retirement Account (IRA) made directly to a qualified nonprofit organization without having the distribution counted as taxable income.

QCDs are also sometimes referred to as IRA Charitable Rollovers.

Currently, up to $100,000* in IRA funds can be counted as QCDs annually. For married couples, each spouse can make QCDs up to the $100,000 limit for a potential total of $200,000.

* The amount that donors can give to charity via QCD will increase by a percentage in 2024 to account for inflation.

If you are 70½ years of age or older and have a Traditional IRA, you are eligible to make a QCD.

planned giving

MEE_4353.jpg

Planned gifts can come in a variety of forms, from simple bequests to complex trusts, all with different requirements and advantages depending on your specific circumstances. However, planned gifts most commonly fall within a few categories: outright gifts of cash or non-cash assets, gifts that pay income, and more complex gifts that protect your assets. 
 
Within these broad categories, there are a few common ways to give:

Bequests

Bequests are a popular and fairly simple way to make a planned gift. These ‘outright’ gifts are charitable contributions left as a bequest in a legal will. They’re usually given as a specific amount, a remainder of your estate after other bequests have been paid, or a percentage of your total wealth.

 

Life Insurance Policies

 You can donate a life insurance policy that you no longer need, or you can name a nonprofit as the beneficiary of a policy. For the gift of a paid-up policy, you will be entitled to an income tax deduction equal to the lesser of the policy's cash value or the total premiums paid. Even if you are still paying premiums on your policy, you can gift it away, and the future gifts to us to pay the premiums will be tax deductible.

Charitable gift annuities

A charitable gift annuity allows you to give a large amount of cash or securities in exchange for a fixed income payment for life. The nonprofit keeps any leftover funds as well as any income generated from investing those funds.

Charitable remainder trusts

There are a few types of charitable remainder trusts, but in each, the remaining funds go to the nonprofit after the trust is terminated. A charitable remainder annuity trust pays you a fixed amount based on a percentage of the initial assets used to fund it. A charitable remainder unitrust pays you a percentage of its principal and is revalued annually so that payments increase over time.

Charitable lead trusts

When you make this type of gift, the charitable lead trust pays an ‘income’ to the nonprofit for a specified number of years or for your lifetime. And when that term is up, the assets are given back to you or your beneficiaries.

An example of leaving a portion of your estate to the Deane Center in your will: 

"I give, devise and bequeath to the Deane Center for the Performing Arts, Inc., a Pennsylvania nonprofit corporation and a qualified 501(c)(3) organization, located in Wellsboro Pennsylvania, Federal Tax ID Number ­­­­­­­­­­­­­­­­­­20-4504896, the sum of ________ (or % of my estate), (or specified securities herein described) to be used towards its mission of providing a venue for programs and classes and offering exceptional arts and entertainment that nurture the diverse interests of Tioga County and the surrounding region for the benefit of the community and the performing arts.” **

** The forgoing is provided for general informational purposes only.  It is solely a convenience to you and does not constitute legal or other professional advice on any subject matter.  Therefore, you should not rely solely upon this information in making any decision.  Please consult with your estate planning attorney.

bottom of page