One of the best ways to support the Northwest Chamber Chorus and to preserve and enrich our choral legacy in Seattle is to make a planned gift. There are several alternatives, and all can provide significant tax advantages:
Support the Chorus with a monthly sustaining donation, charged to your credit card
One of the very easiest ways you can support the Chorus is to set up a monthly charge on your credit card. Small amounts contributed monthly add up to a big contribution, and they help us IMMENSELY to predict what our revenues will be. This is easily and securely done online through our non-profit PayPal account, or directly through Executive Director Betsy Brockman. See Support for details.
Note: Monthly charges can be suspended online or through Betsy Brockman at any time.
Support the Chorus with a Gift of Stock or Other Assets
A gift of appreciated securities (stock) or other appreciated assets can avoid capital gains taxes and entitle you to an income tax deduction for the fair market value of the gift asset. To give securities that are held in a brokerage account, you need the NWCC BROKERAGE ACCOUNT NUMBER AND OTHER TRANSFER INFORMATION. Contact Betsy for this information (206-523-1196 / email@example.com).
Support the Chorus in Your Will or Revocable Living Trust
One easy way to make a planned gift is through a bequest or other gift in your will or revocable living trust. A bequest can be simple to arrange, and can reduce estate taxes. By making a gift to the NWCC under your will or revocable living trust, you retain the use of the gift property during your lifetime.
Support the Chorus Using Your Qualified Retirement Plan Account or IRA
To obtain additional tax benefits, designate the NWCC as beneficiary of an IRA or qualified retirement plan, such as a 401(k), pension or profit-sharing plan. In addition to saving estate taxes, your gift can avoid deferred income taxes, reducing the cost of the gift to your other beneficiaries. Because most IRAs and qualified retirement plan accounts do not pass under wills or revocable living trusts, make your gift through a beneficiary designation, naming the Northwest Chamber Chorus.
Support the Chorus with a Charitable Remainder Trust or Other Charitable Remainder Gift
If you wish to retain the lifetime use of the gift property but also wish to obtain immediate income tax benefits, you can establish a charitable remainder trust or make another type of charitable remainder gift to the NWCC, such as establishing a charitable gift annuity. These arrangements can provide many tax benefits, including an immediate income tax deduction, avoidance of capital gains taxes on appreciated gift assets, and avoidance of estate and gift taxes. Contact the NWCC if you wish to discuss these alternatives.
Support the Chorus with a Charitable Lead Trust
Another way to benefit both the NWCC and other beneficiaries is to establish a charitable lead trust, committing the income from assets to the NWCC for a set period of time and then having those assets pass to the other beneficiaries. Charitable lead trusts also can result in substantial tax advantages, including an immediate income tax deduction and avoidance of capital gains taxes, and can reduce future gift and estate taxes by reducing the taxable value of the assets eventually passing to your other beneficiaries. Contact the Chorus if you wish to discuss these alternatives. Be sure to consult with your own legal, tax or financial advisor before deciding on any of these planned gift alternatives.
If you wish to benefit the Northwest Chamber Chorus with a gift of stock, charitable remainder or lead trust, to place restrictions on your gift, or to obtain further information about making a planned gift to the Chorus, contact Executive Director Betsy Brockman in the Chorus Office.
Northwest Chamber Chorus
PO Box 45312
Seattle, WA 98145