There are many ways to arrange a legacy gift to the Thrasher Opera House.
Charitable Bequest: Make a charitable gift from your estate, as noted in your will. A donation through your will or living trust -- called a bequest -- allows you to support our work in the future without actually parting with assets today. You can donate cash, real estate, marketable securities or -- more commonly -- leave us a percentage of the remainder of your estate after all other obligations have been satisfied. A bequest remains revocable until your death, giving you the ability to change your mind at any time should your circumstances change. Sample language: I give to the Thrasher Opera House, a not-for-profit corporation located in Green Lake, Wisconsin, (the sum of _____________ dollars) or (a specific asset) or (___________% of the remainder of my estate) to be used for its general purposes.
Beneficiary Designation: A beneficiary designation is the simplest way to make a legacy gift to us. Certain assets, such as retirement plan assets, life insurance or insurance annuities, are not distributed by your will or trust, but instead by the beneficiary designation form provided by the account administrator or insurance company. To complete your gift, simply name the Thrasher Opera House as beneficiary of a percentage (1-100) of the asset. Because this gift is not distributed until after your lifetime, you may change your mind at any time.
Charitable Gift Annuity: A contract under which tax-favored annuity payments are made to one or two individuals (annuitants) you select in equal installments in exchange for a gift of cash, marketable securities or other assets. The payment amount never varies and is based on the annuitant's age on the date of the gift. At the end of their lifetimes, the remaining portion of the donation is available for our use. If you would like the annuitants to receive immediate payments, you can choose an immediate gift annuity. If the annuitants are not ready to begin receiving payments but would like to do so at a future date, such as when they retire, you can establish a deferred gift annuity.
Life Insurance: Name the Thrasher Opera House as the primary, secondary or contingent beneficiary of a life insurance policy. (Naming us as beneficiary while you retain ownership of the policy, however, does not qualify you for an income tax deduction.) Or, you can name us as the beneficiary and also assign us ownership of the policy as a current charitable gift, which has tax benefits for you.
Charitable Remainder Trust: You create a special kind of irrevocable trust and fund it using cash or other assets. The trust makes regular payments to you for life or, if you prefer, for a fixed period of time up to 20 years. You may also choose for others to receive payments from the trust, such as your spouse, children or grandchildren. At the end of the trust term, the remaining amount in the trust is available for our use. A CRT can help defer or eliminate up-front capital gains tax and may offer more financial benefits than keeping an asset or selling it outright.
Charitable Lead Trust: A CLT is a more complex arrangement that works well if you anticipate your estate may be subject to federal estate taxes (currently levied on estates worth more than $5.12 million). You transfer assets into an irrevocable trust designed to reduce the taxes on the assets eventually transferred to your loved ones -- by donating a percentage of the trust's value to us for a specified period of time. At the end of the trust's term, the remainder is transferred to your loved ones with significantly reduced tax liability.
Retained Life Estate: With this type of gift, you donate property -- such as your home, vacation home or farm -- while retaining the right to live there for the rest of your life. You continue to care for the property, pay the taxes and insurance, and receive all rental income. After your lifetime, and that of another person if desired, our organization takes possession of the property. This donation frees you from the hassles of selling the real estate and can provide significant tax advantages.
Outright Gift: An outright donation of cash or other assets helps us meet our most pressing needs. It is the easiest type of gift to make and also provides you with the maximum tax deduction. With a gift you make today, you will also have the pleasure of seeing, firsthand, the effects of your generosity.
Want to be Anonymous?: The Thrasher Opera House has a designated endowment fund with the Green Lake Area/Ripon Community Foundation, an affiliate of the Oshkosh Area Community Foundation. If you wish to donate anonymously, gifts can be made directly to the Foundation without the Thrasher knowing your identity.