Planned Giving: Studio Infinitum
Join Studio Infinitum
Make Great Theatre a Part of Your Legacy
Already Planned Your Gift?
Make Planned Giving Work for You
Contact
Join Studio Infinitum
The Studio Theatre has clearly hit its mark at the center of contemporary theatre in Washington, D.C., and has become a true national resource for theatrical innovation, creativity and originality. As we enter our fourth decade, we invite you to become a member of Studio Infinitum, the planned giving program dedicated to assuring that future generations will continue to benefit from The Studio Theatre’s mission—entertaining and stimulating audiences, educating and inspiring actors and other theatre professionals, forging a cohesive bond with its multifaceted “Studio District” neighborhood in Washington and enhancing its position as a national artistic force.
By joining Studio Infinitum and including The Studio Theatre in your estate plans, you will be assuring your own legacy by securing the Studio’s award-winning role in contemporary American theatre for future generations. Planned giving allows you the satisfaction of contributing to the important, on-going and future work of the Studio, while providing significant tax and financial benefits to you and your heirs.
Make Great Theatre a Part of Your Legacy
Planned giving helps you balance your charitable interests with your financial goals. Because certain types of planned giving can minimize estate and capital gains taxes, provide sizable income tax deductions as well as generate income streams, planned giving permits individuals to support their favorite charities while simultaneously obtaining financial benefits for themselves and other beneficiaries. Once you match your objectives with the proper gifting vehicle, planned giving allows you the satisfaction of realizing your charitable intent, while continuing to implement the financial plans you have developed for yourself and your family. Given the numerous approaches to planned giving, The Studio encourages you to contact your own financial advisor or attorney for further advice, so that you can select the planned giving approach that will be most responsive to your situation.
Already Planned Your Gift?
If you have already provided for The Studio Theatre in your estate plans, please contact the Development Department at (202) 232-7267 or development@studiotheatre.org so we may formalize your commitment, properly recognize your long-term generosity and include you as a member of Studio Infinitum.
Make Planned Giving Work for You
Bequest
WHAT: You can make a bequest (a gift through your will) for a specific amount of money or a percentage of your estate. This can be accomplished by either creating a new will or adding a codicil to your existing will.
WHO: Individuals who want to make a charitable gift and keep control of their assets during their lifetime.
WHY: Funds gifted to the Studio would not be considered part of your taxable estate and, therefore, a bequest would act to reduce eventual estate taxes.
Life Insurance Policies
WHAT: You can name the Studio as a beneficiary of your life insurance policy or you can transfer ownership of the policy to the Studio.
WHO: Individuals who own a life insurance policy but no longer have the need for the insurance protection.
WHY: Designating the Studio as the beneficiary or owner of a life insurance policy may yield income tax deductions and reduce estate taxes.
Charitable Remainder Trust (CRT)
WHAT: You can create a CRT by funding it with assets such as cash, securities, real estate, etc. The CRT then pays you, or others you name, a specific dollar amount (Charitable Remainder Annuity Trust) or a percentage of trust assets (Charitable Remainder Unitrust) for a number of years or for life. After payment of the Annuity amount or Unitrust interest to you or your beneficiaries for the specified period, the remaining assets would go to the Studio.
WHO: Individuals seeking current income tax deductions, an income stream for themselves or others, and the ability to make a sizable charitable contribution in the future. CRTs are particularly beneficial for individuals with highly appreciated assets, like stocks or real estate.
WHY: CRTs can provide for an immediate income tax deduction, create a new income stream for you, your spouse, a parent or other beneficiaries, as well as reduce or eliminate capital gains and/or estate taxes. Highly appreciated assets are most appropriate to transfer to a CRT, as no capital gains taxes are triggered by the sale of the assets within the CRT.
Charitable Lead Trust (CLT)
WHAT: As with a CRT, you can create a CLT by funding it with assets such as cash, securities, real estate and the like. The CLT would then pay a specific dollar amount (Charitable Lead Annuity Trust) or a percentage of trust assets (Charitable Lead Unitrust) to the Studio for a number of years, or for the lifetime of one or more persons. After the payment of the Annuity amount or Unitrust interest to the charity, the remainder would be distributed to the beneficiaries you designate.
WHO: Individuals with taxable estates and/or assets with growth potential, who are primarily interested in making a sizable immediate charitable contribution, yet still have a desire to pass certain assets onto their heirs.
WHY: CLTs reduce gift and estate taxes, and any assets that appreciate while part of the CLT are distributed to the eventual beneficiaries gift and estate tax free.
Retirement and Pension Plans; IRAs
WHAT: You can name the Studio as a beneficiary of your retirement assets contained in Individual Retirement Accounts (IRAs), 401(k), 403(b) or other qualified pension plans.
WHO: Individuals with substantial sources of retirement income who, most likely, have other assets that they are planning to bequeath to their heirs.
WHY: The assets in IRAs and pension plans generally grow income tax-free, with income tax triggered when funds are distributed to the individual. The advantages of designating the Studio as a beneficiary of a retirement account are twofold: (1) these assets are transferred to the charity without ever becoming subject to income tax; and (2) as with a bequest in your will, donated funds are not considered part of your taxable estate and, therefore, the donation acts to reduce eventual estate taxes. Naming the Studio as a beneficiary of your retirement plan is easy to execute, does not require a legal or tax professional to draw up legal documents, and can often be done on-line by simply completing a “Change of Beneficiary” form.
Contact: For more information on planned giving and Studio Infinitum, contact the Development Department at (202) 232-7267 or development@studiotheatre.org.