Planned Giving: Your Future and BAM's Future
Planned
giving is a valuable opportunity for individuals to tailor special
gift plans that can benefit BAM, now and in the future, and provide
the individual with important reductions in current personal income
taxes and estate taxes, while maintaining or even increasing income
from the donated assets involved.
Many vehicles exist to structure planned gifts including bequests,
charitable remainder trusts, charitable lead trusts, pooled income
funds, etc.
Depending on your goals for yourself, your
family, and BAM, one or more planned giving vehicles can be considered.
We urge you to consult
with your legal and financial advisors
to determine the most advantageous ways for you to give to BAM under
the current, applicable tax legislation.
Bequests
One of the easiest planned gifts to arrange is a bequest.
Bequests are gifts by will, whether in the
form of cash, securities or other property, and may be fully deducted
in determining federal and state taxes
on your estate. You may designate a specific
sum as a gift to BAM, or a percentage of
your residuary estate after provisions for
survivors
or others are fulfilled, or a combination
of these alternatives.
A simple way to
include BAM in a completed will is to
add a codicil, or addendum. A sample of this
text is the following:
"I give and bequeath to Brooklyn Academy
of Music, Inc., 30 Lafayette Avenue, Brooklyn, NY 11217, for
its [general] or [endowment] purposes, the amount of Five Thousand
Dollars ($5,000) or Five Hundred Shares of common stock of XYZ
Corp., or ______% of my remaining estate."
Gifts can be made to either the Brooklyn Academy of Music (Tax identification
number 11-2201344) to benefit
current annual programs, or the BAM
Endowment Trust (Tax identification
number
11-3312268) to endow and secure
BAM and its programming for the future.
BAM
Angels
Individuals who have made planned gifts to BAM are recognized
in the select group of patrons known as BAM Angels.
Contact Us
Please call Endowment and Development Director, Denis
Azaro, if you wish to discuss planned giving options or if you
would like additional information. We would be pleased to discuss
with you the many ways your contribution to BAM can benefit
a great cultural institution and provide tax savings for you.
Phone: 718.623.7810
E-mail planning@bam.org
Fax: 718.636.4171
Address: 30 Lafayette Avenue, Brooklyn, NY 11217