Ways to Give
Charitable giving can be done in many thoughtful ways, and for the NorShor Theatre Capital Campaign, gifts may be pledged and payments spread over several years. Pledges can be paid over a period of up to 5 years. Here are a few examples of gifts that may suit your philanthropy planning:
- Checks, cash or credit card. These are the most common gifts made. Your gift will be deductible at its full value on your income tax; up to 50% of your adjusted gross income (tax deduction can be spread over multiple years, if needed; consult your tax advisor). Gifts ca be made by credit card.
- Publicly Traded Stocks. These are easy give and can offer you great tax advantages. If you have held the stock for more than 1 year, you can make a gift of publicly traded stock to the NorShor Theatre Capital Campaign and avoid paying capital gains tax on the transaction. Your broker can make the transaction electronically, upon your authorization.
- Real Estate. Residences, vacation homes, farmland and other real estate can be given, subject to The Duluth Playhouse’s Gift Acceptance Policy. You can even give your home, cabin, farm or vacation property and continue to live there during your lifetime.
- Qualified Retirement Assets. Your retirement fund can be taxed at a high rate if passed on to heirs, but can pass to charities without taxation. Leaving your remaining retirement assets to the NorShor Theatre Capital Campaign as part of your estate planning is a very simple gift to make.
- While this involves longer-term planning, a gift made through your will can benefit the NorShor Theatre in years to come, perhaps creating an endowment or meeting special needs of residents. You might wish to specify a specific amount or a percentage of your estate for the Campaign. Sample bequest language is available.