Planned Giving

Giving in your Will or Trust
The simplest planned gift is to make a bequest to the Annapolis Symphony Orchestra in your will or trust. The Symphony can provide you with sample language to include in your estate plan.

Giving from your IRA (Individual Retirement Account)
During your life, you may make a charitable gift directly from your IRA account to the Symphony, as part of your Required Minimum Distribution.

Giving from your Financial Assets
An easy way to make a planned gift is to designate the Symphony now as the beneficiary of one or more of these assets after your lifetime.

• IRA
• Life Insurance policies
• Bank Accounts and CDs
• Retirement Plan Assets

Giving while keeping an Income for Life
Charitable Gift Annuities

• A charitable gift annuity provides you with an income for life along with significant tax benefits and leaves the proceeds to the Symphony after your lifetime. Contact the Symphony office if interested.

Charitable Remainder Trusts (CRT)

• For donors with significant assets or investments, a charitable remainder trust provides an income for you or your loves ones during life and leaves the remaining assets (“remainder”) to the Symphony afterward.
• There are several kinds of CRTs, depending upon how the income is calculated and derived, and how it relates to the principal.
• Charitable Remainder Trusts require carefully planning with your estate planning attorney and tax professional. The Symphony is happy to be a partner in that planning. Significant tax benefits are possible.
• The Symphony does not serve as the Trustee of a CRT during the donor’s (or other beneficiaries’) lifetime but accepts the remainder afterward. Typically, a trust company, community foundation, or bank serves as the trustee.

Charitable Lead Trusts

• A Charitable Lead Trust (CLT) is the opposite of a CRT. During your lifetime, the trust assets provide an income to the Symphony, while after your lifetime, the assets pass on to your heirs, sometimes with significant tax benefits.
• CLTs, too, require very careful planning and execution with your professional advisers. The Symphony does not serve as Trustee.

The Executive Director of the Symphony can discuss your charitable intentions with you, outline some options, and ensure that your giving will support the programs you care about most.

Most planned gifts will require the assistance of an estate planning attorney, and some require the help of your tax planner as well.

Unless the donor directs otherwise, the Symphony adds planned gifts to its Endowment. The Endowment is a permanent fund from which a small portion (usually 5%) is drawn every year to support the Symphony’s programs.

For example, a $100,000 planned gift, added to the endowment, would produce about $5,000 per year to support Symphony programs. The Endowment’s value follows capital markets, so as markets increase and the value of the gift increases, the annual draw would increase. In down markets, however, the annual draw decreases as the size of the principal decreases.

Endowment gifts may be directed to specific purposes. It is best to plan such gifts in consultation with the Symphony’s development officers, to ensure that the estate plan’s language directs the gift correctly according to your intention. The Symphony reserves the right to refuse gifts that are directed to purposes not approved by the board.

A full set of the Symphony’s Gift Acceptance Policies may be found here.