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PLANNED GIVING |
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| About the Connecticut Players Society Those who provide for Long Wharf Theatre through a planned gift become members of Long Wharf Theatre’s Connecticut Players Society and receive recognition and benefits as members, including invitations to special events and related activities. Ways of Giving Gifts of Cash A cash gift will qualify the donor for a charitable deduction equal to the full amount of the gift. The deduction is limited in any one year to 50% of adjusted gross income, but any excess over the amount deducted the first year may be carried forward over the next five years (up to the annual 50% ceiling) until the value of the gift is fully deducted. Gifts of Stocks, Bonds and Appreciated Securities Gifts of appreciated assets held longer than one year will entitle the donor to a tax deduction for the full-appreciated value of their gift. In addition, there is no capital gains tax on the transfer. Federal law limits the deduction of all such gifts to 30% of adjusted gross income in the year of the gift, and allows the same five-year carryover as described above. Bequests A donor may chose to provide for Long Wharf Theatre by bequest. By naming LWT the beneficiary of a percentage of the donor’s estate or a fixed amount, the estate can receive tax benefits and the donor can provide a significant gift that might otherwise be impossible during their lifetime. The charitable bequest requires no immediate transfer of assets, does not reduce income, and allows flexibility in design. The official bequest language for Long Wharf Theatre is: “I, [name], of [city, state, ZIP], give, devise and bequeath to Connecticut Players Foundation [written amount or percentage of the estate or description of property] for its unrestricted use and purpose.” You may also direct your bequest to a specific area of the theatre’s activities including the education, internship, outreach, and new play development programs, or to our Endowment Fund, which sustains the future of Long Wharf Theatre. A Life-Income Plan These plans can enable the donor to receive immediate tax savings and provide income for life while making a gift to Long Wharf. In many cases, the donor can receive substantially increased income each year as a result of entering into a Life-Income Plan. Life-Income gifts include charitable gift annuities, charitable remainder and lead trusts and pooled income funds. Life Insurance Donors can receive tax benefits by naming Long Wharf the irrevocable owner and beneficiary of an existing life insurance policy that is no longer needed, or through the purchase of a new policy to benefit Long Wharf. You may also wish to consider the use of life insurance to replace for your heirs the value of a bequest to charities such as Long Wharf Theatre. If you are interested in making a planned gift to Long Wharf Theatre, please consider it carefully and discuss your wishes with your professional advisors. For a confidential discussion of planned giving options at Long Wharf Theatre, please contact Cornelia Evans, CFRE, Director of Development at 203.772-8237.
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