Ways to Give
Donors may make one-time gifts or pledges over a period of up to five years. Gifts of cash, as well as gifts of stocks, securities and other assets of value are welcome. All gifts to the Downtown Center for the Arts Campaign are tax deductible.
Cash Writing a check is the easiest and most common way to make a gift. You may send your check with your signed pledge card, or you can indicate on your pledge card when you wish to send your check. Cash gifts may be used annually as charitable deductions on your federal income tax return. You may carry forward any unused deductions over the next five years.
Pledges Donors can make a three year commitment to the annual campaign; or a pledge of up to 5 years to the capital campaign. Your first payment can begin at the date of your choice. Pledge reminders will be sent to you in the months you indicate on your pledge card, either semi-annually or annually.
Credit Card The Campaign will accept gifts by credit card. Please provide your credit card number, expiration date, signature, and amount of your gift with your pledge card.
Payroll Deduction You may make payments against your pledge through payroll deduction. Please consult your employer to make sure this option is available.
Appreciated Securities Gifts of appreciated securities, such as stocks (including mutual fund shares) and bonds, are tax deductible at their fair market value on the day they are transferred to the Campaign account. Such gifts are deductible annually up to 30% of your adjusted gross income on your federal income tax return with the same five-year carry-over deduction provision as cash gifts. Remember that you must transfer the securities to the Campaign’s account in order to avoid paying capital gains tax on the profit; you cannot sell the securities first.
Planned Gift Opportunities Immediate gifts, such as those listed above, will be the most useful to the campaign, at this time. However, you may wish to consider making a deferred gift in order to maximize your gift.
Listed below are several deferred or planned giving opportunities that may enable you to make an even larger gift to the campaign:
Life Insurance By giving an insurance policy already in force, you will receive a charitable deduction for the cash value of the policy. You may take out a new insurance policy on your life, or assign one already in force, naming the Steelville Arts Council as the owner and beneficiary. Any premiums will be tax deductible.
Gifts in Trust You may make a gift of cash or appreciated securities through a Charitable Remainder Trust or Charitable Lead Trust. You may receive the income from the Remainder Trust until your death, the death of your spouse, or specified time when the Steelville Arts Council receives the remainder in the trust. You will receive a charitable deduction for the gift based on the terms of the trust.
Retention of Life Interest Gift You may give a personal residence or farm and retain lifetime use of the property. You will receive a charitable deduction for the gift based on the terms of the agreement. The property is removed from your estate for tax purposes. The donor is responsible for taxes, insurance and maintenance. At your death or the death of the surviving spouse, the gift becomes the property of the Steelville Arts Council.
Retirement Plan You may name the Steelville Arts Council as beneficiary of all or a portion of a retirement plan such as an IRA or Keogh plan. The trustee of the plan will help you make that beneficiary designation. Upon your death, the gift will come to the designee without probate.
Savings Beneficiary You may name the Steelville Arts Council as a beneficiary of any savings account, CD or annuity. Upon your death, that account becomes the property of the recipient automatically and without probate.
A Bequest Through Your Will You may name the Steelville Arts Council in your will or in a codicil to your will for a specific dollar amount, a percentage of your estate, or as a final contingent beneficiary.
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