Planned & Estate Gifts
Linden Tree Society
The Linden Tree Society allows Rockport Music to recognize those friends who make commitments by including the organization in their long-term financial plans. Bequests and other types of deferred gifts help perpetuate the legacy of Rockport Music’s founders, expand the organization’s capacity and enable it to prepare to meet future challenges. Planned gifts may have favorable tax consequences, allowing donors to leave a lasting legacy to Cape Ann’s cultural community while benefiting loved ones.
Supporting Rockport Music through a bequest is easy! Simply include the following language in your estate plan:
“I give and bequeath to Rockport Music, Inc., a Massachusetts charitable corporation, or its successor, Federal Tax Identification Number: 22-2479696, the sum of $________ (or its equivalent in value) or, ________% of my residuary estate, for its unrestricted purposes.”
A bequest of this type allows Rockport Music to use your gift in the area in which it is most needed.
For detailed bequest information you may wish to print and share with your attorney, please click HERE.
It is possible to name Rockport Music as a remainder beneficiary of your retirement account. You may continue to withdraw money from the plan during your lifetime but also make a gift to Rockport Music upon your death.
If you own life insurance policies that you no longer need, a gift of life insurance to Rockport Music could be a sensible, as well as generous, course of action. If you make Rockport Music the owner of the policy, you will normally receive an income tax deduction for the policy’s fair market value or cost basis, if lower, on the date of the gift. If you name Rockport Music beneficiary of the policy (and retain ownership), you will receive an estate tax deduction for the insurance proceeds.
When you donate real estate, you provide vital resources in support of Rockport Music’s mission. Real estate may be given outright, used to fund a charitable trust, or, in some cases, donated subject to a life estate. Planned gifts funded with real estate can be an excellent way to increase income and reduce capital gains and estate taxes. Nevertheless, gifts of real estate require the donor and the charity to take steps to ensure that the gift is suitable for both parties. These steps include completing an appraisal and an environmental assessment. We will be happy to help guide you through these steps.
For more information about any of these programs, please contact Kathy Urner-Jones, Senior Development Officer, at 978.546.7391 ext. 132 or firstname.lastname@example.org. Please also contact your tax advisor and/or estate planning counsel for more details.
PHOTO CREDIT: Robert Benson Photography