A Gift That Never Ends ...

Have you ever thrown a rock into the water? The ripple effects of the waves that it generates seem to be never-ending.

Now imagine a gift that you make to the Dallas Symphony Orchestra having this same effect. An endowment gift is a gift that can last forever and can even grow over time. Donors set up endowments for many reasons: love for the Orchestra, a special connection to the music or the joy of spreading the love of music to the next generation.

Contributions to the DSO's endowment help to strengthen the long-term viability of the Orchestra and its mission.

When you make an endowed gift, your contribution is invested with and becomes part of our assets within the Dallas Symphony Foundation. An annual distribution is made for the Orchestra's general purposes or a specific purpose you designate when the endowment is established. There are also tax benefits to establishing endowments during your lifetime, as well as estate tax benefits when they are established through your estate plans.

Tom Smith and Linda VanSickle Smith

Tom Smith and Linda VanSickle Smith

Linda VanSickle Smith, a horn player herself, has a very personal connection to the Dallas Symphony, having been a member of the Orchestra from 1965–1970. She chose to endow the Linda VanSickle Associate Horn Chair. "After playing with the DSO for five years after graduation from the Eastman Conservatory of Music, I have always felt a strong connection to this orchestra," Linda says. "It is a joy to experience the growth of the Orchestra since Maestro van Zweden has come to Dallas and a privilege to be part of their future."

The Dallas Symphony Foundation is the entity that maintains, invests and manages the DSO's endowed funds. Since the foundation's inception in 1977, nearly $100 million in operating support has been provided to the DSO from endowments that have been established by generous patrons throughout the years. Support ranges from unrestricted general support to the funding of guest artists, touring or education and outreach initiatives. Donors work with the DSO's endowment and gift planning staff to ensure that their gift matches their desired impact and their philanthropic goals.

Rita Sue and Alan Gold

Rita Sue and Alan Gold

DSO patrons Rita Sue and Alan Gold are deeply invested in the livelihood of the DSO. One of their interests lies in helping young musicians. A few years ago, they established an endowment to support the Lynn Harrell Concerto Competition. "These performances are always marvelous and inspire hope in my heart for the state of music for years to come," Alan says.

Planned gifts such as gifts made from a will or gifts from life insurance or retirement plans can be directed to the DSO's endowment in order to ensure long-term benefits from those gifts.

Remember those seemingly never-ending waves in the water? An endowment gift is the "rock" that generates those waves of long-term and on-going support for the DSO. It is the legacy of DSO patrons and a foundation upon which the DSO can continue to produce exceptional symphonic music and programming for years to come.

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PLANNED GIVING HOME

 

A charitable bequest is one or two sentences in your will or living trust that leave to the Dallas Symphony a specific item, an amount of money, a gift contingent upon certain events or a percentage of your estate.

an individual or organization designated to receive benefits or funds under a will or other contract, such as an insurance policy, trust or retirement plan

"I give to the Dallas Symphony, a nonprofit corporation currently located at Dallas, TX, or its successor thereto, ______________ [written amount or percentage of the estate or description of property] for its unrestricted use and purpose."

able to be changed or cancelled

A revocable living trust is set up during your lifetime and can be revoked at any time before death. They allow assets held in the trust to pass directly to beneficiaries without probate court proceedings and can also reduce federal estate taxes.

cannot be changed or cancelled

tax on gifts generally paid by the person making the gift rather than the recipient

the original value of an asset, such as stock, before its appreciation or depreciation

the growth in value of an asset like stock or real estate since the original purchase

the price a willing buyer and willing seller can agree on

The person receiving the gift annuity payments.

the part of an estate left after debts, taxes and specific bequests have been paid

a written and properly witnessed legal change to a will

the person named in a will to manage the estate, collect the property, pay any debt, and distribute property according to the will

A donor advised fund is an account that you set up but which is managed by a nonprofit organization. You contribute to the account, which grows tax-free. You can recommend how much (and how often) you want to distribute money from that fund to the DSO or other charities. You cannot direct the gifts.

An endowed gift can create a new endowment or add to an existing endowment. The principal of the endowment is invested and a portion of the principal’s earnings are used each year to support our mission.

Tax on the growth in value of an asset—such as real estate or stock—since its original purchase.

Securities, real estate or any other property having a fair market value greater than its original purchase price.

Real estate can be a personal residence, vacation home, timeshare property, farm, commercial property or undeveloped land.

A charitable remainder trust provides you or other named individuals income each year for life or a period not exceeding 20 years from assets you give to the trust you create.

You give assets to a trust that pays our organization set payments for a number of years, which you choose. The longer the length of time, the better the potential tax savings to you. When the term is up, the remaining trust assets go to you, your family or other beneficiaries you select. This is an excellent way to transfer property to family members at a minimal cost.

You fund this type of trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. You can also make additional gifts; each one also qualifies for a tax deduction. The trust pays you, each year, a variable amount based on a fixed percentage of the fair market value of the trust assets. When the trust terminates, the remaining principal goes to the DSO as a lump sum.

You fund this trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. Each year the trust pays you or another named individual the same dollar amount you choose at the start. When the trust terminates, the remaining principal goes to the DSO as a lump sum.

A beneficiary designation clearly identifies how specific assets will be distributed after your death.

A charitable gift annuity involves a simple contract between you and the DSO where you agree to make a gift to the DSO and we, in return, agree to pay you (and someone else, if you choose) a fixed amount each year for the rest of your life.

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