Bequest • Charitable Remainder Trust • Tax Advantages of a CRT • Charitable Lead Trust • Retirement Plan • Life Insurance Policy
As the country’s most influential not-for-profit theatre company, the future of Roundabout is vital to our community in New York City and across the nation.
So that we can preserve this important cultural institution for generations to come, we hope you will join us in the Yegen Society by making a planned gift to Roundabout.
The Yegen Society welcomes all individuals and couples who have generously included Roundabout in their estate plans and/or as beneficiary of a charitable trust, retirement plan or life insurance policy. The Society is named in honor of longtime Roundabout supporter Christian C. Yegen, and in recognition of the extraordinary leadership he and his family provided during a time of financial crisis and transition at Roundabout.
In appreciation of your investment in Roundabout’s future, we are also pleased to offer the following benefits and privileges to all Yegen Society members: Playbill recognition, access to our Patron Lounges, invitations to virtual and in-person Insider Events throughout the season, and recognition on a permanent plaque in the Langworthy Lounge at Roundabout’s flagship Todd Haimes Theatre.
The Yegen Society is one of the simplest ways to show your commitment to Roundabout’s future. There are also many tax advantages to making a planned gift and some vehicles can even provide retirement income for you or a loved one. Planning now will help ensure that the people and causes important to you are remembered after your lifetime.
If you need help making your planned gift or have a question, please contact our development office at 212.719.9393, or send us an email.
BEQUEST
Bequests can be made in the form of a specific gift of cash or property, a general sum of money, or a percentage of the remainder of an estate or trust and they are distributed at your death. The full amount of a bequest to Roundabout is usually deductible for estate tax purposes. The following is suggested language for including Roundabout in your will: “I give, devise and bequeath to Roundabout Theatre Company, Inc., a New York not-for-profit corporation with its principal office at 231 West 39th Street, Suite 1200, New York, NY 10018, for its general purposes, the sum of $______ (or state a fraction or percentage of the rest, residue and remainder of my estate, both real and personal).”
Roundabout’s correct legal designation is:
Roundabout Theatre Company, Inc.
Federal Tax ID number 13-6192346
CHARITABLE REMAINDER TRUST
A Charitable Remainder Trust (CRT) is created by a transfer of assets to a trust that will pay you or another beneficiary income for life or for a period of years. At the death of the last beneficiary, the remaining property in the trust passes to Roundabout. There are two basic kinds of CRTs:
Annuity Trust: provides beneficiary(s) a fixed dollar income and is determined when gift is made.
Unitrust: provides beneficiary(s) a fixed percentage of the fair market value of the trust assets, recalculated annually or at some other fixed period.
Tax Advantages of a CRT
- Receive an immediate charitable income tax deduction.
- Tax-free Diversification of the assets—the trust pays no capital gains tax on the sale of trust assets
- The entire value of the trust at your death is excluded from your estate and is not taxed.
CHARITABLE LEAD TRUST
A Charitable Lead Trust (CLT) is created by a transfer of assets to a trust that will pay Roundabout income for a term of years. At the end of the term, you or a beneficiary receives the remaining trust assets. A CLT can be created during life or at death (under the terms of your will). This planned giving option is a great way to transfer assets to future generations while benefiting Roundabout today. The tax advantage is that it removes assets from your estate and minimizes your estate and gift taxes.
RETIREMENT PLAN
Retirement Plans are one of the best assets to own during your life but they are the worst asset for your family to inherit. After your lifetime, retirement plan assets are subject to income and estate taxes and their value can be reduced by as much as 75%. Naming Roundabout as a beneficiary of funds in your retirement plan can be easy and will reduce the size of the taxable assets and avoid subjecting the estate or beneficiary to income taxation.
Contact the financial institution handling your Individual Retirement Account (IRA), or other retirement plan or profit sharing account. A simple form from the manager of the fund is normally all that is required to name Roundabout as a beneficiary of your retirement plan.
Roundabout’s correct legal designation is:
Roundabout Theatre Company, Inc.
Federal Tax ID number 13-6192346
LIFE INSURANCE POLICY
Using a life insurance policy in your planned giving is a perfect way to make a leveraged gift to Roundabout. By making small payments each year into your policy for a number of years, you can leave a bequest of sizable proportions to Roundabout. After your lifetime, the policy proceeds going to Roundabout will be an estate tax charitable deduction.
There are two ways to ways to give a gift of a life insurance policy:
Gift of existing policy: Roundabout becomes the owner and beneficiary. You get an immediate charitable income tax deduction for the lesser of current cash value or premiums paid. Any future premiums you pay are deductible as contributions.
Name Roundabout as a beneficiary of a new or existing policy: You keep control of the policy while naming Roundabout as a full or partial beneficiary. For this gift you are entitled to a charitable deduction for the value of the initial premium and you will receive additional deductions when you make later premium payments.