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tax-wise giving

These popular ways to give fuel our mission.

A TAX SAVING WAY TO HELP COLORADO BALLET

ira CHARITABLE ROLLOVER

See Your Generosity in Action

Make a difference today and save on taxes. It’s possible when you support Colorado Ballet through your IRA.


A Special Opportunity for Those 70½ Years Old and Older

You can give any amount (up to a maximum of $100,000) per year from your IRA directly to a qualified charity such as the Colorado Ballet without having to pay income taxes on the money. Gifts of any value $100,000 or less are eligible for this benefit and you can feel good knowing that you are making a difference. This popular gift option is commonly called the IRA charitable rollover, but you may also see it referred to as a qualified charitable distribution, or QCD for short.


Why Consider This Gift?

· Your gift will be put to use today, allowing you to see the difference your donation is making.

· Beginning in the year you turn 72, you can use your gift to satisfy all or part of your required minimum distribution (RMD).

· You pay no income taxes on the gift. The transfer generates neither taxable income nor a tax deduction, so you benefit even if you do not itemize your deductions.

· Since the gift doesn’t count as income, it can reduce your annual income level. This may help lower your Medicare premiums and decrease the amount of Social Security that is subject to tax.

NEXT STEPS:

1. Evaluate a sponsoring organization to make sure it supports your interests, values and the type of asset you are considering as a funding source.

2. Get to know the organization's policies and procedures-from minimum contributions to administrative fees. Each organization handles these details differently. 3. Contact the Advancement Team at 303-339-1629 or advancement@coloradoballet.org to discuss using donor advised funds to support Colorado Ballet and our mission.

4. Seek the advice of your financial or legal advisor.

5. If you include Colorado Ballet in your plans, please use our legal name and federal tax ID.

Legal name: Colorado Ballet
Legal address: 1075 Santa Fe Drive, Denver, CO 80204
Federal tax ID number: 84-6038137

IRA FAQS

Tip: It’s critical to let us know of your gift because many popular retirement plan administrators assume no obligation to notify a charity of your designation. The administrator also will not monitor whether your gift designations are followed. We would love to talk to you about your intentions to ensure that they are followed. We would also like to thank you for your generosity.

you can give from your ira in one of these ways

1. Make a distribution online - Log in to your IRA provider’s website to make a direct distribution.

2. Print and mail a distribution letter

This one-page letter is pre-filled with the information you need to make a distribution to Colorado Ballet. Simply add your information, print the letter, and mail to your retirement account provider.

IRA Distribution Letter

3. Share this page with your financial advisor

Your advisor knows your financial situation best. Share this opportunity with them to see how supporting Colorado Ballet can fit into your goals. 

I’M TURNING AGE 70½ IN A FEW MONTHS. CAN I MAKE THIS GIFT NOW?

No. The legislation requires you to reach age 70½ by the date you make the gift.

I HAVE SEVERAL RETIREMENT ACCOUNTS—SOME ARE PENSIONS AND SOME ARE IRAS. DOES IT MATTER WHICH RETIREMENT ACCOUNT I USE?

Yes. Direct gifts to a qualified charity can be made only from an IRA. Under certain circumstances, however, you may be able to roll assets from a pension, profit sharing, 401(k) or 403(b) plan into an IRA and then make the transfer from the IRA directly to Colorado Ballet. To determine if a rollover to an IRA is available for your plan, speak with your plan administrator.

CAN MY GIFT BE USED AS MY REQUIRED MINIMUM DISTRIBUTION?

Yes, absolutely. Beginning in the year you turn 72, you can use your gift to satisfy all or part of your RMD.

DO I NEED TO GIVE MY ENTIRE IRA TO BE ELIGIBLE FOR THE TAX BENEFITS?

No. You can give any amount under this provision, as long as it is no more than $100,000 per year. If your IRA is valued at more than $100,000, you can transfer a portion of it to fund a charitable gift.

WHEN DO I NEED TO MAKE MY GIFT?

We must receive your gift by Dec. 31 for your donation to qualify this year. If you have check-writing features on your IRA, please be aware that your check must clear your account by Dec. 31 to count toward your required minimum distribution for the calendar year.

I HAVE TWO CHARITIES I WANT TO SUPPORT. CAN I GIVE $100,000 FROM MY IRA TO EACH?

No. Under the law, you can give a maximum of $100,000 per year. For example, you can give each organization $50,000 this year or any other combination that totals $100,000 or less. Any amount of more than $100,000 in one year must be reported as taxable income.

MY SPOUSE AND I WOULD LIKE TO GIVE MORE THAN $100,000. HOW CAN WE DO THAT?

If you have a spouse (as defined by the IRS) who is 70½ or older, they can also give any amount up to $100,000 from their IRA.

I’VE ALREADY NAMED COLORADO BALLET AS THE BENEFICIARY OF MY IRA. WHAT ARE THE BENEFITS IF I MAKE A GIFT NOW INSTEAD OF AFTER MY LIFETIME?

By making a gift this year of any amount up to $100,000 from your IRA, you can see your philanthropic dollars at work. You are jump-starting the legacy you would like to leave and giving yourself the joy of watching your philanthropy take shape. Moreover, you can fulfill any outstanding pledge you may have made by transferring that amount from your IRA as long as it is $100,000 or less for the year.

FOR THOSE 59½ YEARS OLD OR OLDER

If you’re at least 59½ years old, you can take a distribution and then make a gift from your IRA without penalty. If you itemize your deductions, you can take a charitable deduction for the amount of your gift.

AT ANY AGE

No matter your age, you can designate Colorado Ballet as the beneficiary of all or a percentage of your IRA and it will pass to us tax-free after your lifetime. It’s simple, just requiring that you contact your IRA administrator for a change-of-beneficiary form or download a form from your provider’s website.

MOST POPULAR ASSET TO GIVE

APPRECIATED SECURITIES

Securities and mutual funds that have increased in value and been held for more than one year are one of the most popular assets to use when making a gift to Colorado Ballet. Making a gift of securities or mutual funds to us offers you the chance to support our work while realizing important benefits for yourself.

When you donate appreciated securities or mutual funds you have held more than one year to us in support of our mission, you can reduce or even eliminate federal capital gains taxes on the transfer. You may also be entitled to a federal income tax charitable deduction based on the fair market value of the securities at the time of the transfer.

Securities are most often used to support our work in the form of:

An outright gift. When you donate securities to Colorado Ballet, you receive the same income tax savings that you would if you wrote us a check, but with the added benefit of eliminating capital gains taxes on the transfer, which can be as high as 20 percent. Making a gift of securities to support our mission is as easy as contacting the advancement team to receive instructions for instructing your broker to transfer the shares or, if you have the physical securities, hand-delivering or mailing the certificates along with a stock power to us in separate envelopes. (Using separate envelopes safeguards your gift—the certificates will not be negotiable without the stock power.)

A transfer on death (TOD) account. By placing a TOD* designation on your brokerage or investment account, that account will be paid over to one or more persons or charities after your lifetime. It is not necessary for the TOD designation to transfer all of the account solely to charity—you can designate a certain percentage of the account. With a TOD account, the beneficiary you name has no rights to the funds until after your lifetime. Until that time, you are free to use the money in the brokerage account, to change the beneficiary or to close the account.

*State laws govern payable on death accounts. Please consult with your bank representative or investment advisor if you are considering this gift.

A gift in your will or living trust. (Chris, please hyperlink this first sentence to wills page) If you aren't ready to give up these assets during your lifetime, a gift of securities through your will or living trust allows you the flexibility to change your mind at any time. You can continue to receive dividends and participate in shareholder votes, and the securities are still yours if you need them for other expenses. In as little as one sentence you can ensure that your support for Colorado Ballet continues after your lifetime.

A donor advised fund. (Chris, please hyperlink this first sentence to DAF page) When you contribute to a donor advised fund with appreciated securities, you may receive a federal income tax charitable deduction for the fair market value of the asset and eliminate capital gains tax. Because of our nonprofit status, Colorado Ballet does not pay capital gain tax when we sell the gifted securities.

A memorial gift. If you have a friend or family member whose life has been touched by Colorado Ballet, consider making a gift to us in their name.

NEXT STEPS

1. Contact the Advancement Team at 303-339-1629 or advancement@coloradoballet.org for additional information on appreciated securities.

2. Seek the advice of your financial or legal advisor.

3. If you include Colorado Ballet in your plans, please use our legal name and federal tax ID.

Legal name: Colorado Ballet
Legal address: 1075 Santa Fe Drive, Denver, CO 80204
Federal tax ID number: 84-6038137

THE EASIEST WAY TO MAKE AN IMPACT ON COLORADO BALLET

wills AND LIVING TRUSTS

Interested in helping Colorado Ballet present exceptional classical ballet and contemporary dance through performances, training, education and community engagement but feel overwhelmed by the thought of writing another check or giving up your assets today? A simple, flexible and versatile way to ensure we can continue our work for years to come is a gift in your will or living trust, also known as a charitable bequest.

By including a gift to Colorado Ballet in your will or living trust, you are ensuring that we can continue our mission for years to come. Your gift also entitles your estate to an unlimited federal estate tax charitable deduction.

Use the following sample language to include a gift in your will to Colorado Ballet:

"I give, devise, and bequeath, to Colorado Ballet, a Colorado nonprofit corporation, (insert dollar amount, percentage of estate or exact description of property to be devised) for its unrestricted charitable use and purpose."

NEXT STEPS

1. Contact the Advancement Team at 303-339-1629 or advancement@coloradoballet.org for additional information on bequests or to chat more about the different options for including Colorado Ballet in your will or estate plan. 

2. Seek the advice of your financial or legal advisor.

3. If you include Colorado Ballet in your plans, please use our legal name and federal tax ID.

Legal name: Colorado Ballet
Legal address: 1075 Santa Fe Drive, Denver, CO 80204
Federal tax ID number: 84-6038137

CONTINUE SUPPORTING COLORADO BALLET AFTER YOUR LIFETIME

beneficiary DESIGNATIONS

Passionate about supporting Colorado Ballet and our mission even after your lifetime? It's not only possible, it's easy to do with a beneficiary designation to benefit Colorado Ballet. Just name Colorado Ballet as a beneficiary of all or a portion of your plan. You simply fill out a form that is entirely separate from your will—which makes this approach an easy way to give.

Not only is it an easy way to give, but it's also flexible—you aren't locked into the choices you make today. You can review and adjust beneficiary designations anytime you want.

NEXT STEPS

1. Contact the Advancement Team at 303-339-1629 or advancement@coloradoballet.org for additional information on beneficiary designations and how they can help support Colorado Ballet with our mission. 

2. Seek the advice of your financial or legal advisor.

3. If you include Colorado Ballet in your plans, please use our legal name and federal tax ID.

Legal name: Colorado Ballet
Legal address: 1075 Santa Fe Drive, Denver, CO 80204
Federal tax ID number: 84-6038137

HARNESS THE GIVING POWER OF A PRIVATE FOUNDATION - WITHOUT THE COMPLEXITY

dONOR aDVISED fUNDS

A donor advised fund (DAF), which is like a charitable savings account, gives you the flexibility to recommend how much and how often money is granted to Colorado Ballet and other qualified charities. You can recommend a grant or recurring grants now to make an immediate impact or use your fund as a tool for future charitable gifts.

You can also create a lasting legacy by naming Colorado Ballet the beneficiary of the entire account or a percentage of the fund. With a percentage, you can create a family legacy of giving by naming your loved ones as your successor to continue recommending grants to charitable organizations. Contact your fund administrator for a beneficiary form.

NEXT STEPS

1. Evaluate a sponsoring organization to make sure it supports your interests, values and the type of asset you are considering as a funding source.

2. Get to know the organization's policies and procedures-from minimum contributions to administrative fees. Each organization handles these details differently.

3. Contact the Advancement Team at 303-339-1629 or advancement@coloradoballet.org to discuss using donor advised funds to support Colorado Ballet and our mission.

4. Seek the advice of your financial or legal advisor.

5. If you include Colorado Ballet in your plans, please use our legal name and federal tax ID.

Legal name: Colorado Ballet
Legal address: 1075 Santa Fe Drive, Denver, CO 80204
Federal tax ID number: 84-6038137

TRANSFORMING REALTY TO GIFT REALITY

Real eSTATE

Want to make a gift to Colorado Ballet without touching your bank account? Consider giving Colorado Ballet real estate. Such a generous gift helps us continue to present exceptional classical ballet and contemporary dance through performances, training, education and community engagement for years to come. And a gift of real estate also helps you. When you give Colorado Ballet appreciated property you have held longer than one year, you qualify for a federal income tax charitable deduction. You avoid paying capital gains tax. And you no longer have to deal with that property's maintenance costs, property taxes or insurance.

Another benefit: You don't have to hassle with selling the real estate. You can deed the property directly to Colorado Ballet or ask your attorney to add a few sentences in your will or trust agreement.

NEXT STEPS

1. Contact the Advancement Team at 303-339-1629 or advancement@coloradoballet.org to discuss the possibility of giving real estate to Colorado Ballet.

2. Seek the advice of your financial or legal advisor.

3. If you include Colorado Ballet in your plans, please use our legal name and federal tax ID.

Legal name: Colorado Ballet
Legal address: 1075 Santa Fe Drive, Denver, CO 80204
Federal tax ID number: 84-6038137

Already included us in your estate plans? Let us know!

Name:
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For more information about supporting Colorado Ballet, please contact (303) 339-1618 or advancement@coloradoballet.org.

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