Gifts with Financial Benefits to You

Gifts with Financial Benefits to You

Secure the future of MSAC, and the arts in our communities. Leave your Legacy.

Gifts That Pay You Income

You can receive income for life while ensuring that families and students have access to affordable art and music enrichment.

If you are considering this type of gift, we recommend that you consult with your financial advisor.

Charitable remainder trust

You can receive income for life and reduce your taxes while supporting Monroe Street Arts Center by transferring assets to fund the trust. Not only does this pay income to you or your beneficiaries for life, but you also receive an income tax deduction the year you transfer assets to the trust. After all payments have been made, the remaining portion of the trust goes to Monroe Street Arts Center.

Charitable gift annuities

You can transfer assets to a charitable gift annuity and receive income for life.

This plan allows you to give a substantial donation to Monroe Street Arts Center while receiving tax-favored income for life. Charitable gift annuities offer attractive payout rates for those who want to receive income and provide access to affordable arts education.

Gifts That Reduce Your Taxes

Some legacy gifts made to Monroe Street Arts Center can have substantial tax savings.

If you are considering this type of gift, we recommend that you consult with your financial advisor, or CPA.

Retirement plan gift

You can reduce or even eliminate tax liabilities on your retirement plan by naming Monroe Street Arts Center as a direct beneficiary. The entire amount of your IRA, 401(k), or other retirement accounts may be taxed if you leave them to your heirs. Instead, consider giving them less tax-burdened assets like real estate and stock, and use retirement assets to create your legacy gift with MSAC.

Life insurance plan

If you have a life insurance policy that has outlasted its original purpose, you can use it to reduce your taxes and create a legacy gift for Monroe Street Arts Center.

Gifts of real estate

You may decide that the greatest gift you can make is to leave your home or farm to Monroe Street Arts Center. This kind of gift is ideal for people who intend to continue living in their home or property throughout their lifetime but still want to make a charitable gift.

Gifts of stock

Stocks, bonds, and mutual funds that have appreciated in value are among the best ways to ensure that Monroe Street Arts Center can help reduce the cost of arts education for families in your local community.

Savings bonds

When you redeem savings bonds, you or the person to whom you leave your bonds will owe income tax on the appreciation. You can eliminate the income tax on bonds you own that have stopped earning interest and that you plan to redeem. Since Monroe Street Arts Center is tax-exempt, 100 percent of your gift of savings bonds will support our mission.