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The Pennsylvania Academy of Music is a unique and special place in central Pennsylvania, recognized for its talented students, dedicated artist-teachers, successful alumni and soon a new state-of-the art educational and performance facility. The Academy owes in great measure its achievements and prominent position to its friends and benefactors who have placed their trust in the Academy and its future.
The Encore Society
The future of the Academy depends on long-term planning, building new levels of support for programs, students and creative initiatives. This is why the Encore Society was formed as a designation for supporters who include the Academy in their own long-term plans. The Encore Society allows donors to incorporate their desire to support the Academy with sound financial planning for their own futures. In this way, both donor and Academy benefit.
There are a number of gift vehicles outlined here that can help donors obtain tax advantages, complete estate planning and provide for heirs, while providing for significant benefit to the Academy.
Bequests
Your bequest to the Academy will reduce the size of the taxable portion of your estate and thus decrease the amount of federal estate tax liability. At the same time, the Academy will benefit from the full amount of your testamentary gift
A Charitable Gift Annuity
Provides a tax deduction as well as income for you in exchange for a gift of cash or marketable securities. Annuity payouts are a percentage of the principal, dependent on your age.
A Charitable Remainder Trust
Is an irrevocable trust that provides income for you during your lifetime. The charity of your choice receives the residual of the trust assets upon your demise.
A Charitable Lead Trust
Provides your heirs with the residual after your demise and the charity receives income during your lifetime.
A Gift of Life Insurance
Name the Academy as owner and/or beneficiary of a paid-up policy. You, as donor, receive a charitable tax deduction equal to the cost basis in the policy or its replacement value whichever is less.
Retirement Plans
Leaving your retirement plan or a portion of it to the Academy is as simple as filling out a beneficiary form with your retirement plan administrator.
Real Estate
A gift of real property held for more than a year provides an income tax charitable contribution deduction equal to the property's full fair market value. You can avoid capital gains tax on the property's appreciation. Also, you can retain the right to continued use of the property while enjoying the benefits and rewards of charitable giving immediately.
Arranging for a Planned Gift
“Planned giving” is exactly that – a thoughtful, planned weaving of a donor's charitable intent into his or her overall financial planning objectives.
It is recommended that you consult with your financial planner and/or attorney. Academy staff will be happy to meet with you as you begin to consider a planned gift and help you explore the vehicle that would be most beneficial and convenient for you.
A confidential personal consultation and information on any of these giving opportunities can be obtained by contacting the Development Office of the Academy.
Development Office
Pennsylvania Academy of Music
717.399.9733
42 North Prince Street
Lancaster, PA 17603Music is enough for a lifetime, but a lifetime is not enough for music.
- Sergei Rachmaninoff (1873 -1943)
