Pacific Repertory Theatre has been a part of the rich artistic and cultural life on the Monterey Peninsula for over thirty-five years, and Is the only professional theatre company in the region. To ensure its future, PacRep offers planned giving opportunities to those who feel passionate about continuing this legacy for future generations.
By including PacRep as a beneficiary in your bequest, trust, retirement plan, insurance policy or a gift of real estate, you will play a vital part in its future. If you have already included PacRep in a bequest or other planned gift, we hope you will let us know so that we might personally thank you and give you proper recognition. Your willingness to be listed as a member of the Encore Circle encourages others to follow your example.
For further information about ways to support PacRep through a planned gift, please click any of the topics below, or contact Development Director John Newkirk by phone at 831-622-0700 ext. 4108, or by email at johnnewkirk@pacrep.org.
Types of Planned Giving:
By including PacRep as a beneficiary in your bequest, trust, retirement plan, insurance policy or a gift of real estate, you will play a vital part in its future. If you have already included PacRep in a bequest or other planned gift, we hope you will let us know so that we might personally thank you and give you proper recognition. Your willingness to be listed as a member of the Encore Circle encourages others to follow your example.
For further information about ways to support PacRep through a planned gift, please click any of the topics below, or contact Development Director John Newkirk by phone at 831-622-0700 ext. 4108, or by email at johnnewkirk@pacrep.org.
Types of Planned Giving:
- Encore Circle Benefits
- Bequests
- Life Insurance
- Retirement Assets
- Charitable Remainder Trust (Life Income Agreement)
- Retained Life Estate
- Pacific Repertory Theatre Endowment Fund
- Charitable Gift Annuity
ENCORE CIRCLE BENEFITS
Besides our appreciation for your generous philanthropic leadership and vision, Encore Circle members receive numerous benefits.
- Recognition in PacRep's printed programs
- Invitation to exclusive Encore Circle events
- Invitation to other PacRep special events
- Opening night dinner and show invitations
- Encore Circle newsletter
- A tax deduction, when applicable
BEQUESTS
The Most Popular Gift
A bequest is the most popular and easiest method of planned giving. A bequest in your will allows you to pass your gift to PacRep, free of estate taxes.
You can give stocks or bonds, mutual funds, real estate, cash or any other asset of value. A bequest is particularly appropriate when someone wants to support PacRep but is unsure if he or she will have a need of that financial resource during his or her own lifetime.
The proper beneficiary wording for your bequest is
Pacific Repertory Theatre, Carmel, California.
Since a bequest is revocable, meaning you can change your mind, no tax deduction is allowed by law.
When Should a Bequest be Considered?
If you are unsure you will have a need for all of your financial resources during your lifetime then a bequest is a good way to proceed.
A bequest only comes into being if you die with remaining assets.
A bequest only comes into being if you die with remaining assets.
How a Bequest Works
You simply name PaRep in your will or living trust.
A bequest can be as flexible and creative as you wish.
Your may designate a percentage of your estate or a specific dollar amount.
You may designate a portion of your estate after you have made other gifts.
A bequest can be as flexible and creative as you wish.
Your may designate a percentage of your estate or a specific dollar amount.
You may designate a portion of your estate after you have made other gifts.
What Are The Benefits
Does not reduce your current income or jeopardize your ability to sustain yourself financially.
You may reduce your estate taxes (depending on the size of your estate)
Enables you to provide future support to a cause that is important to you
It is revocable
Membership in the Encore Circle
You may reduce your estate taxes (depending on the size of your estate)
Enables you to provide future support to a cause that is important to you
It is revocable
Membership in the Encore Circle
NOTE
To make certain your bequest accomplishes your wishes, we recommend that you obtain professional counsel of an attorney who specializes in probate and estate planning.
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LIFE INSURANCE GIFTS
...a versatile tool for many purposes
People usually purchase life insurance as a way to protect their families, but life insurance needs change a life progresses.
When should a Life Insurance Gift be considered?
Perhaps you don't need as much coverage today as you did when you first obtained the policy, yet you still have the policy.
After you stop working or your family is grown, the need for the existing policy often disappears.
Many insurance policies grow to considerable value and either have very low premiums, or are self funding.
After you stop working or your family is grown, the need for the existing policy often disappears.
Many insurance policies grow to considerable value and either have very low premiums, or are self funding.
How A Gift of Life Insurance Works
You simply transfer ownership of an existing policy to Pacific Repertory Theatre and name PacRep as the new owner and beneficiary of the policy.
Easy to set up! Contact your life insurance agent or company and request a change of beneficiary and/or ownership form.
Purchase a new policy and name PacRep as the owner and beneficiary.
Easy to set up! Contact your life insurance agent or company and request a change of beneficiary and/or ownership form.
Purchase a new policy and name PacRep as the owner and beneficiary.
What Are The Benefits?
The gift does not reduce your current income or jeopardize your ability to sustain yourself financially
The gift is revocable, which means you can change your mind at any time unless ownership is assigned to PacRep
If the policy is assigned to PacRep, you will receive a charitable tax deduction for the present value of the policy.
If premium payments are due on the policy, such payments by you are deductible if you have assigned ownership of the policy to PacRep.
You may reduce your estate taxes (depending on the size and structure of your estate).
Enables you to provide substantial future support to a cause that is important to you.
Membership in the Encore Circle
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RETIREMENT ASSETS
...The Most Tax Efficient
This is one of the easiest planned gifts you can make, and potentially the least costly to your heirs. Simply name Pacific Repertory Theatre as the beneficiary, or the contingent beneficiary after your spouse, of your IRA, 401(k), 403(b), Keogh, or other retirement plan assets. You continue to control these investments and take the minimum distributions as required by law, plus any other distributions that you may need.
When Should a Retirement Asset Gift be Considered?
Particularly attractive to those who will likely be subject to estate taxes.
How a gift of Retirement Assets Works
Retirement assets left to PacRep avoid the double taxation of both income and estate taxes (this can be up to 70% in taxes)
Easy to set up by requesting a change of beneficiary form from your IRA administrator.
Easy to set up by requesting a change of beneficiary form from your IRA administrator.
What Are The Benefits?
The gift does not reduce your current income or jeopardize your ability to sustain yourself finacially.
You may reduce your estate taxes and future income taxes (depending upon the size of your estate).
The gift is revocable, which means you can change your mind at any time
Enables you to provide substantial future support to a cause that is important to you
Membership in PacRep's Encore Circle
You may reduce your estate taxes and future income taxes (depending upon the size of your estate).
The gift is revocable, which means you can change your mind at any time
Enables you to provide substantial future support to a cause that is important to you
Membership in PacRep's Encore Circle
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CHARITABLE REMAINDER TRUST
(LIFE INCOME AGREEMENT)
...Income for Life
A Charitable Remainder Trust (CRT) is an arrangement in which property or money is donated to PacRep (through the trust) and an income stream is received by you, the donor, for the remainder of your life and/or the lives of additional specified beneficiaries.
When Should A CRT be Considered?
If you own a valuable asset which has grown substantially in value, a CRT is an excellent way to avoid capital gains tax on the asset. Quite often such asset does not generate much income that you could use to support yourself and family. A CRT would provide you with a steady stream of income.
If you have dependents whom you want to provide but they are not capable of managing an inheritance.
If you have dependents whom you want to provide but they are not capable of managing an inheritance.
How Does a Charitable Remainder Trust Work?
You establish a Charitable Remainder Trust with the assistance of a knowledgeable and qualified planned giving estate attorney.
You may choose to manage the CRT yourself or have a financial manager of banking institution do it for you, at a nominal fee.
You name the heirs at the time of the creation of the trust and name PacRep as the remainder beneficiary.
You place the asset into the trust and, if necessary, the trust sells the asset, not you, the donor.
You receive either a set return annually (Charitable Remainder Annuity Trust) or a percentage of the trust, assessed on an annual basis (Charitable Remainder UniTrust).
You may choose to manage the CRT yourself or have a financial manager of banking institution do it for you, at a nominal fee.
You name the heirs at the time of the creation of the trust and name PacRep as the remainder beneficiary.
You place the asset into the trust and, if necessary, the trust sells the asset, not you, the donor.
You receive either a set return annually (Charitable Remainder Annuity Trust) or a percentage of the trust, assessed on an annual basis (Charitable Remainder UniTrust).
What Are The Benefits?
You receive income for life (or the life of your designated beneficiary)
You receive an immediate charitable tax deduction when the gift is finalized since the gift is irrevocable, meaning you can't change your mind. However, you do have the capability of changing the charity who will receive such benefits.
If you make your gift with appreciated assets, you may avoid capital gains taxes.
If you make your gift with low-yielding or unproductive assets, you may actually increase your current income.
You may reduce estate taxes (depending upon the size of your estate).
Enables you to provide substantial future support to a cause that is important to you.
Membership in PacRep's Encore Circle.
You receive an immediate charitable tax deduction when the gift is finalized since the gift is irrevocable, meaning you can't change your mind. However, you do have the capability of changing the charity who will receive such benefits.
If you make your gift with appreciated assets, you may avoid capital gains taxes.
If you make your gift with low-yielding or unproductive assets, you may actually increase your current income.
You may reduce estate taxes (depending upon the size of your estate).
Enables you to provide substantial future support to a cause that is important to you.
Membership in PacRep's Encore Circle.
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RETAINED LIFE ESTATE
...Give your home
... Continue to live there
You, your spouse, or other designee can continue to live in your home until the survivor dies. Nothing changes except that Pacific Repertory Theatre ultimately will be able to sell the property and use the income to continue its mission, or use the property for Equity actor housing needs.
When Should Making a Gift of a Retained Life Estate be Considered?
If you have no heirs
If your children have adequate assets of their own and such property might be a tax burden for them
If you need a tax deduction
If your children have adequate assets of their own and such property might be a tax burden for them
If you need a tax deduction
How a Gift of a Retained Life Estate Works
You make a gift of real estate, or your home, and PacRep's name is added to the deed
You continue to live in your home or make use of the property
You maintain the property and pay the property taxes (because the gift is being made to a qualified charity, the property taxes will not increase although there is a change in ownership status)
You continue to live in your home or make use of the property
You maintain the property and pay the property taxes (because the gift is being made to a qualified charity, the property taxes will not increase although there is a change in ownership status)
What Are The Benefits?
You retain use of the property for as long as you and/or your designee live
You receive an immediate tax deduction when the gift is made
Property doesn't pass through probate
You may reduce your estate taxes (depending on the size of your estate)
You receive an immediate tax deduction when the gift is made
Property doesn't pass through probate
You may reduce your estate taxes (depending on the size of your estate)
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Pacific Repertory Theatre's Endowment
PacRep has an established endowment with the Community Foundation for Monterey County. Gifts to the Endowment are held in perpetuity by the Foundation and the return on the investment is used by PacRep for its general operating support, unless such gifts have been restricted for a specific purpose by the donor. Gifts of any amount are welcomed. Traditionally, however, most gifts to the Endowment have been made through a donor's estate in the form of a planned gift although current gifts of stock, real estate, or cash are acepted as well.
You may create your own special named fund in memory or honor or someone or in support of a specific program, with a minimum gift of $10,000. If your gift is in the form of a Charitable Remainder Trust, Life Insurance, or a gift of Real Estate, all of which are irrevocable, and is designated as an Endowment gift, the fund will be created at the time of the gift.
How a Gift to the Endowment Works
When making a gift, you decide to make it permanent.
PacRep places such gift in to its established fund with the Community Foundation for Monterey County
The return on the investment is used by PacRep to further its mission
PacRep places such gift in to its established fund with the Community Foundation for Monterey County
The return on the investment is used by PacRep to further its mission
What are the Benefits to You, the Donor?
A Lasting Legacy
Ability to honor or remember someone
Ability to support a specific on-going project of PacRep
You receive an immediate tax deduction when the gift is made
You may reduce your estate taxes (depending on the size of your estate)
Enables you to provide substantial future support to a cause that is important to you
Ability to honor or remember someone
Ability to support a specific on-going project of PacRep
You receive an immediate tax deduction when the gift is made
You may reduce your estate taxes (depending on the size of your estate)
Enables you to provide substantial future support to a cause that is important to you
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