Ways of Giving
There are many ways to give to the Oregon Symphony. We welcome the opportunity to help you develop a gift arrangement that meets your goals.
How to give:
- Outright Gifts: cash, stock, bonds, real estate or other property (usually associated with an immediate tax benefit).
- Bequests: gifts by will or living trust may be for a specific dollar amount, a percentage of the total estate, or the remainder of the estate after other commitments have been paid.
Sample Will Language
Suggested language used to create a bequest is as follows:
…“I give, devise, and bequeath to the Oregon Symphony Foundation, a corporation existing under the laws of the State of Oregon, the following described property (or amount):”
Suggested language to make a residual bequest of assets remaining after all specific bequests have been satisfied:
…“the rest, residue and remainder of my estate to the Oregon Symphony Foundation.”
…“__% (or fractional interest) of the rest, remainder, and residue of my estate...”
Suggested language for a contingent bequest to take effect only if those named as primary beneficiaries predecease you:
…“If any or all of the above named beneficiaries do not survive me, I give the share that otherwise would be his/hers to the Oregon Symphony Foundation.”
- Retirement Plans: One of the simplest ways to provide for the Oregon Symphony is to name the Oregon Symphony Foundation as a beneficiary of your retirement plan (IRAs or other pension plans). By naming the Oregon Symphony as the beneficiary of a retirement plan that could be highly-taxed, you can preserve other assets in your estate that carry lower tax liabilities for your heirs.
- Life Insurance: The best way to give life insurance is to purchase a new policy naming the Oregon Symphony as owner and beneficiary. The premiums that you pay on the policy are tax deductible. You may also designate the Oregon Symphony as the owner and beneficiary of an existing policy and receive a tax deduction for either the replacement value or cash surrender value of the policy, as well as for any premiums that you continue to pay. You may also name the Oregon Symphony as the beneficiary of your policy without giving up ownership.
- Home (Retained Life Estate): give your primary residence, farm or vacation home, but continue to use them during your lifetime. By giving the property now, you can claim a tax deduction for part of the property’s value (based on your age and the value of the property) and continue to live in or use it just as before, and continue to be responsible for property taxes and maintenance. After your lifetime, the property comes directly to the Oregon Symphony, avoiding probate.
- Life Income Gifts: Deferred gifts provide an income stream to you for the term of the gift, an immediate tax deduction in the year of the gift, and other beneficial tax consequences. The Oregon Symphony receives the remainder of the gift at the end of the gift’s term. These gifts can take the form of a Charitable Gift Annuity, a Charitable Remainder Trust, or a Charitable Lead Trust.
Please contact the Oregon Symphony Development office at 503-228-4294 to discuss opportunities for planned giving or e-mail Foundation@orsymphony.org.