IRA Charitable Rollover

Any person age 701/2 or older who owns a traditional or Roth IRA can benefit by making an IRA-related contribution to SBDAC can benefit from using the IRA Charitable Rollover to make a gift, large or small. You can transfer up to $100,000 per person, per calendar year. The current law has no expiration date.

How do I make an IRA Charitable Rollover gift to SBDAC?
It’s easy! Just contact your financial advisor, bank or brokerage firm and notify them of your desire to make an IRA Charitable Rollover gift to Florida Arts Inc. 2301 First Street, Fort Myers, FL. 33901. Our Tax ID number is 31-1536036.

Can I still make a gift to SBDAC with an IRA beneficiary designation?
Yes! To make a gift to SBDAC, you may designate Florida Arts Inc. as a beneficiary to receive all or part of your IRA assets after your lifetime. Naming Florida Arts Inc. as a beneficiary of an IRA can be a tax-wise decision.

Can I designate where my gift to SBDAC will be used?
Absolutely, you may designate your gift to the program or service of your choice. Please contact Jim Griffith at 239-333-1933 or jim@sbdac.com for more information about making a gift of your IRA to SBDAC.

A carefully prepared Will or Revocable Living Trust is the best way to ensure that your loved ones are provided for after your death and your favorite charities are supported as you intend. They allow you to retain full use of your assets during your lifetime and still make a significant gift to the Art Center.

Types of Bequests

1. Specific Bequests
The most popular type of charitable bequest, provides that SBDAC receives a specific dollar amount or percentage of your estate.
2. Residuary Bequest
A residuary bequest provides that SBDAC receives all or a stated portion of your estate, after all other bequests, taxes, expenses, and debts have been paid.
3. Contingent Bequest
A Contingent Bequest can ensure that if circumstances make it impossible to carry out your primary provisions, your assets will then pass to SBDAC rather than unintended beneficiaries. When designating a bequest to SBDAC through your Will or Revocable Living Trust, please use the following language:

“I give, devise and bequeath (sum of/percentage of/ residue of my estate) to Florida Arts, Inc.
(d.b.a. Sidney & Berne Davis Art Center), 2301 First Street Fort Myers, FL. 33901.” 

 

You can make a substantial gift to SBDAC while still earning income from the donated assets. These income for-life plans are some of the most flexible and fruitful options available to donors. They allow you to provide income for yourself, your loved ones; avoid significant capital gains and estate taxes; and satisfy your wish to make a gift to SBDAC.

SBDAC Gift of Annuity

One of the most common and popular ways to make a gift to SBDAC is a Gift Annuity. It is a simple contract between you and SBDAC. In exchange for an irrevocable gift, you and/or a loved one will receieve a fixed dollar amount each year for life. The rate your receive is based on life expectancy; the older you are at the time of the gift, the greater the amount can be.
Benefits of Charitable Gift Annuities:
• Fixed payout offers security of guaranteed income
• Attractive rate of return, up to 9% based on your age(s)

You can make a gift to SBDAC through a Charitable Trust. Here’s how it works: you fund a trust with an irrevocable gift to SBDAC. The trustee invests the gift and you or your designee receives income for as long as you choose: for a definite term or not more than 20 years, or the rest of your life. At the end of that time, the remaining principal benefits SBDAC.

You may establish a charitable trust using assets such as real estate, securities, or cash. Funding it with appreciated long-term property enables you to protect your profit or reinvest for a higher yield, while avoiding capital gains taxes. You thereby maximize the value and benefit or the property, both as income and as a gift.
Features and benefits of Charitable Trusts:
• Estate and probate savings
• Avoid capital gains taxes
• Opportunity to make a substantial gift, while receiving life income

SBDAC offers individuals numerous ways to provide memorials and testimonials to family, friends, organizations, or other individuals. Your memorial or commemorative gift can embody the donor’s ideals, provide essential support to SBDAC, and honor the life or lives of individuals who have made a difference in your life or the life of the SBDAC community.

If you wish to include a gift to SBDAC in your Will, Revocable Living Trust, or other planned gift arrangement, we encourage you to let us know about your decision so that we may assist you in any way possible. We welcome the opportunity to recognize your generosity and show our appreciation to you by saying thank you.