Create A Legacy
Generosity comes in many forms, and it’s often the best way to support important causes that matter the most to you. Your gift enables us to pursue excellence on the mainstage and to expand our Conservatory and outreach programming.
There are many ways to make a planned gift to the North Carolina Theatre and provide tax benefits to your estate and/or heirs. Below are a few gift examples to discuss with your financial advisor.
Cast of A Chorus Line, 2014. Curtis Brown Photography.
NCT’s Official Name, Address, and Tax ID
North Carolina Theatre
1 East South Street
Raleigh, NC, 27601
Tax ID #: 56-1072874
A gift through your will or revocable trust is a simple and meaningful way of remembering NCT and its Conservatory that may be directed where most needed by the Board of Trustees. A sample clause to share with your attorney is:
I give to North Carolina Theatre, a North Carolina not-for-profit organization whose address is 1 East South Street, Raleigh, NC 27601, Tax ID #56-1072874, (the sum of $_________) or (___ % of the residue of my estate) for its general purposes.
The charitable IRA rollover, or qualified charitable distribution (QCD), is a special provision allowing certain donors to exclude from taxable income – and count toward their required minimum distribution – certain transfers of Individual Retirement Account (IRA) assets that are made directly to public charities, including North Carolina Theatre. Donors can use this popular option to support the theatre with tax-wise gifts ranging from $100 to $100,000.
Qualifying charitable distributions must be:
- Made by a donor aged 70 ½ or older
- Transferred from a traditional IRA or Roth IRA directly
- Completed by December 31 of the corresponding tax year
A charitable gift annuity or charitable remainder trust enables you to contribute to North Carolina Theatre in exchange for payments each year for a specified term or life. This payment can be made to you or others you choose. Your gift is invested for the specified term or life, and the remaining assets are transferred to North Carolina Theatre for use as you have directed. These gifts can also provide you with significant income, capital gains, and estate tax savings.
If you give stocks you have owned for more than one year that are worth more than when you purchased them, you will qualify for significant tax advantages.
The designation of North Carolina Theatre as a beneficiary of retirement plan benefits may be a savvy tax-wise gift strategy. Our charitable tax status exempts retirement benefits from estate and income taxes that your heirs could incur if you were to give retirement plan assets to them.
Life Insurance you no longer need for your family security may be donated to NCT by transferring ownership of the policy or naming the theatre as a beneficiary. Your estate may be entitled to a charitable deduction for the proceeds passing to North Carolina Theatre and the North Carolina Theatre Conservatory.
For more information on legacy giving, please contact ewall@nctheatre.com