We invite donors who have an interest in the future of Manassas Ballet Theatre to include MBT in their wills, insurance, charitable remainder or charitable lead gifts. The generosity of these donors will help enable Manassas Ballet Theatre to maintain its growth and stability, enriching the lives of future generations in our community.
Wills & Bequests
Example
Sue grew up attending The Nutcracker and then began taking her daughter when she was young. Now, Sue, her daughter and her granddaughter have a tradition of attending MBT’s The Nutcracker every year. In honor of this tradition, Sue provided in her will that one third of her cash estate be given to MBT, helping to ensure the future of Manassas Ballet Theatre and The Nutcracker.
Benefits to You
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You have control of your assets during your lifetime.
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You can make modifications to your bequest.
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No upper limit on estate tax deductions for your charitable bequest.
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Plan now for the future and name MBT in your will or revocable trust.
Life Insurance
Example
John owns a life insurance policy he no longer needs. If he transfers ownership to MBT, he can deduct the cash value of the policy now as well as leave a generous gift to Manassas Ballet Theatre in the future.
Benefits to You
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You receive the immediate income tax deduction for the cash value of the policy.
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You are able to make a generous gift to MBT without affecting your cash flow.
Charitable Remainder Annuity Trust
Example
Jane and John have stock worth $75,000 for which they originally paid $35,000. They can support Manassas Ballet Theatre by donating this stock to a charitable remainder trust. They defer the tax on the $40,000 capital gain and receive an income tax deduction this year for a portion or the trust. They also receive monthly payments from the trust until their time of their death. The balance of the trust is donated to MBT.
Benefits to You
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You receive an immediate income tax deduction for a portion of your contribution to the trust.
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You or your designated beneficiaries receive a predictable, stable income for life or specified term.
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You defer payment of the capital gain tax on appreciated assets you donate.
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You receive the benefits of the donation now and MBT benefits from it in the future.
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You transfer assets to a trust that makes fixed payments to you or a beneficiary. When the trust ends, the principal is donated to Manassas Ballet Theatre.
Charitable Lead Trust
Example
Mike establishes a lead trust, valued at $500,000, to benefit Manassas Ballet Theatre. The trust will pay MBT an annual income of 5% of the trust’s value for 15 years, starting with an initial payment of $25,000. Mike may receive an income tax deduction for present value of the payments. After the 15 years, the remainder of the trust passes to Mike’s family. The trust’s appreciation goes tax-free to his family.
Benefits to You
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You receive a gift tax deduction for the present value of the annuity payments to MBT.
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The transfer taxes due when the principal is paid to your heirs can be reduced or eliminated based on the structure of the annuity payments and the term of the trust.
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Your heirs receive the appreciation on the trust tax free.
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Your lifetime available estate tax exemption (currently $3.5 million per person) can be applied to reduce taxes on transfers to your heirs.
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You are able to make a generous donation to MBT now while reducing the taxes on transfers to your heirs later.
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You transfer assets to a trust that makes fixed payments to Manassas Ballet Theatre for a specified term. When the trust ends, the principal goes to your heirs.
IRA or 401(k)
Example
Jane is employed with a company that offers a 401 (k). She is thinking about ways to support MBT in the future and learned she can name Manassas Ballet Theatre as a beneficiary of her 401(k). After she retires, she will continue to make withdrawals, but will be able to leave the remainder to the MBT upon her passing.
Benefits to You
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You can avoid income and estate taxes on residual left in your account.
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You can continue to make withdrawals during your lifetime.
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You can change beneficiaries throughout your lifetime.
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You can name MBT as a beneficiary of your IRA or 401(k).