Encore is a 501(c)(3) non-profit organization that has brought joy to many in the Baltimore-Washington area and across the nation.
With your help, we can:
- Strengthen our existing programs and maintain low fees
- Fund the staff and professional conductors needed to sustain programs
- Continue to provide program scholarships
- Provide FREE community concerts at the conclusion of each season in high visibility and quality venues
You TAX-DEDUCTIBLE donation, regardless of amount, will make a difference. There are many ways to make a donation to Encore - direct cash/credit, IRA Charitable Rollover, Stock, and more. Please review the information below to determine the method for you.
Thank you for helping bring professionally directed arts programs to our older adults. The Encore Federal EIN number is 30-0420278.
Please consider the following levels of support. Note that gifts are cumulative annually for each level of support.
|Presenting Sponsor $10,000+|
|Platinum Sponsor $5,000|
|Gold Sponsor $2,500|
|Silver Sponsor $1,000|
|Bronze Sponsor $500|
|Supporter $100 +|
|Friend up to $100|
You may contribute securely online by clicking on the red button above or send your check to:
Encore Creativity for Older Adults
5419 Deale Churchton Road #102
Churchton, MD 20733
Great News for Donors – The IRA Charitable Rollover Is Now Permanent
What are the benefits available to you?
Congress reinstated a law that allows you to make a tax-free gift from your individual retirement account (IRA). Known as the IRA charitable rollover, this law no longer has an expiration date so you are free to make annual gifts to Encore Creativity for Older Adults from your IRA this year and well into the future.
The recently reinstated law allows individuals 70½ and older the ability to transfer up to $100,000 from their individual retirement accounts directly to a qualified charitable organization without being subject to income taxes on the distribution.
Here is what you need to know:
· You must be age 70½ or older at the time of the gift.
· You can transfer up to $100,000 directly from your IRA. This opportunity applies only to IRAs and not to other types of retirement plans.
· Your gift can be used to satisfy your minimum required distribution under the law.
· You can transfer the funds outright to one or more qualified charities. The legislation does not permit direct transfers to charitable trusts, donor advised funds, charitable gift annuities or
1. If you have already named Encore Creativity for Older Adults as the beneficiary of your IRA, there are still benefits to you if you choose to make all or part of your gift now instead of after your lifetime.
By making a gift this year of up to $100,000 from your IRA, you can see the immediate benefits of your philanthropic gift and you’ll be able to witness the start of your legacy gift to Encore. You can also make a multi-year pledge to Encore and fulfill the payments of that pledge in yearly installments by transferring that amount from your IRA under this legislation, as long as it is $100,000 or less for the year. In this way, Encore can plan for our future programs knowing that they will be supporting with your future support.
2. You must be age 70½ or older in order to make your gift.
The legislation requires you to reach age 70½ by the date you make the gift.
3. If you have several retirement accounts, some pensions and some IRAs, it is important to know which accounts can take advantage of the IRA Charitable Roll-Over Law.
Direct rollovers to a qualified charity can only be made from an IRA. Under certain circumstances, however, you may be able to roll assets from a pension, profit sharing, 401(k) or 403(b) plan into an IRA and then make the transfer from the IRA directly to Encore. To determine if a rollover to an IRA is available for your plan, speak with your plan administrator.
4. Your gift can be used as your minimum required distribution under the law.
This is great news for many donors. If you have not yet taken your required minimum distribution, the IRA charitable rollover gift can satisfy all or part of that requirement. Contact your IRA custodian to complete the gift.
5. You do not need to give your entire IRA to be eligible for the tax benefits?
You can give any amount under this provision, as long as it is $100,000 or less this year. If your IRA is valued at more than $100,000, you can transfer a portion of it to fund a charitable gift.
6. You can support more than one charitable institution as long as your combined gift is $100,000 or less.
Under the law, you can give a maximum of $100,000. For example, you can give two organizations $50,000 this year or any other combination that totals $100,000 or less. Any amount of more than $100,000 in one year must be reported as taxable income.
7. You and your spouse can each give up to $100,000 as long as you are both 70½ or older.
If you have a spouse (as defined by the IRS) who is 70½ or older and has an IRA, he or she can also give up to $100,000 from his or her IRA.
It is wise to consult with your tax professionals if you are contemplating a charitable gift under the extended law.
The Easiest Way to Make an Impact through Charitable Giving to Encore
A Gift in Your Will or Living Trust
Ready to start planning today? Are interested in supporting Encore’s mission but are currently unable to give at the level you would like? A simple and flexible way to ensure that you can support Encore through a gift in your will or living trust is known as a charitable bequest. By including a bequest to Encore in your will or living trust, you are ensuring that we can continue our mission for years to come. Your gift also entitles your estate to an unlimited federal estate tax charitable deduction.
You create a bequest by including a gift for Encore Creativity for Older Adults in your will or revocable trust. Encore may be your only beneficiary or one of many. After you create your bequest, you continue to have full lifetime control of your assets and can adjust your gift at any time during your life. You are free to change the amount of your gift, how you wish it to be used, or any other detail of your bequest, should you decide to do so.
No estate taxes apply to your charitable bequest.
Choose a bequest that fits your goals
Your attorney can help you consider what type of bequest fits your overall estate plan, family commitments, and charitable goals. Here are some common types of bequests.
- Specific bequest: Create a gift of a specific dollar amount or specific asset.•
- Percentage bequest: Create a gift of all or a percentage of the remainder of the estate after all specific bequests and expenses related to the estate have been paid. A percentage bequest is sometimes called a residuary bequest.
- Contingent bequest: Make a gift to Encore only in the event of the death of other named beneficiaries.
Sample bequest language
It is important that your will or trust document say that you are making your bequest to “Encore Creativity for Older Adults, Churchton, Maryland.” Below are samples of bequest language that may prove useful to you. These are examples only, and should be used with the advice and assistance of your attorney.
Specific bequest: "I give, devise and bequeath to Encore Creativity for Older Adults, Tracys Landing, Maryland, the sum of $______ (or description of the specific asset) for the benefit of Encore Creativity for Older Adults and its general purposes."
Percentage of estate clause: "I leave ___percent (___%) of my estate to Encore Creativity for Older Adults, Tracys Landing, Maryland, for the benefit of Encore Creativity for Older Adults and its general purposes."
Contingency provision clause: "In the event my (spouse, daughter, son, friend - full name) shall predecease me, I leave their share to Encore Creativity for Older Adults, Tracys Landing, Maryland, for the benefit of Encore Creativity for Older Adults and its general purposes."
How to Fund Your Charitable Bequest
Gifts of Cash
One of the easiest and most common ways for you to support Encore is with a gift of cash.
Cash can be used to support our mission through:
· An outright gift. By making a cash gift by check, credit card or money order today, you enable us to meet our most urgent needs and carry out our mission on a daily basis. You will have the opportunity to see your generosity in action and will also receive an immediate federal income tax charitable deduction, when you itemize.
· A payable on death (POD) account. A POD bank account or certificate of deposit names one or more persons or charities as the beneficiary of all funds once you, the account owner, pass away. The beneficiary you name has no rights to the funds until after your lifetime. Until that time, you remain in control and are free to use the money in the bank account, change the beneficiary or close the account.
· A gift in your will or living trust.Through a gift in your will or living trust, you can support Encore with a specific amount of money or a percentage of your total estate. This type of gift allows you the flexibility to change your mind at any time and your estate will benefit from a federal estate tax charitable deduction for the amount of the gift.
· Gifts in Memory or Honor of others. If you have a family member or friend whose life has been enhanced by Encore, consider making a gift to us in his or her name.
· An endowed gift.A gift of $50,000 can be used to create a named endowment and will ensure that your gift to Encore will last in perpetuity to support our mission.
A Gift through Appreciated Securities
· Securities and mutual funds that have increased in value and been held for more than one year are one of the most popular assets to use when making a charitable gift. Making a gift of securities or mutual funds to us offers you the chance to support Encore while realizing potential tax benefits for you.
· When you donate appreciated securities or mutual funds you can reduce or even eliminate federal capital gains taxes on the transfer. You are also entitled to a federal income tax charitable deduction based on the fair market value of the securities at the time of the transfer.
Securities can be used to support our mission in the form of:
· An outright gift. When you donate securities to Encore, you receive the same income tax savings that you would if you wrote us a check, but with the added benefit of eliminating capital gains taxes on the transfer. Making a gift of securities to support our mission is easy. Simply instruct your broker to transfer the shares to Encore or, if you have the physical securities, hand-delivering or mailing the certificates along with a stock power to us in separate envelopes. (Using separate envelopes safeguards your gift—the certificates will not be negotiable without the stock power.)
· A transfer on death (TOD) account. By placing a TOD designation on your brokerage or investment account, that account will be paid over to one or more persons or charities after your lifetime. It is not necessary for the TOD designation to transfer all of the account solely to charity—you can designate a certain percentage of the account. With a TOD account, the beneficiary you name has no rights to the funds until after your lifetime. Until that time, you are free to use the money in the brokerage account, to change the beneficiary or to close the account.
· A gift in your will or living trust. If you aren't ready to give up these assets during your lifetime, a gift of securities through your will or living trust allows you the flexibility to change your mind at any time. You can continue to receive dividends and participate in shareholder votes, and the securities are still yours if you need them for other expenses. Through a very simple addition to your will or living trust, you can ensure that Encore can continue its important mission and your estate will benefit from a charitable estate tax deduction.
Stock donation procedure:
Donor notifies broker/financial manager to send stock to Encore’s Merrill Lynch account:
Encore Creativity #5198 Corporation
Also provide Encore’s Employer Identification Number 30-0420278.
A Gift of Real Estate
If you are interested in making a substantial gift to Encore without touching the cash in your bank account, consider making a gift of Real Estate to Encore. When you make a gift of appreciated property that you have held longer than one year, you not only receive a federal income tax charitable deduction, but you also avoid paying capital gains tax. You will not have to deal with selling the real estate or any of the continuing expenses of owning the property. You can deed the property directly to Encore or ask your attorney to add the details of a bequest of property to your will or trust agreement.
Are you committed to supporting Encore after your lifetime to ensure that our program can continue to have a meaningful impact on current and future singers? It's not only possible, it's easy to do with a beneficiary designation. Simply name Encore as a beneficiary to receive assets such as retirement plans and life insurance policies. You can fill out a form that is separate from your will, which make this form of giving easy. Because Encore is a nonprofit organization, if you name Encore as the beneficiary of your retirement plan assets, your gift is tax-exempt and Encore is eligible to receive the full amount, bypassing federal taxes.
A gift of life insurance also has benefits. If you name Encore as the beneficiary of an existing policy, you may receive a federal income tax charitable deduction and reduce your future estate tax liability. For a new policy, with Encore named as the owner and beneficiary, your premium payments may be deductible as charitable gifts.
Not only is making a beneficiary designation an easy way to give, but it's also flexible—you aren't locked into the choices you make today. You can review and adjust beneficiary designations anytime you want.
2.Talk to your financial or legal advisor to learn which assets will or will not trigger taxable income when paid to a beneficiary.
3. If you name Encore Creativity for Older Adults in your plans, please use our legal name and Federal Tax ID.
Legal Name: Encore Creativity Corporation
Address: 5419 Deale Churchton Road #102, Churchton, MD 20733
Federal Tax ID Number: 30-0420278
Knowing of your plans helps Encore to plan and also allows us to thank you for your current and future support. While not required, we would love to hear from you. Many thanks for considering a planned gift to Encore Creativity for Older Adults.
The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor.