Types of Legacy Gifts
What: A gift made through a will or a living trust. It is usually a set dollar amount or percentage of an estate that goes to a nonprofit.
Why: Bequests are one of the easiest planned gifts to make and costs nothing during a donor’s lifetime.
How: A bequest can be included in a new will, or added to an existing will or living trust through a simple amendment called a codicil — often without the expense of hiring a lawyer.
What: A donor can name a nonprofit as the beneficiary a portion or all of their IRA, 401(k), or other Retirement Plans.
Why: When the donor’s estate is settled, the amount designated passes to the nonprofit and the donor’s heirs avoid associated income and estate taxes.
How: Beneficiary designations can be done via the employer or plan administrator.
Life Insurance Policy
What: A donor can designate a nonprofit as a Life Insurance policy beneficiary, allowing the donor to provide a large gift to a nonprofit — often more than they are able to donate outright. The donor will have the flexibility to change the beneficiary designation if circumstances change.
Why: The donor’s heirs may benefit with lower estate tax.
How: Beneficiary designations can be made through the donor’s insurance provider.
Legacy Donor Benefits
- Annual thank you gathering with staff and artists
- Advance notice when reservations open
- Opportunity to enter lottery to purchase flex passes
- Recognition in programs and print newsletters
- Legal Name: Ten Thousand Things Theater
- Address: 1430 Concordia Ave, #40216, St Paul, MN 55104
- Tax ID number: 95-4300792
- Contact: Amy Tang, 612-203-9502