Planned Giving

A bequest is a gift by will of personal or real property — a legacy. A will is a legal document by which a person makes a disposition of his or her property to take effect after his or her death, and which by its own nature is ambulatory and revocable during his lifetime. You may name  Community Players in your will to receive a charitable bequest.

You can make an unrestricted gift, or you can restrict the use of your gift to a purpose that you designate.

An unrestricted charitable bequest provides funds that CP can use for general purposes. This type of bequest can be of greatest use to the theatre because it allows CP to determine the areas of greatest need.

Your gift could also be restricted to specific uses that you designate. A restricted charitable bequest permits CP to use your gift only in a specified manner, for example, for a certain program. It is wise to have any such restriction as broadly defined as possible, which insures that the ability to use the gift as designated will not be frustrated because of changing circumstances. It is best to work with CP prior to making a bequest limited to a specific use, so that there is assurance that CP will be able to comply with the restriction.

Life insurance gifts are simple; just ask the insurance company for the appropriate forms to make Community Players the owner or beneficiary of a policy. Gifts of a policy are tax deductible, as are future premium payments. A gift of life insurance is certain. The full proceeds are payable to ensure your charitable dreams are fulfilled. Life insurance is paid promptly; it is not tied up in the administration of the estate. Unlike a will, life insurance is not a matter of public record. Your gift to Community Players can pass in privacy, if you desire.

Life insurance can be used to make a significant gift to Community Players with exceptional tax advantages.

•  A Gift of an “Unneeded” Policy — Suppose your family is grown and no longer needs a policy purchased many years ago. You could make Community Players the owner and beneficiary of that insurance policy and take a tax deduction for the value of the policy at the time of the gift. Let’s assume further that you have a $50,000 policy on which you are still paying, and the cash surrender value of your policy is $20,000 and the premiums cost $500 annually. If you contribute the policy to Community Players and continue paying the premiums, you will be entitled to an income tax charitable deduction of about $20,000, reducing your taxes by $6,200 if you are in a 31% tax bracket. In addition, each year you will be entitled to another $500 deduction for the annual premiums you pay, saving $155 in income taxes. At your death, the full $50,000 proceeds will be used by Community Players to further our mission. You may prefer for Community Players to continue making the premium payments, or to sell the policy and use the proceeds immediately so that you can see your charitable dreams comes true.
• “Wealth Replacement” Plans — Donors who employ various types of charitable trusts can purchase life insurance payable to family members, funded partly by tax savings from their charitable deductions. The life insurance replaces the assets that are received by the charity, and if you employ a so-called irrevocable life insurance trust, your family can receive the insurance proceeds free of gift or estate tax.
• Revocable Beneficiary Designation — You can keep lifetime ownership rights in a policy (the right to borrow against or cash in a life insurance policy, for example) and still name Community Players or another charitable organization as the beneficiary of part or all of the proceeds. Your estate will be entitled to a charitable deduction for the amount passing to us. If you prefer, you can name Community Players as contingent beneficiary of a life insurance policy. CP would receive the proceeds only if your primary beneficiary died before you.
• Gifts of a New Policy — It may also be possible to make an important gift to Community Players with the purchase of a new policy on your life. Some plans even provide a mechanism for providing insurance for you and a potential gift to CP  with the payment of premiums by a third party.

You can designate Community Players as a beneficiary of your qualifed retirement plan, such as an IRA, 403(b), 401(k), etc. Please visit with your tax advisor or asset manager to learn how to set this up.

A memorial donation is a charitable gift made in honor of a person who has died. Often times the individual or their family will designate an organization or cause for memorial donations and it will be listed in the funeral notice.

You may make a memorial contribution to the funeral home, the individual designated in the funeral notice, or directly to Community Players via our website or check. We will notify the family of any donations we receive directly.

When making a memorial contribution online, please select "In Memory of" from the donation drop down menu and enter the individual's name.