Legacies and Bequests

The acorn of today is the oak of the next millennium
Bernard Shaw: Back to Methuselah, Part IV

The Shaw Festival is home to one of the finest acting ensembles in North America.  We can only produce some of the best theatre in the world because of the foresight, generosity, commitment and passion of many individuals.

Many generous supporters have made provision for a future gift to
the Shaw Festival. These commitments ensure our continued
success long into the future.

A planned lifetime or future gift (such as a bequest) allows you to make a significant impact while receiving tax benefits that, in some instances, can reduce the out-of-pocket cost of each gift significantly. These can include bequests, life insurance gifts, life income gifts, and retirement savings plan gifts. The Shaw honors its Legacy donors with our enduring gratitude, prudent investment, and wise use of your gift. In keeping with the nature of legacies and bequests, unless otherwise directed, contributions of this kind are generally directed to the Shaw Festival Theatre Endowment Fund.

THE BRIAN DOHERTY TRUST

Once you have completed your bequest arrangements, we’d like to know about it so we can express our thanks.  With your permission we’ll add your name to The Brian Doherty Trust, named in honor of founder Brian Doherty.  In 1962, Brian Doherty impulsively proposed the “Salute to Shaw” that launched the Shaw Festival and brought to life a dream that has made its mark on the world of theatre. We have established The Brian Doherty Trust to recognize generous individuals who provide support for The Shaw through bequests, insurance gifts, trusts and other planned gifts. Some donors prefer anonymity, and we will, of course, respect your wishes if you prefer your gift to remain confidential.

Ways in which you can make a bequest to The Shaw Festival

A SPECIFIC BEQUEST:
A specific bequest directs that the Shaw Festival Theatre Foundation is to receive a certain dollar amount in cash or a particular piece of property.  

A RESIDUAL BEQUEST:
A residual bequest designates that the Shaw Festival Theatre Foundation is given all or a portion of whatever remains of the estate after all debts, taxes, expenses, and other bequests have been paid.
 
A CONTINGENT BEQUEST:        
A contingent bequest takes effect only if the primary intention cannot be met (for example, if the primary beneficiary does not survive the donor).

LIFE INSURANCE GIFTS

Life insurance that you no longer need for your family’s security may be an attractive asset to donate to the Shaw Festival Theatre Foundation by naming The Shaw to be the first, second or final beneficiary of all or a portion of the proceeds.

If you name the Shaw Festival as irrevocable owner and beneficiary, you will be entitled to the benefits in respect of the value of the gift. Annual gifts to The Shaw to cover the cost of premium payments to maintain the policy are considered charitable gifts as well.

LIFE INCOME GIFTS

A life income gift may enable you to provide financial security for yourself and your family, and at the same time provide future major support to the Shaw Festival. You can make a life income gift now or as part of your estate plan. For example:

A CHARITABLE REMAINDER TRUST
A designated portion of the estate property is used to fund the trust, which then pays the net income to the beneficiary(ies) identified in your will. When the trust terminates (at the death of the beneficiary(ies) or at the end of a term of years), the trust principal is distributed to the Shaw Festival Theatre Foundation.   

RETIREMENT SAVINGS PLAN GIFTS

GIFTS OF RRSP OR RRIF FUNDS (CANADA)
If you have made other provisions for surviving dependents, you may wish to consider a charitable gift of RRSP accumulations by naming your estate as the beneficiary of the RRSP and by providing for a charitable bequest equal in value to the RRSP proceeds in your will. The donation receipt issued for the bequest offsets the tax on the distribution.

GIFTS OF IRAS, 401(K), KEOGH, AND OTHER PLANS (USA)
More than any other asset in your estate, your retirement plan may be an excellent source of funding a gift to the Shaw Festival. The Shaw’s charitable tax status exempts it from the heavy taxes your individual heirs could incur if you were to give retirement plans assets to them. The combined federal, state, and local income and estate taxes on a large plan can amount to as much as 75%  leaving relatively little for your heirs. Consult your retirement plan administrator or attorney for details.

YOUR CHARITABLE BEQUEST WILL BE ELIGIBLE FOR TAX RECEIPT

At your death, your estate is entitled to a donation receipt for the full value of your bequest, providing a significant tax credit on your final tax return.

Bequests and other gifts from residents of the United States are made through the Shaw Festival Theatre Foundation, which is recognized by the Internal Revenue Service as a section 501(c)(3) charitable organization. Your estate will receive a tax letter conforming to IRS requirements.

HOW WILL YOUR BEQUEST BE USED?

Most bequests are directed to the Shaw Festival Endowment* Fund, but you may also make a gift for general purposes, or a restricted gift to be used for a particular purpose or program. We invite you or your advisor to contact us for more information.  (*Endowment – a permanent fund which generates investment income to maintain and sustain the Shaw Festival.)

FOR FURTHER INFORMATION:

For further information on the Shaw Festival Legacies and Bequest program, or to make a gift, please contact:
Jim Bratton at 905-468-2153 or 1-800-657-1106 ext 2226.  All enquiries are treated in strict confidence.