SECURE YOUR LEGACY
Ultimately, legacy giving empowers individuals to become custodians of cultural heritage, ensuring that the CSO remains an enduring force in the ever-evolving world of music.
By including the Canton Symphony Orchestra in your estate plan at any level, your generosity helps ensure that what you love about the CSO will be available to future generations.
Contact us to discuss how legacy gifts can help you achieve your philanthropic and personal goals for you and your loved ones, as well as provide greater financial flexibility and significant tax benefits. All conversations are confidential and at a pace that is comfortable for you.
Nathan Maslyk, Director of Marketing & Development
nmaslyk@cantonsymphony.org | (234) 666-2710
MAKE A BEQUEST
A bequest is a gift provision in your will or revocable living trust. All assets, including cash, securities, real estate, and tangible personal property, may be transferred to Canton Symphony Orchestra at the end of your life.
One of the simplest ways to make a gift to the Canton Symphony Orchestra is to designate the CSO to receive your assets at the end of your lifetime. You can specify all or a percentage of the assets you want each beneficiary to receive. Often, it’s as easy as filling out a form.
Tributes & Memorial Gifts
Honor a friend or loved one with a gift to our Rhapsody Remembrance Fund. These tax-deductible donations can be made at any time and will be recognized in the program insert.
How? When making a gift, be sure to include a note with your gift with the tribute details. (i.e. in memory of John Smith)
Beneficiary designations are an option for giving the following financial assets:
RETIREMENT ASSETS
An alternative to a charitable bequest is to designate Canton Symphony Orchestra as the beneficiary of your retirement account assets. This gift is simple because there is no need to modify your will or living trust. All you need to do is complete a beneficiary designation form with your plan administrator.
A gift of retirement assets has the added advantage of being a very tax-wise way to make an estate gift.
LIFE INSURANCE
You can also use a life insurance policy to make a gift to the CSO. It’s usually as simple as completing a form with the insurance company designating Canton Symphony Orchestra as the beneficiary of all or a portion of the death benefit of your life insurance policy. As an alternative to naming the CSO as the beneficiary, you can transfer ownership of the policy. Transferring ownership can produce an immediate income tax charitable deduction for the value of the policy and future income tax deductions if you continue to pay premiums on the policy.
DONOR ADVISED FUNDS
Donor-Advised Funds (DAF) are an increasingly popular way to make a charitable gift. Donors should consider using donor-advised funds due to their convenience, flexibility, and strategic impact. DAFs provide a streamlined and efficient way for individuals to manage their charitable giving, allowing them to make contributions and recommend grants at their own pace. These funds offer flexibility by allowing donors to support multiple causes or organizations through a single account.
ANNUITY CONTRACTS
A commercial annuity will sometimes have a remaining value at the end of the annuitant’s lifetime. You can name the CSO to receive all or part of this amount by designating us as a beneficiary (sole or partial) on the appropriate form from the insurance company.
BANK ACCOUNTS
You can instruct your bank to pay the CSO all or a portion of what remains in a checking or savings account. Your bank can provide you with the appropriate beneficiary designation form.
INVESTMENT ACCOUNTS
You can instruct your investment company to transfer to the CSO some or all investments held in the account at the time of your passing. Your broker or agent can help you complete the process, which may be as simple as amending the name on the account to include the Canton Symphony Orchestra.
PARTNER INSTITUTIONS
With something as important and meaningful as your legacy giving, the Canton Symphony Orchestra collaborates with the following partners. These institutions have been long-time pillars of the Stark County community and we are confidant in their ability to help you navigate your giving journey, should you need it!
These institutions bring expertise in wealth management and philanthropic strategies, helping individuals optimize their charitable giving and plan for the future. We value transparency, accountability, and experience in financial operations, ensuring compliance with Internal Revenue code and best practices are being followed.
Together, these partner organizations form a robust network that fortifies the Canton Symphony Orchestra’s financial stability, legal compliance, philanthropic endeavors, and community engagement.
Please note, the Canton Symphony Orchestra’s recommendation of these partners does not exclude your participation if you have your own representation.
STARK COMMUNITY FOUNDATION
Stark Community Foundation is a community foundation located in Stark County, Ohio. Established in 1963, the foundation serves as a catalyst for positive change and community development in the region. Its primary mission is to connect people and organizations with charitable causes, providing resources and expertise to address the community’s evolving needs. Stark Community Foundation offers a range of services to both donors and nonprofit organizations. It manages charitable funds and provides grantmaking support, enabling individuals, families, and businesses to establish funds and make strategic contributions to causes they care about.
Interested in learning how to set up your very own Donor Advised Fund? If you are ready to embark, we highly recommend using Stark Community Foundation.