Planned Giving
When making a planned gift, use this language on your IRA, insurance, or other beneficiary designation forms; or provide it to your attorney for your will or living trust:
“I leave (% of estate, $ amount, etc.) to the Springfield Art Association of Edwards Place, an Illinois nonprofit corporation with Tax ID 37-6005963, located at 700 North Fourth Street, Springfield, IL 62702 for (general or specific purpose(s)) at the Springfield Art Association."
“I leave (% of estate, $ amount, etc.) to the Springfield Art Association of Edwards Place, an Illinois nonprofit corporation with Tax ID 37-6005963, located at 700 North Fourth Street, Springfield, IL 62702 for (general or specific purpose(s)) at the Springfield Art Association."
Planned Giving Options
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Bequests
Designating the SAA as a beneficiary of your estate supports the SAA in the future without diminishing assets during your lifetime and also provides estate tax savings. When including a bequest provision in your will, always use our full legal name and our federal taxpayer identification number. Gifts without a specific purpose listed will be considered general support. |
Charitable Remainder Trusts
Establish a trust from which you and/or other beneficiaries receive variable annual payments for life or a term of years. At the end of the term, the remainder of the trust assets go to SAA. |
Charitable Gift Annuities
Establish a trust from which you and/or other beneficiaries receive annual payments of a fixed dollar amount for life or a term of years, after which the remainder of the trust assets go to the SAA. |
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Appreciated Securities
Gifts of appreciated stock allow you to avoid capital gains taxes. Real Estate
A gift of your property to the SAA can be an excellent way to reduce your taxable estate. |
Retirement and Life Insurance
Name the SAA as a beneficiary of a retirement plan or life insurance policy. Using your retirement plan can be an especially tax-efficient and easy way to remember the SAA through your estate. Simply name the SAA as a primary or secondary beneficiary on your retirement plan’s beneficiary designation form. This option usually offers an important tax advantage since most retirement plans are subject to income taxes—and possibly estate taxes—if left to an individual. However, if the SAA is named as a beneficiary, the SAA does not pay income or estate taxes on the distribution. Another option is to make a current gift, if allowed by existing law, from a qualified IRA distribution. |
Donor-Advised Funds (DAFs)
You can recommend a grant from your DAF by calling your fund manager or by signing in to your granting institution and selecting Springfield Art Association of Edwards Place. |
The Springfield Art Association does not provide tax, legal or accounting advice. This material is prepared and made available to you for informational purposes only and is not intended to provide or be relied upon for tax, legal or accounting advice. You should always consult a tax professional to determine your particular tax benefits that may result from any particular type of gift to charity.
SAA Tax Identification Information
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Please use the following legal name and tax identification:
Springfield Art Association of Edwards Place 700 North Fourth Street Springfield, IL 62702 |
Tax ID Number: 37-6005963
The SAA is a nonprofit tax-exempt organization organized pursuant to IRS code 501(c)(3). View the IRS Determination Letter |
