What Is Planned Giving?
A planned gift is any major gift, made in lifetime or at death as part of a donor’s overall financial and/or estate planning. These include gifts of equity, life insurance, real estate, personal property, or cash. Anyone of any age can designate a gift in various forms and sizes at any time.
Planned giving allows donors to include The Cadets in their will, designating a gift (called a “bequest”) to the organization. This type of giving requires no present obligation, but instead allows donors to look to the future of the organization as part of their estate plan. Donors may make a general, unrestricted gift that will be available for The Cadets to use in any capacity or a restricted gift to be used in a manner designated by the donor. This allows a donor to make a lasting impact in a way that is meaningful for them and for the young people served by The Cadets.
Planned gifts can also be made during your lifetime as part of an overall estate plan. Laws regarding estate planning vary from state to state. Consult with your estate planning professional to discuss the smartest way to support the legacy of future Cadets.
- You leave a lasting legacy to be remembered.
- You may lessen the burden of taxes on your family.
- You may receive estate tax savings.
- You help to ensure the future mission of the organization.
Why The Cadets?
Your planned gift will help ensure the future of The Cadets and will support life-enriching education for young people through participation in the performing arts well into the future. As a non-profit organization, we are committed to ensuring that our programs are fully funded, and that those funds we raise are spent wisely.
How to Add The Cadets to Your Will or Trust
A bequest is one of the easiest gifts to make. With the help of a financial and/or legal advisor, you can include language in your will or trust specifying that a gift be made to The Cadets as part of your estate plan.
A bequest can be made in several ways:
- You can gift a specific dollar amount or asset.
- You can gift a percentage of your estate.
- You can gift from the balance or residue of your estate.
- You can make a beneficiary designation of certain assets.
If you already have a will or trust, review the documents to determine if any changes in your family or other circumstances warrant revising the document. If you wish to add The Cadets for a gift in your existing will or trust, contact the attorney who drafted the document and request a simple amendment.
If you do not have a will or trust, contact an estate planning attorney to prepare these documents. It’s a good idea to seek a recommendation for an attorney from family members, friends, or colleagues. You may also contact your local bar association lawyer reference service for a referral. Then, as you draw up your will or trust with your attorney, name The Cadets as a beneficiary on your life insurance policy, retirement account, savings bonds, bank accounts, and/or securities.
Choose How Your Bequest Is Applied
You have several options for declaring how we may use your bequest once we receive it. They are:
- Unrestricted Bequest – This is a gift for our general purposes. This can be the most useful kind of gift because it allows us to put your gift to the best possible use at the time it is received.
- Restricted Bequest – This is a gift for a specific use, such as a special project or program that is important to you. It is best for you to consult with us before placing restrictions on your bequest to be sure we can carry out your wishes.
- Endowed Bequest – This is a gift to start an endowment. We will distribute these funds in accordance with an endowment spending policy. This approach assures that your gift will continue to benefit us long after you’re gone. An endowed bequest can be restricted or unrestricted.
- Honorary Bequest – This is a gift made in honor of someone else. Any form of bequest can also be an honorary bequest. We would be pleased to recognize the person(s) you wish to honor with your gift.
We respect your right to anonymity, but we would welcome the opportunity to thank you for your thoughtful gift and to confirm that we can carry out your wishes.
Other Forms of Planned Giving
There are several simple ways to make a bequest to The Cadets apart from including the corps in your will. You can also make The Cadets a beneficiary for one or more of the following:
- Life insurance policy
- IRA, 401k, or other retirement plan
- Savings bonds
- Bank accounts and securities
- Instruct your bank to “pay on death” to The Cadets some or all of a specific bank account.
- Instruct your brokerage firm to “transfer on death” to The Cadets some or all of a specific brokerage or other financial account.
Tax and Legal Information
All legacy gifts should be directed to “Cadets Arts & Entertainment, Inc.” Please also indicate whether the gift is for general purposes or for a particular program or purpose.
The Tax ID number for Cadets Arts & Entertainment, Inc. is 85-0545477
Cadets Arts & Entertainment, Inc.
1444 Hamilton Street, Suite 103
Allentown, PA 18102
Suggested Terminology to Share with Your Tax Advisor
I give the sum of $_________ to Cadets Arts & Entertainment, Inc., a New Jersey not-for-profit corporation (Tax ID number #85-0545477), or its successor, now having its principal place of business at 1444 Hamilton Street Suite 103, Allentown, PA 18102, to be used for The Cadets Drum and Bugle Corps.
I give to Cadets Arts & Entertainment, Inc., a New Jersey not-for-profit corporation (Tax ID number # 85-0545477), or its successor, now having its principal place of business at 1444 Hamilton Street Suite 103, Allentown, PA 18102, ________% of the rest of my estate, for any purpose as Cadets Arts & Entertainment, Inc. deems appropriate.
I give to Cadets Arts & Entertainment, Inc., a New Jersey not-for-profit corporation (Tax ID number #85-0545477), or its successor, now having its principal place of business at 1444 Hamilton Street Suite 103, Allentown, PA 18102, the real estate located at __________________ for any purpose as Cadets Arts & Entertainment, Inc. deems appropriate.
I give to Cadets Arts & Entertainment, Inc., a New Jersey not-for-profit corporation (Tax ID number #85-0545477), or its successor, now having its principal place of business at 1444 Hamilton Street Suite 103, Allentown, PA 18102, __________________(1000 shares of XYZ stock), for any purpose as Cadets Arts & Entertainment, Inc. deems appropriate.
If you would like to speak to someone personally about planned giving to The Cadets, please contact:
Denise Bonfiglio, Chief Executive Officer, email@example.com
Justin Moore, Chief Operating Officer, firstname.lastname@example.org
Allison Broussard, Marketing & Development Manager, email@example.com