Other Ways to Donate

The VCA Legacy CIRCLE 

The VCA Legacy Circle was established in honor of Katherine L White who gave so generously and left her legacy at Vashon Center for the Arts. Through her foresight and charitable estate planning, the new VCA campus is here today. Future VCA Legacy Circle members will make a crucial difference in providing an enduring foundation for the ongoing vitality of Vashon Center for the Arts and its programs. 

Here are some ways you may make a charitable donation through planned giving and become a member of the VCA Legacy Circle: 

IRA ROLLOVER GIFTS  

Are you age 70 ½ or older with funds in individual retirement accounts (IRAs)? You may want to take advantage of an excellent tax-planning opportunity called the IRA charitable rollover gift. Here’s how it works: 

• At age 70 1/2, you are required to start taking your “minimum required distribution” out of your IRA. These distributions are taxable to you.
• If you make a gift directly from your IRA to any public charity, this “charitable rollover” counts toward your required minimum distribution but is nottaxable to you. 
• There is nothing to itemize as you don’t receive a charitable deduction for this rollover gift. However, you lower your adjusted gross income, which results in a lower tax bill to you.
• Even if you elect to itemize your taxes, a charitable rollover gift can reduce high-income premium surcharges for Medicare.

FUTURE GIVING 

BEQUESTS 

A bequest is a provision in your will or living trust that directs funds or assets to VCA upon your passing. Although we especially appreciate an unrestricted bequest because of the freedom to use it wherever and however needed, some donors understandably have special interest areas that they may desire to promote or support. There are various types of bequests:  

• A specific request designates that VCA receives a specific dollar amount or designated property. 
• A residual bequest designates that VCA receive the remainder of your estate, or a percentage of the remainder, after all debts, expenses, and specific bequests have been paid. 
• A contingent bequest designates VCA as a beneficiary only after certain conditions are met. A typical example would be that specified family members must have predeceased the donor for VCA to benefit. 
• A percentage bequest specifies a fraction of your estate pass to VCA upon your death. 
• A bequest in trust provides income to another individual for life with the trust principal coming to Vashon Center for the Arts upon the death of the income beneficiary. 

LIFE INSURANCE 

Vashon Center for the Arts will be honored to accept gifts of life insurance if you choose to name Vashon Center for the Arts, Inc. the beneficiary and owner of the policy. Fully paid-up policies that are no longer needed for their original purpose can be excellent planned gifts. 

RETIREMENT PLAN 

A 401(K) or 403(B) retirement plan can be a tax-efficient and simple way of including Vashon Center for the Arts in your estate plan. The best method is to name VCA as a beneficiary on your plan’s beneficiary designation form. 

GIFTS THAT PAY INCOME 

CHARITABLE REMAINDER TRUST 

A Charitable Remainder Trust enables you to irrevocably transfer assets – cash, securities, real estate, or other appreciated property — to a professionally-managed trust either for life or for a term of years and receive tax savings up front. 

• A unitrust provides an income that varies based on a fixed percentage of the trust’s assets as valued yearly. Because of this annual valuation, you can add to your unitrust over time to assist with your unique financial and estate planning needs. 

• An annuity trust provides a fixed income based on a percentage of the initial market value of the trust. This income stream will never change, maximizing your ability to plan based on this secure annual amount. Because of this one-time valuation, however, you cannot add to an annuity trust. 

YOUR LEGACY 

In some cases, a fund may be created with your planned gift and can carry your name or that of another person you wish to honor. Named funds are a way to share what is meaningful to you within the arts community well into the future. Please note that minimum gift amounts are required for creating named endowed funds. Possible endowed funds include: 

• Scholarships
• Artist in Residency
• A specific VCA program

INFORMATION FOR ADVISORS 

Can my client make an anonymous gift? 

Vashon Center for the Arts treats all gifts with confidentiality, and we will certainly respect stated requests for anonymity. We hope that your client will be willing to inform us of his or her estate plans in confidence, however, so that we can say thank you and make sure that we can honor any special requests. Such confidential disclosures also allow Vashon Center for the Arts to better plan for the future. 

Can my client restrict an estate gift to Vashon Center for the Arts? 

Vashon Center for the Arts encourages unrestricted gifts if they are likely to be received many years in the future. Having said that, we understand that some donors may have a special interest in supporting a particular area. Your client may designate how a bequest to Vashon Center for the Arts be used, for example to support the performing arts, visual arts, arts education, or another specific program area.  

Vashon Center for the Arts’ legal name 

Vashon Allied Arts, Inc. 

VCA Tax ID number 

51-0183051 

Mailing Address 

Vashon Center for the Arts 
PO Box 576 
Vashon, WA. 98070  

Contact VCA 

206-259-3010 
allisonr@vashoncenterforthearts.org