Other Types of Gifts
Gifts of appreciated stock can benefit the Colony Theatre while providing significant tax savings for individuals or corporations.
By directly donating stock to the Colony rather than selling the stock and paying capital gains tax, individuals or corporations can increase the gift amount to the Colony and benefit from a charitable deduction. The Colony can accept the gift of an actual stock certificate or can accommodate a transfer from a brokerage account.
Gifts of property
The Colony can also benefit from the gifts of property such as real estate, automobiles, boats and other personal property. Some items such as costumes, instruments or furniture could actually be used by the Colony while other items would be sold with the proceeds benefiting the theatre. A donor would receive a charitable deduction based on the appraised value of the item.
Make a gift in memory of a loved one or simply make a bequest to the Colony Theatre in your will. There are many naming opportunities throughout the theatre.
Tax advantages can also be gained through the creation of a Charitable Remainder Trust (CRT) or Charitable Lead Trust (CLT).
By creating a CRT to benefit the Colony, a donor can receive income from an appreciated asset that has avoided capital gains while providing for a future benefit to the theatre. A CLT is just the opposite where an asset is immediately transferred into a trust, but income accrues to the Colony. A donors estate is reduced and income is paid to the Colony until the underlying asset passes to a spouse, child or other beneficiary.
For planned and other future gifts the Colony works with the Marietta Community Foundation where an endowment fund is already in place.
Please note that every tax situation is unique. A Colony representative is happy to answer any questions, but you should consult with a professional tax attorney or accountant before making any decision.