Planned Giving

We invite donors who declare an interest in the future of Ballet Lubbock to ensure the longevity of the ballet and its programs by including Ballet Lubbock in their wills, insurance, charitable remainder or charitable lead gifts.

We are extremely grateful to our planned giving donors as their generosity and foresight will enable Ballet Lubbock to maintain its growth, stability, and mission to change lives and enhance the Lubbock community through premier dance training, performances, and outreach.

Planned gifts are welcome at any monetary amount.

No matter the amount, all planned gifts ensure the longevity of Ballet Lubbock’s programs and are deeply appreciated.

Learn more about planned giving opportunities. Email Helen Hunter below, or call 806.785.3090.
... Email Helen

In appreciation of members’ pledge to help ensure the future of Ballet Lubbock, we offer the following benefits:

  • Permanent donor signage at Ballet Lubbock in Buddy Holly Hall
  • Name recognition in our Season Program
  • Name recognition on the Ballet Lubbock Planned Giving webpage

Planned Giving Opportunities:

Wills & Bequests
Example: You grew up attending The Nutcracker and then began taking your daughter when she was young. Now, you, your daughter, and your grandchildren attend Ballet Lubbock’s The Nutcracker every year as a family tradition. In honor of this, you provided in your will that one third of your cash estate be given to the Ballet Lubbock, ensuring the future of Ballet Lubbock and The Nutcracker.
Benefits to You:
  • You have control of your assets during your lifetime.
  • You can make modifications to your bequest.
  • No upper limit on estate tax deductions for your charitable bequest.
  • Plan now for the future and name the Ballet Lubbock in your will or revocable trust.
Life Insurance
Example: Jackie owns a life insurance policy she no longer needs. When she transfers ownership of the policy to Ballet Lubbock, she can deduct the cash value of the policy now as well as leave a generous gift to Ballet Lubbock in the future.
Benefits to You:
  • You receive the immediate income tax deduction for the cash value of the policy.
  • You are able to make a generous gift to the Ballet Lubbock without affecting your cash flow.
Charitable Remainder Annuity Trust
Example: Jack and Jill have stock worth $55,000 for which they originally paid $25,000. They can support Ballet Lubbock by donating this stock to a charitable remainder trust. They defer the tax on the $30,000 capital gain and receive an income tax deduction this year for a portion of the trust. They also receive monthly payments from the trust until the time of their death. The balance of the trust is donated to Ballet Lubbock.
Benefits to You:
  • You receive an immediate income tax deduction for a portion of your contribution to the trust.
  • You or your designated beneficiaries receive a predictable, stable income for life or specified term.
  • You defer payment of the capital gain tax on appreciated assets you donate.
  • You receive the benefits of the donation now and Ballet Lubbock benefits from it in the future.
  • You transfer assets to a trust that makes fixed payments to you or a beneficiary. When the trust ends, the principal is donated to Ballet Lubbock.
Charitable Lead Trust
Example: Mark establishes a lead trust, valued at $500,000, to benefit Ballet Lubbock. The trust will pay Ballet Lubbock an annual income of 5% of the trust’s value for 15 years, starting with an initial payment of $25,000. Mike may receive an income tax deduction for present value of the payments. After the 15 years, the remainder of the trust passes to Mike’s family. The trust’s appreciation goes tax-free to his family.
Benefits to You:
  • You receive a gift tax deduction for the present value of the annuity payments to Ballet Lubbock.
  • The transfer taxes due when the principal is paid to your heirs can be lessened or eliminated based on the structure of the annuity payments and the term of the trust.
  • Your heirs receive the appreciation on the trust tax free.
  • Your lifetime available estate tax exemption (currently $3.5 million per person) can be applied to reduce taxes on transfers to your heirs.
  • You are able to make a generous donation to Ballet Lubbock now while reducing the taxes on transfers to your heirs later.
  • You transfer assets to a trust that makes fixed payments to Ballet Lubbock for specified term. When the trust ends, the principal goes to your heirs.
  • You are able to make a generous gift to the Ballet Lubbock without affecting your cash flow.
IRA or 401(k)
Example: Joy is employed with a company that offers a 401 (k). She learned she can name Ballet Lubbock as a beneficiary of her 401(k). After she retires, she will continue to make withdrawals, but will be able to leave the remainder to Ballet Lubbock upon her passing.
Benefits to You:
  • You can avoid income and estate taxes on residual left in your account.
  • You can continue to make withdrawals during your lifetime.
  • You can change beneficiaries throughout your lifetime.
  • You can name Ballet Lubbock as a beneficiary of your IRA or 401(k).

What is Planned Giving?

Donors who plan future gifts secure the future of Ballet Lubbock by making a gift to Ballet Lubbock in their wills, revocable trusts or other planned giving instrument.

What actions do I take to plan a gift for Ballet Lubbock?

The first step is to notify Ballet Lubbock of your intention to make a gift in a will or other vehicle for planned giving by signing a Planned Giving Letter of Intent.

Next, you should always seek legal counsel in order to make sure that your intentions are clearly and accurately stated, and to avoid unnecessary expense and frustration to your family due to ambiguity in your documents. Although all circumstances are different and vary in levels of complexity, it could be as simple as asking your lawyer to add an addition to your will or amendment to your revocable management trust.

Is any designation to Ballet Lubbock revocable?

Yes, you can always change your gift. Your Letter of Intent to Ballet Lubbock is not binding.

Do I have to give Ballet Lubbock a copy of my will?

We welcome to opportunity to retain a copy for our files, but it is not a requirement.

May I designate either a specific amount or a percentage of the estate to leave as my gift to Ballet Lubbock?

Yes, either option is available and your lawyer should be able to explain to you the various options for including Ballet Lubbock in your will.

What is the minimum amount I can designate?

There is no minimum gift—Ballet Lubbock appreciates and will accept gift designations of any amount.