This is the time when many people are consulting with their tax advisor or financial professional before deciding to give to charities so they may maximize their finance strategies. Please consider joining our community of donors who care deeply about our work and make bold plans for the future. Here are things you might want to consider as you make a gift to the Black Hills Playhouse.
OUR FUNDRAISING CYCLE
Our fundraising years are structured to include gifts received from 11/1 through 10/31. For example, if we receive a gift on 11/2, it will be counted for the next calendar year for our budget purposes (unless you request differently). If it come to us in October, it would be credited to our fundraising goals for the current year. In both cases, you would receive a tax deduction for the current calendar year it is received in.
LEADERSHIP CIRCLE
Gifts of $1500 or more qualify for the Leadership Circle. These donors are highlighted on our website and inserts in our playbill and invited to an annual dessert gathering where they get the inside scoop on what’s happening next at the Black Hills Playhouse
DONOR-ADVISED FUNDS
A Donor-Advised Fund (DAF) allows you to contribute to a fund as frequently as you like and then recommend grants to nonprofits like the Black Hills Playhouse, while potentially earning immediate tax benefits. A financial professional can set this up for you. Provide our legal name (Black Hills Playhouse, Inc.) and the amount you wish to donate. The financial professional will distribute the funds on your behalf.
REQUIRED MINIMUM DISTRIBUTIONS FROM A 401K
Many of our donors who are 73+ choose us as a recipient for their Required Minimum Distributions (RMD) for their 401k. The government requires that you collect AT LEAST the minimum amount calculated for the calendar year FOR EACH OF THE 401k accounts you hold. For many, this may put you into a higher tax bracket UNLESS you donate some or all of your RMD to a 501C3.
This is an easy way to donate directly to the Playhouse, and secure a tax benefit for yourself! (Also, there’s a penalty for not taking your full RMD, and we don‘t want you to get hit with a penalty fee!)
QUALIFIED CHARITABLE DISTRIBUTIONS
If you are 70 ½ years old or older, a qualified charitable distribution (QCD) allows you to donate up to $105,000 to charity directly from a taxable IRA instead of taking your required minimum distributions.
GIFTS OF STOCK
Donating appreciated stocks can support our cause and potentially help you avoid capital gains taxes and claim a tax deduction based on the full market value of your stocks. This kind of gift can also be included in your estate planning. The Black Hills Playhouse has funds invested at the Black Hills Area Community Foundation and the University of SD Foundation, as well as with Hillard Wealth Solutions. Stock will be transferred electronically from your personal account at your brokerage firm to one of our accounts. Please contact us for account details and specific instructions.
ESTATE PLANNING AND LEGACY GIFTS
This year we were fortunate to receive a large legacy gift from a long-time patron, the incomparable Toni Martin. Toni loved attending shows at the Playhouse and wanted to see it endure for future generations. She included us in her estate planning and we will be forever grateful. It was a thoughtful gift, designed to help the organization thrive.
When you name the Black Hills Playhouse as a beneficiary of any kind and let us know about it, it will help us understand how you would like your gift to be used so we can note it for the future. To name the Black Hills Playhouse, Inc. as a beneficiary, you will need to complete a brief beneficiary designation form provided by your financial institution or plan administrator. They will require our legal name, address, and tax identification number (see below).
Over the years, many people have donated to the Black Hills Playhouse and statewide BHP Education Programs in impactful ways that have transformed the work we do. This is certainly the case with Toni’s gift as it is giving us confidence to DREAM. We invite you to join us and join the group of people who are making the Playhouse thrive. Simply put–gifts from people who care about us, regardless of the size, are PRICELESS.
Donation Information
Black Hills Playhouse Inc.
PO Box 2513, Rapid City, SD 57709
Tax ID: 46-021-5866
to donate online: https://app.arts-people.com/index.php?donation=bhp
Please contact Development Director Jeff Kingsbury @ jeff@blackhillsplayhouse.com or Executive Director Linda Anderson @ linda@blackhillsplayhouse.com, or give us a call at 605 255-4910. We’d love to visit with you.
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