Planned Giving | Community Arts Center

What is Planned Giving? It is a personal decision to make a present-day commitment to a future contribution, enabling a powerful philanthropic legacy on the future of the arts in our community.
Make a significant commitment to help further our mission through any of the following:

BEQUESTS

BENEFICIARY DESIGNATIONS

IRA ROLLOVER AND QUALIFIED CHARITABLE DISTRIBUTIONS

CHARITABLE GIFT ANNUITIES

GIFTS OF APPRECIATED STOCK

Tax information provided on this webpage is for illustrative purposes only. Before making any decision, we encourage you to consult with your tax advisor.

BEQUESTS

You can make a charitable gift through your estate, such as a will or living trust. Your gift may be a specific amount, a percentage of your estate, or the remainder of your estate after provisions are specified. Bequests are a popular way to make a commitment and can be used to establish memorials in honor of the donor or family members.

Tax information provided on this webpage is for illustrative purposes only. Before making any decision, we encourage you to consult with your tax advisor.

BENEFICIARY DESIGNATIONS

IRA and Qualified Retirement-Plan Distributions

You can designate that the Penn College Community Arts Center receives all, or a portion, of what remains in an IRA or in most qualified retirement plans, including 401(k) or 403(b). This gift precludes the amount distributed to Penn College Community Arts Center from being subject to estate and income taxes.

Life Insurance

Gifts of life insurance provide a method of making a substantial gift and providing a lasting legacy. You can choose the Penn College Community Arts Center as either the beneficiary or the owner of a life insurance policy that is no longer needed. While making an investment in our mission, you can also reduce estate taxes and, in many cases, receive a charitable income-tax deduction for the cash surrender value of the policy if the gift is made irrevocably.

This can be done in one of two ways:

By assigning/transferring ownership of the policy to the Penn College Community Arts Center
By naming the Penn College Community Arts Center as the beneficiary

Donor Advised Funds

A donor-advised fund (DAF) is established for the sole purpose of supporting non-profit organizations. A DAF allows you to take advantage of immediate tax benefits with the ability to distribute the funds over time. You can contribute cash, stocks, or other assets in the fund and receive an immediate tax deduction. These funds are invested by the financial institution for tax-free growth, and you can recommend contributions to Penn College Community Arts Center (and other charities) over time.

Tax information provided on this webpage is for illustrative purposes only. Before making any decision, we encourage you to consult with your tax advisor.

IRA ROLLOVER AND QUALIFIED CHARITABLE DISTRIBUTIONS

This gift allows donors 70 ½ years of age or older to contribute up to $108,000 from your IRA in 2025 without paying income tax on the distribution.

IRA Charitable Rollover

You can make a gift directly from your IRA to the Penn College Community Arts Center, and satisfy all or a portion of your required minimum distribution (RMD) from your IRA beginning at age 73 and exclude that distribution from your Federal gross income. Naming the Penn College Community Arts Center as a beneficiary of an IRA is simple! Contact your IRA custodian and ask that your distribution be a charitable rollover to the Penn College Community Arts Center. Ask them to include your name, address, and the designation of your gift in the transfer.

Tax information provided on this webpage is for illustrative purposes only. Before making any decision, we encourage you to consult with your tax advisor.

CHARITABLE GIFT ANNUITIES

Under a new law in 2023, some donors can make a Qualified Charitable Distribution in exchange for a charitable gift annuity. These are some rules and limitations.

Charitable Rollover Gift Annuity

You can exercise this option only once during your lifetime.
There is an aggregate limit of $54,000 for 2025.
The entire payment you receive from your charitable gift annuity will be subject to income tax.
You can include your spouse as a recipient of the annuity payment.
There is no income tax deduction for this contribution, although there is no tax on the QCD either.

Charitable Gift Annuity

A minimum gift of $10,000 is required to establish a CGA with the Penn College Community Arts Center. Individuals who would like to establish a CGA with the CAC must be at least 55 years old, and they must be at least 60 years old to receive payment. Through giving assets to a CGA, donors receive a charitable tax deduction and fixed payments. Earnings in excess of payments are then gifted to the CAC.

Tax information provided on this webpage is for illustrative purposes only. Before making any decision, we encourage you to consult with your tax advisor.

GIFTS OF APPRECIATED STOCK

You can transfer appreciated stock from your account to the Penn College Community Arts Center to receive an immediate charitable gift deduction and avoid long-term capital-gains taxes on the appreciation value of the stock. Your gift can be used to support the CAC mission to enhance the quality of life for the community through arts and entertainment, or priority projects to support the facility.

Please note: You should call or email us to tell us of your intent, and we will be able to assist you with the details of the transfer.

Delivery Instructions

M&T Bank Account Name: Pennsylvania College of Technology
DTC Clearing Number: 0990
M&T Bank Account Number: 2002983
EIN: 23-2564508

Donor names are not always included on stock transfers that we receive. To ensure your gift is recorded correctly and designated correctly, please provide the following information as soon as you request a transfer with your advisor.

Name of the security
Number of shares
Designation of the gift

Tax information provided on this webpage is for illustrative purposes only. Before making any decision, we encourage you to consult with your tax advisor.