Types of Gifts

Overview

You may support the mission of Interlochen by making current or future gifts. Current gifts include donations of cash, securities or similar assets. Current gifts also can be made in the form of a pledge commitment payable over a three- to five-year period. Future gifts are typically made in conjunction with your estate plan, such as including Interlochen in your will or establishing a trust or similar tax-advantaged life-income gift.

Current Gifts

Current gifts are most helpful to Interlochen because they are available for use in the present. Current gifts are essential if Interlochen is to achieve its priorities for the endowment, the Interlochen Fund, and facilities maintenance. The two most common types of current gifts are cash and appreciated assets.

Non-cash Gifts

For most donors, gifts of appreciated assets that have been held for more than one year may be a more "tax-wise" gift than cash.

Appreciated assets include:

• Publicly traded securities and mutual funds
• Closely-held stock
• Real estate
• Paid-up insurance policies

• Charitable lead trusts

Gifts of securities may be made by electronic transfer or by assigning or issuing the paper certificates to Interlochen Center for the Arts. Click Gifts of Securities for more information.

Gifts of real estate, art, musical instruments, equipment, furnishings and other tangible property can be accepted for institutional use. Click Gifts-in-Kind for more information.

If you are considering a gift of appreciated assets, the Advancement staff will be pleased to assist you in completing the transaction; just call 231-276-7623.

Future Gifts

Future gifts are those in which the donor retains an interest and the charitable use by Interlochen is deferred to some future time.

Common future gifts include:

• Bequests (through your will or estate plan)
• Charitable remainder trusts
• Charitable gift annuities
• Deferred pledge agreement
• Named Beneficiary of an IRA or retirement plan.
• Personal residence or farm (retained life estate)  

Representatives in the Advancement Office can assist you in several ways with making a deferred gift. We can provide you with the appropriate wording for a bequest or deferred pledge agreement and help you explore the benefits of setting up a charitable trust or annuity.

Or, click here for more information on Planned Giving.

"Is my gift tax deductible?"

The IRS encourages support of charitable organizations by allowing an income tax charitable deduction to those who itemize their taxes. Charitable gifts of cash may be deducted up to a maximum of 50 percent of your adjusted gross income. There is a five-year carry-over of unused deduction amounts, thus enabling you to spread the deduction over as many as six years. There are other rules governing charitable deductions for other types of gifts.