Planned Giving
Christopher Keene Legacy Society
The Christopher Keene Legacy Society was established to recognize those individuals who have made a commitment to the Syracuse Symphony Orchestra in their financial and estate plans. These individuals have made a commitment to the future of orchestral music in Central and Northern New York.
Christopher Keene's leadership and vision lifted the SSO from a small regional symphony to one of national stature. Membership in the Keene Society is a reflection of an individual's foresight and commitment to the future of the Symphony.
For more information about Estate Planning, please contact contact the Development Office at (315) 424-8222.
Qualifications of Membership
You can join other members of our community who are committed to the future of the SSO by supporting the Orchestra through a gift from your estate plans.
If you already included the Orchestra in your estate plans, simply notify the Development Office of your generosity and you will automatically become a member. The specific information about your bequest will remain confidential, but your notification will allow the Orchestra to recognize your generosity.
If you haven't yet included the SSO in your plans, you can do so in the following ways:
Bequests
The easiest way to make a planned gift to the Symphony is through your will. You may choose to make a gift to the Symphony of a specific dollar amount or a percentage of your estate. Bequests are entirely free from federal estate tax and there is no limit on the amount you can leave to the Symphony or any other charitable organization.
If you have already executed a will, it can be amended easily through a codicil. To be valid, a codicil must be executed, signed, and witnessed according to New York State laws. The following language may be used for a general bequest to the Syracuse Symphony Orchestra:
"I give $____ to the SYRACUSE SYMPHONY FOUNDATION, INC., to be added to its endowment fund to support the Syracuse Symphony Orchestra.
Donors may avoid both estate tax and income tax by naming the Symphony as beneficiary of Individual Retirement Accounts, 401(k), 403(b), Keogh plans, or other qualified pension plans which can be significantly diminished by federal, estate and excise taxes. Reducing your tax burden through donations of retirement assets can lower your estate tax burden, allowing your heirs increased inheritance from other remaining assets.
In passing Life Insurance Policies, a donor can ensure the Symphony a large cash value by investing in a relatively small premium. The policy is not subject to estate taxes.
Through a donation of a primary residence or vacation home, the donor will enjoy an immediate income tax deduction (which may carry over for as many as five years) and the home will not be included in the donor's probate estate. The donor can occupy the residence for life, without disruption, with the knowledge that the home will eventually benefit the Symphony. With interest rates relatively low, deductions for gifts of retained life estate increase.
Life Income Gifts
Life income gifts allow donors increased current income through a charitable income tax deduction and avoidance of capital gains tax. Through life income gifts, the donor makes a gift to the Symphony while retaining the right to receive income payments for life or, in some cases, a period of up to twenty years. At the end of the period, the remaining principal supports the Symphony's service to the community. The following is a type of life income gift:
Charitable Gift Annuity: A Charitable Gift Annuity is a simple contract between a donor and the Syracuse Symphony Orchestra. In return for a gift to the Symphony, the donor will receive income payments for life. Based upon the age of the donor, these payments are fixed or may increase at a predetermined rate. Gift annuities may begin immediately upon receipt of the gift or may begin at a future date determined by the donor.