As many of our most valued contributors have found, it is often possible to make a substantially larger gift to the Philharmonic through a bequest. Friends who include a bequest gift to the Philharmonic in their wills perpetuate the Orchestra's legacy - and their own - by providing for the future financial stability and artistic excellence of the New York Philharmonic. With the exception of Special Purpose bequests, bequest gifts become part of the Philharmonic's permanent Endowment Fund.
Outlined below are some of the most common bequest arrangements. While you should always consult with your attorney and financial and tax advisers in preparing your estate plan, we would be pleased to discuss any of these opportunities with you.
Types of Bequest Gifts
Bequest or testamentary gifts to the Philharmonic can take many forms. Their descriptions follow, along with sample language which your attorney can tailor to address your specific needs.
General Purpose Bequest
An outright, general purpose bequest from your estate is the most valuable to the Philharmonic. All general purpose bequests are contributed to the Philharmonic's permanent Endowment Fund, from which the annual draw supports all programs and orchestral activities.
| I give and bequeath to the Philharmonic-Symphony Society of New York, Inc., a not-for-profit corporation whose address is 10 Lincoln Center Plaza, New York, New York 10023, the sum of $_________ [or______% of my residuary estate]. |
Special Purpose Bequest
Should you decide that you would like your bequest used to support a special program or activity at the Philharmonic, we ask that you use the following language:
| I give and bequeath to the Philharmonic-Symphony Society of New York, Inc., a not-for-profit corporation whose address is 10 Lincoln Center Plaza, New York, New York 10023, the sum of $_________ [or______% of my residuary estate] to be used for ______________________[purpose]. If the Board of Directors in its sole and absolute discretion, determines that circumstances are such that a literal compliance with the terms of this bequest is impracticable or impossible, then the Philharmonic-Symphony Society of New York, Inc. may use this bequest in its permanent endowment, giving consideration to my special interest in the purpose as stated above. |
Other Types of Bequests
Specific bequests of securities, real estate, musical instruments, and/or other tangible personal property.
Contingent bequest to the Philharmonic - assets are distributed only if you outlive your named beneficiaries.
Bequest to a charitable remainder trust that will make payments to one or more beneficiaries for life or a term of years, after which remaining trust assets will pass to the Philharmonic.
Bequest to a charitable lead trust that will make payments to the Philharmonic for a period of years, after which trust assets pass to one's heirs at a reduced estate tax cost.
Contact:
Marilyn J. Liebowitz
Director of Major and Planned Gifts
New York Philharmonic
10 Lincoln Center Plaza
New York, NY 10023
Tel: (212) 875-5696
Fax: (212) 875-5716
E-mail: liebowitzm@nyphil.org
