“A magnificent cathedral devoted to the saints of sound and stage, consecrated when the world was black and white and dreams were over the rainbow, the Fox Theatre is downtown’s majestic cousin of San Xavier del Bac.”—David Fitzsimmons | Arizona Daily Star | 1/26/2013
The Fox Tucson Theatre is known throughout the country for its beautiful southwestern art deco interior, while many of the iconic performers who grace our stage are always impressed by our nearly perfect acoustics.
Dubbed “The Crown Jewel of Downtown,” this painstakingly restored, state-of-the-art facility is many things to many people:
Southern Arizona’s only remaining “movie palace”
An elegant and sophisticated performing arts venue
A multi-purpose community center
A unique rental facility for corporate, non-profit, and private events
With potential financial advantages to your estate, such a gift reflects your dedication to The Fox Tucson Theatre Foundation for the generations, while avoiding possible tax liabilities for your family and other beneficiaries. Donations from your estate to the Fox Tucson Theatre Foundation, a 501(c)3 nonprofit organization, are fully exempt from Federal Estate taxes to the extent allowable by law.
The Fox currently accepts three types of planned gifts: charitable bequests; IRA or Pension Plan Beneficiary Gifts; and outright gifts from your IRA today. A brief description of each type of gift is offered below.
A bequest is a gift made through your will or living trust. There are several types of bequests you can designate to ensure that your gift will be made in a way that honors your legacy: you can stipulate a gift of a specific dollar amount, or property such as stock, to be donated to The Fox; or you can select a percentage of the value of your estate to be given. Your intent to make such a bequest to The Fox can be made clear in your will or living trust using simple yet explicit language, upon consultation with your attorney.
Consider naming The Fox as a beneficiary of your IRA or pension plan. Retirement plans may be subject to estate taxes after death and income tax as the funds are received by a beneﬁciary, diminishing the ultimate value of the account. But by naming The Fox, a nonprofit 501(c)3 organization, as a beneficiary, both of these taxes can be avoided, allowing you to leave your family other assets that incur less tax liability.
If you are 70 ½ years of age or older, you can make a tax-free gift from your IRA today! This generous, tax-wise gift will help you make the most of your legacy while supporting The Fox now.
For more information about Planned Giving, please contact our Development Director, Karen Fogas at 520-547-8602.
Please note that this information is designed to provide general guidelines about planned giving to the Fox Tucson Theatre Foundation, including some of the potential financial benefits. It is not intended to provide specific advice about the legal or tax implications of charitable giving. Please be sure to contact your financial or estate advisor for further information and advice to determine which planned gift is the best fit for you.