Legacy Giving

The Ovation Society at the IRT: Create your personal legacy

Making a legacy gift to the Indiana Repertory Theatre will help ensure that the theatre you know and love can continue to thrive for generations to come. A variety of estate gift options gives you the flexibility to manage your assets in a way that makes financial sense to you and your family, while providing future funds to support the continued success of one of Indiana’s great cultural institutions, the IRT.

From a simple bequest to more complicated charitable trusts, there are a variety of ways you can include the IRT in your estate plans. Our staff is happy to work with you and your financial advisor, tax professional or family attorney to determine how a legacy gift can help you meet your financial and charitable goals.

All legacy donors who share their plans with the IRT will be recognized in the Ovation Society, our exclusive society that recognizes and celebrates donors that have included the IRT in their estate plans.

Read on below to learn about the variety of options available to you as a legacy donor.

For more information, or to discuss making a legacy gift, contact Lindsey Horan at lhoran@irtlive.com or 317-916-4833.

Bequests 

This is the simplest planned gift, requiring only that you include language in your will or trust, allocating a sum or percentage of your estate for the benefit of the IRT. Assets bequeathed to the IRT remain yours during your lifetime, and no minimum gift is required. Such a gift may reduce estate taxes.

Life Insurance 

Name the IRT as the full or partial beneficiary of a life insurance policy. A low cost to you yields a large gift to the Theatre, and no minimum gift is required. This type of legacy gift can result in an immediate tax deduction.

Retirement Assets 

Name the IRT as the full or partial beneficiary of retirement funds held in your 401(k), 403(b) or other IRA account. No minimum contribution is required and the estate may receive a tax deduction.

Charitable Gift Annuity 

An irrevocable gift is made in benefit of the IRT. You and up to one other person are paid a guaranteed fixed sum from that gift throughout your life. Any remaining funds at the time of your passing are donated to the IRT. A minimum contribution of $25,000 is required, and you can receive substantial tax deductibility.

Charitable Remainder Trust 

An irrevocable gift is made to establish a trust, with lifetime income paid to the trust’s named beneficiaries. At the end of the trust term, any remaining funds are passed to the IRT. Income paid annually can be a fixed sum, or a fixed percentage of your trust’s market value. A minimum contribution of $500,000 is required, and this type of gift reduces the size of your estate for tax purposes.

Charitable Lead Trust

A charitable trust is established which distributes annual income to the IRT for a set period of time or for the duration of your lifetime. At the end of that period, the assets then return to you or your surviving family members. The annual payment to the IRT can be a fixed sum or a fixed percentage of the trust’s market value. A minimum contribution of $500,000 is required, and this type of gift may decrease taxable estate.