Create Your Legacy For Future Generations
Estate planning is a wonderful way to accomplish your financial goals while supporting the innovative art education and community programs at SFAI. Including the San Francisco Art Institute in your estate planning may grant you significant tax and financial benefits. You will also have the satisfaction of knowing your gift has made a lasting contribution to future SFAI students.
Many people want to make charitable gifts but need to do so in a way that meets other personal, familial, or financial needs. Planned gifts may allow you to:
- Make a larger charitable gift than you thought possible
- Plan for the financial needs of a spouse or loved one
- Provide inheritances for your heirs at a reduced tax cost
- Receive income from your personal residence or farm
Planned gifts are often thought of as something done later in life, but you can begin planning at any age. The most frequently made planned gifts are bequests, but gifts can also include donated assets such as stocks, real estate, art pieces, or business interests. There are several ways to support SFAI after your lifetime:
A bequest is the simplest way of benefiting SFAI with a planned gift. You may designate a specific dollar amount, percentage of your total estate, or a residual amount remaining after all specific bequests and expenses have been paid. Your bequest will also qualify for a charitable deduction.
Gifts may be made of land, buildings, artwork, residences, and commercial property.
- Real Life Estate: Under this plan, you can transfer ownership of real estate while retaining the right to live in the residence and/or use the property for the remainder of your life. (While you retain this right, you continue to be responsible for routine expenses associated with maintaining the property, such as insurance and property taxes.) An income tax deduction is available for a portion of the value of the real estate.
Naming SFAI as beneficiary of retirement plans, life insurance policies, and transfer-on-death accounts allows you control of the funds during your life and provides a probate-free transfer of assets. This type of estate gift can lessen both income and estate taxes.
- Retirement Accounts: You can designate SFAI as the primary beneficiary of your retirement account, or it can be transferred to a deferred giving arrangement that will pay an income for life to a family member, after which the remaining assets pass to SFAI. Various taxes owed on a retirement account can be avoided if the assets from your retirement plan pass to a nonprofit organization.
- Life Insurance: You can designate SFAI as a beneficiary to your life insurance. You may also transfer ownership of a policy to SFAI, which in many cases allows for an income tax deduction.
Life Income Gifts
A life income gift enables you to make a significant contribution while protecting, or improving, your personal financial situation. In exchange for the transfer of assets, you (or a designated beneficiary) will receive income for life or a term of years, an immediate income tax deduction, and the potential for reduced estate taxes.
You can transfer ownership of appreciated securities such as stocks, mutual fund shares, and bonds to SFAI.
For confidential information on how to make your legacy commitment, please contact Cynthia Colebrook, Interim Vice President for Development and Alumni Relations, by phone at 415.749.4522 or by email at firstname.lastname@example.org.
Or write to
Office of Development and Alumni Relations
San Francisco Art Institute
800 Chestnut Street
San Francisco, CA 94133-2206
Always consult with your financial advisor and/or your estate-planning attorney before making decisions based on the information we provide.
SAN FRANCISCO ART INSTITUTE LEGACY SOCIETY
Donors who indicate they have included SFAI in a deferred gift or bequest are members of the San Francisco Art Institute Legacy Society. Such commitments may be of any amount and may be directed to support programs of the donor’s choice. Donors are encouraged to consider designations that provide as much flexibility as possible to help SFAI meet the needs of the future. Membership benefits in the SFAI Legacy Society include an annual luncheon where members may tour the campus and meet with faculty and students; the opportunity to attend a variety of exclusive events; and special recognition in SFAI publications.
FOR PROFESSIONAL ADVISORS
The San Francisco Art Institute welcomes the opportunity to assist you as you incorporate your clients’ philanthropic goals into estate plans. Please feel free to contact us.
Legal Name: The San Francisco Art Institute
Tax I.D. Number 94-1196211