Gifts to our endowment underwrite permanent fellowships at Vermont Studio Center. Contributors to endowed fellowships may name the fellowship; they are often named in honor of a friend, artist, mentor, or relative. These legacy gifts mean you are supporting artists and writers for years to come.
The cost of an endowed fellowship is $200,000. This may be paid with a one time gift, yearly installments of $100,000 over two years, or $50,000 pledged over four years. Gifts for endowed fellowships may also be made through planned giving (see below).
Annual Fellowship Fund
A donation of $5,000 a year provides a VSC Fellowship for an artist or writer in the year it is made. This level of support may be renewed annually. Donors who commit to 3 years of more may name the fellowship.
One of the simplest ways to make a planned gift to Vermont Studio Center is through a bequest in your will setting aside a portion of your estate. To make a bequest, include a provision in your will designating a fixed amount of assets or percentage of your residuary estate to Vermont Center. Bequests are fully deductible from your taxable estate and can therefore represent significant tax savings.
Here is sample language you may wish to use: “I give, devise and bequeath ____ (describe dollar amount, property to be transferred or percentage of your residuary estate) to Vermont Center, a not-for-profit 501( c )(3) organization. (Federal ID # 22-2478074), located at 80 Pearl Street, Johnson, VT 05656 for its general charitable or specific restricted charitable use.”
Bequests & Planned Gifts - The Gihon Society
The Gihon Society recognizes friends of Vermont Studio Center who honor our mission by including VSC in their estate planning. The commitment made by Society members helps to ensure that future generations of fellows will be able to live and work in a community of their peers at Vermont Studio Center. Gihon Society members are recognized in Vermont Studio Center’s named fellowship offerings and permanent facility signage. Donors may also choose to participate anonymously.
OTHER PLANNED GIVING OPTIONS
There are many additional ways you can incorporate Vermont Studio Center into your financial and estate planning. The following options provide estate tax deductions in addition to promoting VSC’s work.
Retirement Plans offer easy and cost-effective ways to make a planned gift. You may make a current donation directly from your plan or name Vermont Studio Center as the recipient of all — or a percentage of — assets that remain in your retirement plan at your death. This designation is handled through the plan’s administers. Bequests of retirement plan assets to Vermont Studio Center may be exempt from both income taxes and estate taxes.
Insurance Policies that are no longer needed for protection of your family can be restructured to name Vermont Studio Center as a partial or full beneficiary. Complete a new beneficiary designation form, which should be available from your insurance agent or directly from the company that issued your policy. Another approach is to irrevocably assign ownership of the policy to Vermont Studio Center by completing a change of ownership form.
Gifts of Real Estate can include homes, condominiums, apartments, second homes, undeveloped land, and rental properties. A gift of this kind can alleviate capital gains taxes, income taxes and brokers fees, while Vermont Studio Center can receive income or generate capital from your gift. Your property may also become a studio or residency location for future writing and visual fellows.
Stock or Securities. You may transfer stock or securities to Vermont Studio Center electronically, by mail or by hand delivery.Please contact Sarah Judd, Development Director, firstname.lastname@example.org, for information on additional giving options.
Charitable Gift Annuities, Charitable Lead Trusts, Charitable Remainder Trusts, and Other Advanced Giving Options.
Vermont Studio Center works in partnership with Vermont Community Foundation to arrange more advanced gift vehicles. Please contact Sarah Judd, Development Director, email@example.com, for information on additional giving options.
Although Vermont Studio Center does not offer tax or legal advice, we would be pleased to assist you and your legal or financial advisors in structuring your gift. We would greatly appreciate it if you would inform us of any arrangements in your will, trust, or other estate plans that support Vermont Studio Center. We will, of course, keep your commitment confidential. Please contact Sarah Judd, Development Director, firstname.lastname@example.org, for information on additional giving options.