Planned Giving

Named after the wise and benevolent magician in William Shakespeare's The Tempest, The Prospero Society recognizes those who have provided for A.C.T. in their estate plans. Lifetime membership is extended to individuals who support A.C.T. through a bequest by will or living trust, or through other planned gifts that provide income for life and tax benefits to the donor.

Your planned gift will have a profound effect on A.C.T.'s future. It may be used to:

  • Support productions at the American Conservatory Theater
  • Encourage innovative productions and new translations of classical work
  • Support the creation of new plays and musicals
  • Enhance the A.C.T. Conservatory by providing first-class professional actor training through student scholarships and endowed chairs
  • Build younger and more diverse audiences for A.C.T. by providing subsidized tickets to schools and community groups.


For information about supporting A.C.T. through a bequest or to discuss how you would like your planned gift allocated, please contact Tiffany Redmon at tredmon@act-sf.org or 415.439.2482.

 

Frequently Asked Questions Regarding Planned Giving

 

Why does A.C.T. need planned gifts?

Maintaining A.C.T.'s long-term financial stability and leadership demands that a substantial portion of A.C.T's annual budget come from endowment income. Planned gifts build endowments. Large endowments are essential for the success of any large arts organization, and A.C.T. particularly needs a strong endowment to support its artistic mission: "to conserve, renew, and reinvent the rich theatrical literature and traditions that are our collective legacy, while exploring new artistic forms and communities." Bequests, charitable trusts, and other planned gifts allow donors to provide generous future gifts from their estate to support A.C.T.'s core mission without disturbing their financial situation during their lifetime.

 

How do I include A.C.T. in my will or living trust?

The most common way people remember A.C.T. in a will or living trust is with a charitable bequest. You do not have to rewrite your current documents. You simply add an amendment, called a codicil, to your will or living trust. Here is some suggested language you can have your attorney review:

"I give and bequeath to American Conservatory Theater Foundation, tax identification number 94-6135772, located in San Francisco, California, $_________" (or state a percentage of your estate, or describe real or personal property, including exact location).

Your bequest is entirely under your control during life and becomes irrevocable only at death.

 

What should I do if I have remembered A.C.T. in my estate plan?

We would be honored to enroll you in A.C.T.'s Prospero Society. Prospero Society membership includes invitations to special A.C.T. events and, if you will allow us, the listing of your name on the Prospero Society membership roster. Contact Tiffany Redmon at tredmon@act-sf.org or 415.439.2482 for more information.

 

What is the advantage of making A.C.T. a beneficiary of my retirement plan?

A designation in your IRA or other retirement plan may be a very cost-effective way of making a gift to A.C.T. If you leave your retirement plan to your children, they will have to pay income tax on either a lump sum distribution or the income stream from the plan. A.C.T. does not pay this tax. Here is an example of what this can mean to your heirs:

A widower died a few years ago. He left his $300,000 house to charity and his $300,000 retirement plan to his relatives. He should have done just the opposite. The relatives had to pay income tax on the $300,000 in the retirement plan, an $80,000 cost to them. If they had received the home, and the charity had received the retirement plan payment, no one would have paid income tax.

 

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