Gifts That Reduce Your Taxes

Cash is the simplest asset to donate and the quickest way to make an immediate impact for the Baltimore Symphony Orchestra. If you want to further our work today and claim the entire amount of your gift as a charitable income tax deduction, consider a gift of cash. Make your gift online, via a check or money order, or with a wire transfer.

When you give stock or securities (stock, bonds, mutual funds), you may be eligible for a double tax benefit: 1) You receive an income tax deduction for the full, present, fair market value of the assets and 2) you may completely avoid capital gains tax on the appreciation of the assets. This is one of the easiest gifts to give and one of the most useful in accomplishing your philanthropic goals. 

When you redeem savings bonds, you will owe income tax on the appreciation. So will the person who inherits them. You can eliminate the income tax on bonds you plan to redeem by donating them to the Baltimore Symphony Orchestra. Because the BSO is tax-exempt, 100 percent of your gift of savings bonds will go to supporting our shared mission to uplift the highest quality symphonic music of all eras that nurtures the human spirit.

A gift of your retirement assets, such as an employee retirement plan, IRA, or tax-sheltered annuity, is an excellent way to make a gift. A gift of these assets can shield you or your heirs from taxes while funding the Baltimore Symphony Orchestra.

Transfer ownership now:

To make an impact on our mission today, irrevocably designate the Baltimore Symphony Orchestra as owner and beneficiary of an existing life insurance policy. If your policy is paid up, you will receive an immediate income tax deduction based on the policy value.

If your policy is not yet paid up, you will make contributions of cash to the BSO to cover future premium payments. For any continuing premium payments you make, you will receive a charitable deduction in the year of the payment.

Name us as a beneficiary:

You can name the Baltimore Symphony Orchestra as a beneficiary of all or a portion of your life insurance policy. With this gift arrangement, the BSO will receive the proceeds of your policy when you pass away. You can change your beneficiary at any time and may reduce your estate taxes.

This gift is easy to arrange — simply request a beneficiary designation form from your plan administrator.

A gift of artwork, coins, antiques, or other personal property can be an excellent way to support the Baltimore Symphony Orchestra. The tax benefits of the gift depend on whether the BSO can use the property in a way that is related to its mission. Contact us to learn more about this type of gift — we would be happy to help you find the option that best fits your philanthropic goals.