Why a Planned Gift to Music Worcester?

Our supporters make dreams come true for music lovers in central Massachusetts. With a planned gift, you are honoring your own, or a loved ones’ connection to Music Worcester. This is another wonderful way to support professional musicians’ performance and educational opportunities in the heart of central Massachusetts.

Music Worcester thanks you for your interest in a planned gift and joining the Legacy Society. Your support will help strengthen the long-term financial stability and provide music and music education for Worcester residents for years to come.

Tax ID#: 04-2171207

There are a few different ways you can make a planned gift to Music Worcester:

• Bequests:
  • Add Music Worcester to your will or revocable trust. You can either leave a specific sum or a percentage that will come out after taxes and other deductions. This can be left to our Annual Fund or a specific endowed fund, such as the Chorus. We recommend restricting the gift as little as possible to ensure it can be used effectively. If you have a specific idea in mind but would like more information on our funds and programs, please contact Kate Rafey, Director of Development.
  • What is a revocable trust? A revocable trust holds assets during your lifetime and transfers the benefits after your death.
  • Potential language for will: 
  "I give and devise (___________________________), without reduction for any tax occasioned by my death, to Music Worcester Inc., a Massachusetts charitable organization, ("MW"), to be used or disposed of as MW in its sole discretion deems appropriate."

  “I give $________ dollars or ________% of all of the residue of my estate to Music Worcester, a Massachusetts charitable corporation, to be used in its sole discretion as Music Worcester deems fit.”

• Retirement Beneficiary:
  • If you have a 401K, 403B, or other qualified retirement fund, you may list Music Worcester as a beneficiary in the paperwork. Simply contact your provider (ex. Fidelity) and ask to add Music Worcester as a beneficiary.

  • Life Insurance Beneficiary:

    • You may also give life insurance to Music Worcester.
    • If you make Music Worcester owner of the policy, you will receive an income tax deduction for the policy's fair market value or cost basis, if lower, on the date of the gift.
    • If you name Music Worcester beneficiary of the policy (and retain ownership), you will receive an estate tax deduction for the insurance proceeds.
      
  • Stock Gifts: You can also leave stock gifts in your legacy plans for MW.
  • Donor Advised Fund:If you are planning on leaving real estate or a similarly complicated asset to Music Worcester, we suggest using a Donor Advised Fund. Using a company such as Fidelity, will work to sell off the asset and return the funds to Music Worcester.
  • Need an attorney? MW can provide you with names of area estate and trust attorneys.

Have you already made Music Worcester a part of your legacy? Let us know: kate@musicworcester.org or 508-754-3231 ext 203.