The Dayton Performing Arts Alliance encourages you to consult with your tax and legal advisors when considering any planned gift to benefit DPAA. The sample language below may help you and your advisor craft a bequest that reflects your wishes.
Planned Giving
Specific Amount or Asset
“I bequeath the sum of $________ [or specific stock, mutual fund, or bonds] to the Dayton Performing Arts Alliance, an Ohio not-for-profit 501(c)(3) tax-exempt corporation having a principal place of business in Dayton, Ohio, to be used for its general purposes.”
Residuary Bequest
You can leave all or a percentage of your estate after all other terms of the will have been satisfied to Dayton Performing Arts Alliance:
“I bequeath ___ percent (or all) of the residue of my estate to Dayton Performing Arts Alliance, an Ohio not-for-profit, 501(c)(3) tax-exempt corporation having a principal place of business in Dayton, Ohio, to be used for its general purposes.”
Unrestricted Bequests
The performing arts are dynamic, and Dayton Performing Arts Alliance is constantly evolving to meet new challenges. Many supporters choose to make unrestricted bequests that enable DPAA to meet emerging needs. A bequest that is designated for general purposes can be used to support educational programs, sponsor an emerging new performer’s appearance, buy essential software and computers, or support a specific art form that is your passion: Ballet, Opera, or the Philharmonic.
Restricted Bequests
You can designate your bequest for a specific purpose. Below, please find the suggested language for a restricted bequest.
“I devise and bequeath [[specify the dollar amount, percentage of the estate, residue of estate, real estate]] to Dayton Performing Arts Alliance, an Ohio not-for-profit, 501(c)(3) tax-exempt corporation having a principal place of business in Dayton, Ohio, to be used for the following purpose: [state the purpose.] If at any time, in the judgment of the trustees of DPAA, it is impossible or impracticable to carry out the designated purpose, they shall determine an alternative purpose as near as possible to the designated purpose.”
It is an obligation of the Dayton Performing Arts Alliance to ensure that the funds are used as designated by the donor; however, we include the final line in the paragraph above to give the organization some flexibility in the unlikely event that the gift can no longer be applied as originally intended due to changes in the organization over time.
Restricted by Art Form:
“I bequeath the sum of $________ [or specific stock, mutual fund, or bonds] to Dayton Performing Arts Alliance, an Ohio not-for-profit 501(c)(3) tax-exempt corporation having a principal place of business in Dayton, Ohio, to be used for purposes of advancing [Dayton Ballet, Dayton Opera, Dayton Philharmonic, or DPAA Education Programs].”