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If you would like to provide significant support to New York City Ballet and have little immediate need for additional income, consider establishing a charitable lead trust.

A charitable lead trust allows you to provide income to New York City Ballet during the term of the trust and at the end of the trust term, the remaining property returns to you or passes to someone you have designated at reduced or no tax cost. You can choose to establish a Charitable Lead Annuity Trust (CLAT), which will pay a fixed amount to New York City Ballet for a period of years. Or, you can choose to establish a Charitable Lead Unitrust (CLUT), which will pay a variable amount to New York City Ballet for a period of years.

How it works

You contribute securities or other appreciating assets to a charitable lead trust. The trust makes fixed or variable annual payments to New York City Ballet for a period of years that you determine. When the trust terminates, the remaining principal is distributed one of two ways:

  • Non-Grantor Lead Trust – This type of lead trust allows you to pass assets to your heirs at reduced or no tax cost. Although you do not receive a charitable deduction, you do receive a gift tax deduction.

  • Grantor Lead Trust – This type of lead trust allows you to receive a significant charitable deduction, without having to permanently part with a valuable asset. You also receive a significant, immediate income tax charitable deduction equal to the present value of the total income payments to New York City Ballet.

For more information about how a charitable lead trust would benefit you, or to learn more about the Serenade Society and the different ways you can support New York City Ballet through gift planning, please contact Faith Petrides in the Planned Giving Office at 212-870-5686 or email fpetrides@nycballet.com. All inquiries are confidential.

This information is not intended to represent legal or tax advice or to substitute for such advice. We urge you to consult your professional advisors when considering your charitable gift planning options.