Gift Planning
Make the Arts Your Legacy
ArtsWave is the Greater Cincinnati region's local arts agency and the nation's first and largest community campaign for the arts. We believe the arts — music, dance, theater, museums, festivals, and more — create a vibrant regional economy and a more connected community. With the help of tens of thousands of donors, ArtsWave supports more than 100 arts and community organizations that make our region an amazing place to live.
The arts are an indispensable part of the community. To ensure the arts were supported in perpetuity, Mr. and Mrs. Charles P. and Anna Sinton Taft founded the Cincinnati Institute of Fine Arts in 1927. The Tafts believed that Cincinnati could truly distinguish itself through its arts and cultural assets. They offered a $1 million endowment if the community could match it with $2.5 million. The community responded, and the endowment was created.
Now, ArtsWave’s annual community campaign and endowment continues the legacy upon which the organization was founded. Strong funding has allowed Cincinnati’s arts and cultural scene to become a national draw and regional asset, creating a ripple effect of economic and community benefits.
Types of Gifts
If you believe in the fundamental value and impact of the arts, including ArtsWave in your will or trust is a powerful way to ensure that Cincinnati remains among the nation’s most culturally vibrant communities. There are several easy ways to make a meaningful gift that not only makes Greater Cincinnati amazing, but could help you, your estate, and your heirs.
Gifts by Bequest
A bequest is perhaps the easiest and most flexible way to have a lasting impact on ArtsWave. You can name us as a beneficiary in your will or living trust, designate a gift of a specific dollar amount, give a particular asset, a percentage of your estate, or the remainder of your estate once all of your other bequests have been fulfilled. With a bequest you maintain complete control of your assets during your life, and can save income taxes, capital gains taxes, and estate taxes.
Beneficiary Designations
You can name ArtsWave the beneficiary of many of your financial resources. It can be as simple as making ArtsWave a full or partial beneficiary of these accounts. In most cases all you need is to complete a revised beneficiary designation form with the company holding your assets. These can include your IRA, 401(k) and other retirement plans, bank accounts, commercial annuities, life insurance policies, and other assets. A beneficiary designation can reduce income taxes and possibly estate taxes for your loved ones.
Life Income Gifts
Your gift to ArtsWave can be designed to pay you income for life. A life income gift can produce benefits for you and ArtsWave at the same time. In exchange for your gift, we agree to pay you a fixed payment for life. Whatever is left will benefit ArtsWave. This type of gift is particularly attractive because you often can reduce taxes, increase your spendable income and, at the same time, make a gift that will have a substantial impact on the future of ArtsWave. You benefit now and we benefit later.
Make A Gift From Your IRA | Qualified Charitable Distribution (QCD)
If you are 70 1⁄2 or older and have an IRA, there is a tax-wise way to make a current gift to ArtsWave and reduce your taxes at the same time. You can ask your IRA administrator to make a gift of up to $100,000 per year directly to ArtsWave. Only traditional and Roth IRAs are eligible for this type of gift. The distribution to ArtsWave will help satisfy your required minimum distribution (for those 72 and older) and reduce your taxable income.
Want to Know More?
Please contact Karen Ecker, Director, Legacy Gift Planning, at karen.ecker@artswave.org or 513.632.0106.
Notify Us
If you have included ArtsWave in your estate plans, please let us know. We would like to make sure the purpose of your gift is understood, thank you for your generosity, and recognize you as a legacy donor.
Information for Estate Attorneys and Administrators
Our legal name is Cincinnati Institute of Fine Arts.
We are formerly known as the Fine Arts Fund.
Our tax ID number is 31-0537138.
Our address and contact information for estates and trusts is:
Karen Ecker
ArtsWave
20 East Central Parkway, Suite 200
Cincinnati, OH 45202
513.632.0106