There are many ways to give to Erie’s premier community theatre, the Erie Playhouse. Here are some of the most common methods that donors choose. Please consult your financial, tax or estate planner to help you choose the method that is right for you.
Thank you to our donors.
If you don't wish to donate online, please print out the form below and send it to:
13 West 10th Street
Erie, PA 16501
Or contact Kate Neubert-Lechner at firstname.lastname@example.org or 814-454-2852, x 7 for more information.Donate Now
Cash is the easiest way to contribute, whether by check or credit card. Donors who make gifts of cash may be eligible for a charitable deduction in the year the gift was made.
If you are thinking of making the Erie Playhouse part of your estate planning, please consider the Elisha H. Mack Community Bequest Society. The Elisha H. Mack Community Bequest Society of the Erie Community Foundation recognizes donors who have chosen to support nonprofit organizations in their estate planning, whether it be through bequest, trust, life insurance, gift annuity, or other planned vehicles. For more details, please contact Susannah Weis Frigon at 814-454-0843 or Kate Neubert-Lechner at 814-454-2852, ext. 8.
The Erie Playhouse would like to thank the following companies for supporting our innovative Educational Improvement Tax Credit program: Erie Insurance, Eriez Manufacturing Co., MacDonald Illig Jones & Britton LLP, Organ Supply Industries, PNC Financial Services Group, Scott Enterprises, and Urban Engineers of Erie.
The Erie Playhouse is excited to announce its eligibility in the Pennsylvania Educational Improvement Tax Credit program (EITC). Through this program, your tax-deductible contribution to the Erie Playhouse will also generate a tax credit to be used against your Pennsylvania corporate taxes. In effect, your business can send your eligible tax dollars directly to the Erie Playhouse, where every dollar will be used toward high-quality performing arts opportunities for students. If your business is a "C" or "S" corporation, you can earn a 90% tax credit if you participate for two consecutive years or a 75% tax credit if you participate for one year. Please contact Teri Marshall, in Development at 814-454-2852 ext. 5 for more details.
Most publicly traded stocks may be donated to the Erie Playhouse as a charitable gift. Donors may be eligible for a tax deduction for the fair market value of the appreciated stock. By donating appreciated stock to the Erie Playhouse, you may be able to avoid capital gains taxes that would otherwise follow the sale of the stock.
A bequest is the most common form of planned giving. By including a charitable contribution in your Will, you are able to make a gift that is simple and, in many cases, larger than you could make during your lifetime. The bequest can take the form of a specific item (such as a home), a specific amount of money, or may serve as a residual bequest, where the remainder of a donor's assets become a gift after all other specific bequests have been paid out. Gifts made to charity by bequest may be deductible from the donor's federal estate.
Donors may be able to use assets held in an individual retirement account (IRA) or similar account to make a gift to the Erie Playhouse at the time of their death. While very attractive from a tax standpoint during a donor’s lifetime, these retirement programs can be heavily taxed assets at death.
Great caution should be exercised when making gifting decisions relative to IRAs and other types of pensions due to how severely these assets may be taxed at death. Always consult legal and tax councel prior to making gifting decisions associated with IRAs and other qualified plans.
Donors may make tax advantaged gifts of life insurance to the Erie Playhouse in several ways. For example, a donor may make a gift of a life insurance policy by irrevocably designating the Erie Playhouse as the owner and beneficiary of the policy. Alternately, a donor may designate the Erie Playhouse as a percentage beneficiary of a life insurance policy owned by the donor.
Each method has different tax consequences. Donors should determine the best method for them in consultation with their financial advisors.
Charitable Remainder Trusts allow you to transfer assets to a trust, take an immediate tax deduction and receive an income for your lifetime. The size of the deduction varies with the age of the income beneficiaries. Charitable Remainder Trusts are used to guarantee a retirement income while making a significant charitable gift.
Charitable Remainder Trusts can be complex gifting strategies. However, they are an extremely effective tool for diversifying a highly appreciate security, obtaining an enhanced income from the gifted asset for life and permanently removing the remainder interest from the taxable estate of the donor.
Gifts made to Charitable Remainder Trusts are irrevocable; consequently, donors should carefully evaluate this strategy with tax and legal counsel prior to moving forward.
Charitable Gift Annuities allow a donor to make a substantial gift to a non-profit while retaining the right to a life income. In the case of Charitable Gift Annuities, that income is a fixed amount based on tables published by the American Council on Gift Annuities. These tables are designed with the donor’s life expectancy in mind.
A donor may also elect to defer the receipt of the income for one or more years, which will increase the ultimate payout. This is known as a Deferred Gift Annuity and is often used as a supplemental retirement plan for individuals who have already contributed the maximum amount to their qualified plan.
The Erie Playhouse has a partnership program with the Erie Community Foundation that allows the Playhouse to offer Charitable Gift Annuities.
Although there are many powerful tools available to prospective donors and friends of the Erie Playhouse that may allow for significant current and deferred gifts, great care must be exercised prior to implementing any of these tools. Always work closely with your financial advisor, attorney and tax professional prior to making a planned or deferred gift to any charity or non-profit organization. If you would like to learn more about these tools, please contact the Erie Playhouse development office at 814-454-2852 ext.8 or Kate Neubert-Lechner.