Join the Encore Society
The Lake Placid Sinfonietta’s Legacy Giving Society
The Lake Placid Sinfonietta has been bringing world-class music to the Adirondacks for over a century. As you consider your philanthropic activities, we invite you to join the Encore Society, our legacy giving community. Members ensure that the joy of live music continues for future audiences and musicians alike!
Why Join
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Sustain the Sinfonietta’s mission for generations to come.
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Celebrate your love of music with special recognition opportunities, including our Annual Report and Season Program Booklet. Recognition is optional and may be anonymous at the donor’s request.
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Join this dedicated group of Sinfonietta patrons for an intimate gathering in the summer.
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Leave a personal, enduring mark on the cultural life of the Adirondacks.
Ways to Give
Gifts of all sizes can be made as a legacy gift and there are a variety of ways available. You can name a fixed dollar amount, a percentage, or remainder of your assets or investments as desired. In most circumstances, you can also list the Sinfonietta as a primary or contingent beneficiary, making options flexible for you depending on your personal wishes.
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A primary beneficiary receives the funds directly upon your passing.
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A contingent beneficiary receives the funds if the primary is unavailable.
If the Sinfonietta (or another qualified nonprofit organization) is named as a beneficiary in your estate plans, assets designated to the nonprofit may qualify for a charitable estate tax deduction under federal law. Individual tax circumstances vary, so we encourage you to consult your professional advisors.
Types of Legacy Gifts
Include the Sinfonietta in Your Will
You can designate the Lake Placid Sinfonietta as a recipient in your estate plans by contacting your attorney or financial advisor. Gifts can include cash, securities, real estate, privately held stock, physical property, or other financial assets discussed below.
Why It’s Valuable: This allows you a flexible way to set aside a specific portion or the entirety of an asset towards sustaining the Sinfonietta.
Gifts from Retirement Accounts
While still having access to these funds during your lifetime, you may choose to name the Sinfonietta as a beneficiary of your IRA, 401(k), or 403(b) by contacting your retirement plan administrator.
Why It’s Valuable: It allows you to make a significant gift even if other assets such as real estate, stock, or property are already allocated elsewhere in your will.
Life Insurance Contributions
You can support the Lake Placid Sinfonietta by naming the organization as the beneficiary of a new or existing life insurance policy. You may also choose to transfer ownership of a policy you no longer need, subject to consultation with your insurance provider and financial advisor.
Why It’s Valuable: Use a life insurance to create a meaningful, sometimes larger gift than cash on hand, without affecting your funds today.
Charitable Trusts
A Charitable Remainder Trust (CRT) allows you or other beneficiaries to receive income for a set period, after which the remaining assets are donated to the Sinfonietta. A Charitable Lead Trust (CLT) works in reverse, providing gifts to the Sinfonietta during a specific term, with the remainder passing to your heirs. These tools can be customized with the guidance of your attorney or financial advisors.
Why It’s Valuable: These arrangements can provide ongoing income to your heirs or the Sinfonietta for a set period, combining philanthropy with strategic timing that other gift options may not offer.
Establishing a Fund with the Adirondack Community Foundation
Donors may also establish a fund with the Adirondack Community Foundation, where the Sinfonietta currently maintains accounts. This allows donors many of the options provided above, as well as tangible resources, streamlined administration, and the offloading of much of the process of establishing legacy gifts.
Why It’s Valuable: Using a community foundation like the Adirondack Community Foundation makes giving easier by handling administrative and legal details, allowing donors to focus on their philanthropic goals. It also provides flexibility, professional oversight, and the option to support multiple causes, including the Sinfonietta, through a single fund.
The Lake Placid Sinfonietta does not provide legal, tax, or financial advice.
Donors should consult their professional advisors to determine the best giving strategy for their individual circumstances.
How to Learn More & Next Steps
We would be delighted to talk with you about the many ways to leave a lasting impact through the Encore Society. Please contact our Executive Director, Emily Dobmeier, who can assist in answering your questions or provide resources on options that fit your goals.
Email: edobmeier@lakeplacidsinfonietta.org
Phone: (518)523-2051
Other Resources
Sample Bequest Language provided by Adirondack Community Foundation