The Young Concert Artists Legacy Society
YOUR LEGACY OF MUSIC
Planned gifts play an extraordinary role in ensuring the vibrancy of Young Concert Artists and the young musicians who infuse the music world with excitement and new energy. Planned gifts can also provide tax advantages. By naming Young Concert Artists, Inc. as a beneficiary in your Will, Trust, retirement account, donor advised fund or life insurance, you receive the satisfaction of contributing to the future of YCA and the music you love.
THE YOUNG CONCERT ARTISTS’ LEGACY SOCIETY
We are deeply grateful to all of the members of our Legacy Society – in particular YCA Board members Esther Ferguson and Sheldon Soffer who have generously secured their dreams for YCA with their bequests.
If you intend to make plans or have already made plans for YCA in your Trust or Will or by designating YCA as a beneficiary of your life insurance or retirement account, we would be honored to recognize you as a member of our Legacy Society and keep you informed of YCA events throughout the year. Please let your intentions be known. Call or email Ms. Hanyi Meng at firstname.lastname@example.org or (917) 265-8366.
A bequest is a written statement in a donor’s Trust or Will directing that specific assets, a specific dollar amount, or a percentage of the estate, be transferred to Young Concert Artists, Inc. at the time of the donor’s death. Bequests become part of the Young Concert Artists Endowment Fund, which is the most important source of support for all of our activities and special programs. This is an easy way to make a planned gift and confirm your legacy to YCA.
An example of a bequest to YCA would be, “I give to Young Concert Artists, Inc., now having its principal offices at 1776 Broadway, Suite 1500, New York, NY 10019 [a percentage of the estate or specific dollar amount] to be used for its general support and charitable purposes without restriction.”
PUBLICLY TRADED STOCK
The most common type of non-cash gift or bequest is a publicly traded stock. These gifts – which help YCA because of their high liquidity – will be sold and the proceeds held in our endowment fund. A gift of appreciated securities during your lifetime has especially desirable Income Tax advantages. A bequest of stock will result in a charitable deduction to your estate for Estate Tax purposes.
STOCK TRANSFER INSTRUCTIONS
For assistance with any Stock Transfer Instructions transaction, please call Ms. Hanyi Meng in our Development Office at 917-265-8366.
LIFE INSURANCE AND OTHER GIFTS
It is possible to support YCA through gifts of life insurance either by:
– Naming Young Concert Artists, Inc. as the beneficiary, in whole or in part, of an existing policy or as a contingent beneficiary, or
– Cashing in a policy and donating all or part of the cash value to YCA.
It is also possible to make gifts and bequests to Young Concert Artists, Inc. through Charitable Remainder Trusts, Charitable Lead Trusts and retirement plans, such as 401 (k)s and IRAs.
Please note: It is important that you consult with your attorney, tax advisor or financial advisor before making a decision to include YCA in your estate plans. This information is prepared for informational purposes only. Young Concert Artists cannot provide any type of tax or legal advice.
It has been my great pleasure to serve on the Board of Directors of Young Concert Artists for over forty years. Helping musicians be the best that they can be in the early stages of their careers is tremendously fulfilling. The experience has changed my life forever.
Several years ago I became acutely concerned about our need to draw more than the recommended 5% from our endowment each year. I wanted to find a way to help ensure a healthy future for the important work we do.
Realizing that this was my chance to make a real difference, I decided to bequest one million dollars to Young Concert Artists in my Will. I then submitted a copy of the document for the office files as proof. I hope my decision will inspire you to do something similar for this time-honored organization.
I should also say that I am proud of the work I did to help start the YCA Alumni Association. As we shine the light on our myriad success stories, we are assured that our investment in these young people is more than worthwhile.
After sixty years of accomplishment, YCA deserves a bright future. Please join me and support all that classical music can and will be in the years to come.
A Message from Sheldon Soffer, Chair of Young Concert Artists’ Legacy Society
When I created the Sheldon Soffer Fund for New Music, I did so with the aim of commissioning our YCA composers to leave a work for posterity to be performed not only by our present YCA artists but future artists. Such a legacy would be a historic one as it will be a unique gift to audiences and artists FOREVER.
As part of the impact I’d like to have on YCA, I am making a bequest to increase the current endowment of the Sheldon Soffer Fund for New Music. The YCA Composer program has been so successful, and the music they write for our YCA artists will live in perpetuity.
For YCA, legacy gifts both large and small will allow our beloved art form to flourish.
I hope you will consider this note and begin thinking about what legacy gift you might plan for Young Concert Artists, which will help future generations of young musicians and composers, and inspire listeners the world over.