THE SHARON AND DALLAS DORT FUND
FOR KERRYTOWN CONCERT HOUSE
Earlier this year, KCH learned that a new fund had been established for the organization: The Sharon and Dallas Dort Fund for Kerrytown Concert House, an endowment through the Ann Arbor Area Community Foundation. We feel incredibly humbled by Dallas and Sharon’s generosity, amazed that others will also have an opportunity to contribute to this fund, and lucky that our organization will benefit from this endowment for years to come. When asked about their decision to establish it, Dallas wrote:
“Loving the House as we do, it was natural to do something to help ensure that it would always be here. It makes us feel good to know we’re going to be a part of it long after we’re gone.”
Thank you from the bottom of our hearts, Dallas and Sharon! You are fierce KCH advocates, and we’re so happy to have you on our side!
How can I help the endowment grow?
Should I donate to the endowment or should I donate to KCH’s general fund?
Your yearly contribution to KCH’s general fund supports the everyday running of the organization. We use the current year’s contribution levels to plan next year’s budget. In order to ensure the continued ability to present the same world-class performances you’ve come to expect from KCH, contributions to an endowment should not be thought of as a replacement for a yearly gift to the general fund, but can be planned as an additional gift or as a legacy gift.
To donate to KCH’s general fund, click here. Read on for options on how to contribute to the endowment with a legacy gift.
What are my giving options to the Sharon & Dallas Dort Fund for Kerrytown Concert House beyond cash?
Securities: The gift qualifies for a tax deduction based on the stock’s full market value of your stock; plus, if the stock has appreciated in value, you avoid the capital gains tax that would otherwise arise from the sale of this stock.
Qualified Charitable Distribution (QCD) for donors age 70 1/2 or older: You can make a gift from your IRA to the Kerrytown Fund, up to $100K annually. This counts toward your required minimum distribution (RMD) and is not included in your adjusted gross income, a tax benefit that survives even if you don’t itemize. You simply provide our EIN number to your IRA provider, who must issue payment directly to the charity.
Bequests: Bequests can be made by will or a revocable trust and can be a specific dollar amount, a percentage of your estate, or what remains after other bequests are made. Bequest gifts can be directed to the endowment fund or even to create a new named fund within it!
Charitable Gift Annuities (CGAs): A contract (that does not require an attorney) between a donor and AAACF. In exchange for a tax-deductible gift of cash or securities, the foundation agrees to make fixed payments (a portion of which is likely tax-free) to the donor for the remainder of his or her life. Payouts are based on age and national annuity tables designed to have half of the original gift remaining for Kerrytown. A CGA can start with a $10,000 gift.
Gifts of Retirement Plan Assets: If you pass on retirement plans to family members, they will be taxed heavily and will not see the full assets you intend for them. Financial advisors often recommend bequeathing to your family other assets (such as cash or securities) and leaving your retirement plan (such as an IRA, 401K, or Keough) to charity. It is easy to do—simply name AAACF-Kerrytown as the beneficiary on your retirement plan vendor’s beneficiary form!
Are you considering a legacy gift or would you like to learn more about contributing to The Sharon and Dallas Dort Fund for Kerrytown Concert House?
Please contact Kelly King, Development & Administrative Manager
Phone: (734) 769-2999