Planned Giving

Imagine a legacy in support of artists who will change the world for years to come. Estate planning is a meaningful and prudent way to impact the future of SFAI.

This type of charitable gift allows you to:

• Make a larger gift than you thought possible
• Plan for the financial needs of a spouse or loved one
• Provide inheritances for your heirs at a reduced tax cost
• Receive income from your personal residence or farm

The most frequently made planned gifts are bequests, but gifts can also include donated assets such as stocks, real estate, art pieces, or business interests. There are several ways to support SFAI after your lifetime:

Bequest

A bequest is the simplest type of planned gift. You may designate a specific dollar amount, percentage of your total estate, or a residual amount remaining after all specific bequests and expenses have been paid. Your bequest will also qualify for a charitable deduction.

Sample Bequest Language: Please feel free to use this complimentary bequest language when working with your attorney or estate planner.

Unrestricted Bequest:

I give [__ percent of my estate, or description of asset, or ____ dollars] to the San Francisco Art Institute, a California nonprofit corporation, for its general use.

Restricted Bequest:

I give [__ percent of my estate, or ___ dollars, or description of asset] to the San Francisco Art Institute, a California nonprofit corporation, for the restricted purpose of _______. If, in the future, the Board of Trustees of the Institute determines that the restriction placed herein would result in an impracticable use of the bequest, it may designate another purpose for its use that most nearly accomplishes my wishes.

Real Property

Gifts may be made of land, buildings, artwork, residences, and commercial property.

• Real Life Estate: Under this plan, you can transfer ownership of real estate while retaining the right to live in the residence and/or use the property for the remainder of your life. While you retain this right, you continue to be responsible for routine expenses associated with maintaining the property, such as insurance and property taxes. An income tax deduction is available for a portion of the value of the real estate.
   

Beneficiary Designations

Naming SFAI as beneficiary of retirement plans, life insurance policies, and transfer-on-death accounts allows you control of the funds during your life and provides a probate-free transfer of assets. This type of estate gift can lessen both income and estate taxes.

• Retirement Accounts: You can designate SFAI as the primary beneficiary of your retirement account, or it can be transferred to a deferred giving arrangement that will pay an income for life to a family member, after which the remaining assets pass to SFAI. Various taxes owed on a retirement account can be avoided if the assets from your retirement plan pass to a nonprofit organization.

• Life Insurance: You can designate SFAI as a beneficiary to your life insurance. You may also transfer ownership of a policy to SFAI, which in many cases allows for an income tax deduction.

Life Income Gifts

A life income gift enables you to make a significant contribution while protecting, or improving, your personal financial situation. In exchange for the transfer of assets, you (or a designated beneficiary) will receive income for life or a term of years, an immediate income tax deduction, and the potential for reduced estate taxes.           

Securities

You can transfer ownership of appreciated securities such as stocks, mutual fund shares, and bonds to SFAI.

For confidential information on how to make your legacy commitment, please contact the Advancement Office at advancement@sfai.edu or 415-749-4577, or write to:

Planned Giving, Development Office
San Francisco Art Institute
800 Chestnut Street
San Francisco, CA 94133-2206

The material presented on this website is not offered as legal or tax advice. Always consult with your financial advisor and/or your estate-planning attorney before making decisions based on the information we provide. San Francisco Art Institute is a 501(c)(3) tax-exemption organization (EIN#: 94-1196211). In accordance with IRS regulations, contributions are fully deductible to the extent allowed by law.