 Thomas
Schippers, whose life was tragically cut short, was Music
Director from 1970 to 1977. He left us many wonderful
memories, but his legacy is more than musical for he remembered
his adopted city with a substantial personal bequest to
the Cincinnati Symphony Orchestra.
The Cincinnati Symphony Orchestra has a strong endowment
today because past generations of Cincinnatians —
like Thomas Schippers — thought of the future
and provided for the Orchestra in their estate plans and
wills. Without a strong endowment, the CSO could not hope
to achieve the stature it has today as one of the country's
pre-eminent orchestras.
The Thomas Schippers Society recognizes those who contribute
to the tradition of endowment giving exemplified by its
namesake. The Society welcomes as members individuals
who have created a provision in their estate plans to
benefit the Orchestra and have informed the CSO of their
generous intent. Members include those individuals who
have included the Orchestra in their will or who have
established a charitable trust or other planned gift.
Provisions in the Internal Revenue Code make planned gifts
attractive for those thinking of today, as well as the
future. Many individuals, including those who never thought
they could make a sizeable contribution to a charitable
organization, can benefit from the tax implications associated
with a charitable gift.
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Planned giving vehicles can provide the
means for you to make a consequential gift to the Orchestra
that will, at the same time, result in benefits to you
and your family. Some of the benefits you may realize
are long-term financial security, increased income and
the reduction or elimination of taxes (including income,
capital gains and estate). In addition, these plans can
help you provide for a dependent's education, increase
income during retirement, or simply provide your heirs
with an increased inheritance.
The basic idea is very simple, though the many variations
possible make it a complex subject. In short, a planned
gift of any sort can provide for a charitable organization
while furthering the financial plans of the donor.
Planned gifts can provide you, or other beneficiaries
you name, with an increased income stream and provide
savings in taxes — income, capital gains, estate
— which can be substantial. The old saying "you
can't take it with you" is more valid than ever today
as estate taxes can take as much as 55% of your assets
(and this figure goes up substantially for assets in retirement
plans). However, through an estate plan you can decide
which organizations will benefit from your assets in the
future. Those without a plan leave that decision up to
the government to decide.
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