Financial Giving

Contact Executive Director, Claude Giroux for more information on giving to The Prizery.
ed@prizery.com
Claude Giroux

When you become a Prizery Individual Patron, not only do you help us make our work on and off the stage and classroom possible, you become a valued part of our family. Your support creates the theater, gallery and education, experience you want while giving our artists, staff and guests the resources they need to produce high quality productions, events, art, and community education programs for years to come.

Becoming an Individual Patron provides you with a variety of benefits as well as opportunities to bring you closer to the creative process, our organization, and of the artists themselves! Come on over and join us!

The Prizery welcomes direct donations in lieu of show, show sponsorships, or general advertisement.

Ways to Donate
  • Cash or Check
  • OnlineClick here to donate
  • Stock – Donating stock is one of the smartest ways to give, and it benefits you while supporting the Community Arts Center Foundation (dba The Prizery).

Here’s why: You can save on taxes – When you donate your appreciated assets, you avoid paying capital gains tax. If you itemize deductions, you can also take a charitable deduction for the entire donation amount. Now is the perfect time to donate for your gift to be eligible for your 2021 tax return, you must give by December 31, 2021.

For more information on how to make a stock donation, contact our Executive Director Claude Giroux at ed@prizery.com or (434) 222-5174

Annual Campaign - Giving Tuesday

DOUBLE DOWN AND DOUBLE THE JOY – November 30, 2021

Dear Friends, Neighbors, and Prizery Lovers!,

Giving Tuesday was created in 2012 as a simple idea: a day that encourages people to do good. Over the past nine years, it has grown into a global movement that inspires hundreds of millions of people to give, collaborate, and celebrate generosity. Whether it’s making someone smile, helping a neighbor or stranger out, showing up for an issue or people we care about, or giving some of what we have to those who need our help, every act of generosity counts and everyone has something to give.

On, Tuesday November 30th, 2021 The Prizery in South Boston will participate for the first time. As a highlight of the Our Community – Our Prizery end of the year fundraising campaign, any donation of $100 or more will be doubled up to $20,000 thanks to a generous pledge from an anonymous donor who spent their entire life supporting art and culture in this community (name to be revealed in the new year). In one day, we could raise more than half our goal of $60,000 – the “cash” we need to keep the lights on for our skeleton staff and to continue to produce community events, host local and Virginia artists, plan and execute a grand reopening for our gallery, SummerStock Theatre Festival, and community events with thousands of attendees like our trunk or treat event and our upcoming “Chillin With Santa” spectacular. These funds will also be critical to our planned full re-opening in fall and winter of 2022/23. We need you now more than ever!

Legacy & Planned Giving

Leave Your Legacy to art and culture right here in your home town!

Planned giving is a valuable opportunity for individuals to tailor special gifts that can benefit the Community Arts Center Foundation (dba The Prizery) and the communities we serve, now and in the future. Planned gifts can provide an individual with important reductions in current estate and income taxes, while maintaining or even increasing income from the donated assets involved.

Many vehicles exist to structure planned gifts, including bequests, charitable remainder trusts, charitable lead trusts, life insurance, and retirement plans. Depending on your goals for yourself, your family, and The Prizery, one or more planned giving vehicles can be considered.

If you are over the age of 70, it’s important to know that you can use your IRA to make charitable gifts.

Through the IRA Charitable Rollover provision, made permanent in 2015, you can donate up to $100,000 to the Community Arts Center Foundation (dba The Prizery) per year, directly from your account. Keep in mind this contribution will count toward your required minimum distribution (RMD), but will not be considered taxable income. Please contact your financial advisor to confirm your eligibility, and be sure to let us know if you are planning to make a gift.

Bequests play a critical role in helping the Community Arts Center Foundation (dba The Prizery) secure the future of its programming for generations to come.

Bequests are gifts by will, whether in the form of cash, securities, or other property, and may be fully deducted in determining federal and state taxes on your estate. CACF urges donors considering a bequest to consult an attorney.

There is no minimum amount for bequests. Donors may designate either a percentage of their residuary estates after provisions for survivors or others are fulfilled or a specific sum as a gift to the Community Arts Center Foundation (dba The Prizery). Donors may also designate a combination of these alternatives.

The most common types of bequests are:

  • Residual bequest, which leaves to the Community Arts Center Foundation (dba The Prizery) all or a portion of the remainder of the estate after specific bequests, taxes, and costs have been paid;
  • Percentage bequest, which provides that a stated percentage of a particular asset or of the estate be given to the Community Arts Center Foundation (dba The Prizery);
  • Specific bequest, through which the Community Arts Center Foundation (dba The Prizery) receives particular property outright (for example, certain securities or a specific dollar amount of cash); and
  • Contingent bequest, whereby the Community Arts Center Foundation (dba The Prizery) is a beneficiary of part or all of the estate upon the occurrence of certain specified events.

 

Sample Bequest Language
“I (name) of (city, state, zip), give, devise, and bequeath to the Community Arts Center Foundation (dba The Prizery)

  • (the sum of $_____)
  • (___ percent of my estate)
  • (description of property)
  • (the rest, residue, and remainder of my estate)
    for its unrestricted use and purpose.”

 

Identifying information for the Community Arts Center Foundation (dba The Prizery):

  • Legal Title: Community Arts Center Foundation
  • Corporate Address: 700 Bruce Street, South Boston VA 24592
  • EIN: 54-1795927

A gift of life insurance can offer the Community Arts Center Foundation (dba The Prizery) critical financial support. Such a gift may be appropriate when the growth of your other assets or the reduced need of dependents decreases a life insurance policy’s value to you. There are numerous ways to make a gift of life insurance to The Prizery:

  • Designate the Community Arts Center Foundation (dba The Prizery) as the beneficiary of an existing life insurance policy. Your estate will be entitled to an estate tax deduction if the insurance proceeds are ultimately paid to The Prizery.
  • Give an existing life insurance policy. By making the Community Arts Center Foundation (dba The Prizery) the owner and irrevocable beneficiary of the policy, you receive a federal income tax deduction for the gift. If the policy is paid up, the donor’s deduction equals the replacement value. If there are outstanding premiums to be paid, the deduction is approximately equal to the cash surrender value of the policy. If you purchase a new policy on your life and give it to The Prizery, the deduction is for the premium payments made. Giving a life insurance policy irrevocably to The Prizery will get the value of that policy out of your estate and likely save estate taxes later.

A donor may wish to name the Community Arts Center Foundation (dba The Prizery) as a beneficiary of his or her qualified retirement plan, so the full or partial share of the remainder passes to The Prizery. Plans that are most appropriate for funding charitable gifts include profit-sharing plans, 401 (k) plans, and IRAs, among others. Ask your plan administrator for the appropriate form.

A gift of plan assets to the Community Arts Center Foundation (dba The Prizery) after a donor’s lifetime can be an attractive option for several reasons. Because of tax rules, the transfer of plan assets to family members, other than the spouse, at the death of the plan participant may trigger two federal taxes – estate tax and income tax – potentially consuming up to 70% of plan assets and leaving little to family members. Leaving other estate assets like cash, stock, or real estate to family members while making a charitable gift of plan assets could provide a major gift to the Community Arts Center Foundation (dba The Prizery) at minimal cost to heirs.

Life income plans provide a donor and/or other designated beneficiary with income throughout his or her lifetime. Life income gifts also offer benefits including the ability to make a significant charitable gift to the Community Arts Center Foundation (dba The Prizery) after one’s lifetime.

  • Charitable Remainder Trust: A trust that pays income to one or more individual beneficiaries for life or a term of years, and then distributes the remaining assets to one or more charities.
  • Charitable Lead Trust: A trust established for the benefit of a charity under which the charity receives income from an asset for a set number of years or for the trustor’s lifetime. Upon the termination of the trust, the asset reverts to the donor or the donor’s designee.

Under a Retained Life Estate, a donor irrevocably deeds a personal residence or farm to the Community Arts Center Foundation (dba The Prizery), but retains the right to live in it for the rest of his/her life, a term of years, or a combination of the two. The donor continues to pay real estate taxes, maintenance fees and insurance on the property. Even though the Community Arts Center Foundation (dba The Prizery) would not actually take possession of the residence until the end of the specified term, since the gift cannot be revoked, the donor qualifies for a federal income tax charitable deduction for a portion of the residence’s value.

Planned giving is a valuable opportunity for individuals to tailor special gifts that can benefit the Community Arts Center Foundation (dba The Prizery), now and in the future. Planned gifts can provide an individual with important reductions in current estate and income taxes, while maintaining or even increasing income from the donated assets involved.

Many vehicles exist to structure planned gifts, including bequests, charitable remainder trusts, charitable lead trusts, life insurance, and retirement plans. Depending on your goals for yourself, your family, and The Prizery, one or more planned giving vehicles can be considered.

A GIFT TOWARDS OUR FUTURE

Great institutions are built on great endowments, and at the Community Arts Center Foundation (dba The Prizery), a growing endowment is a foundation for which our organization can set new standards for delivering artistic and cultural excellence.

An endowment is an unrestricted fund that provides the financial underpinning to launch new initiatives, plan for future years, seize opportunities for institutional advancement, and confront unanticipated challenges.

Endowment funds work in concert with operating funds to give The Prizery a diversified financial platform capable of addressing both the current and long-term needs of our programs. While operating gifts help cover the annual costs of delivering mission, endowment gifts are invested to earn interest. Endowments offer a steady income stream for everything from basic needs to special programs and initiatives. Endowment growth thus ensures a larger income stream in future years.

Prizery supporters can help guarantee the future of innovative programs as well as corresponding outreach and access programs by making an endowment.

The Prizery is happy to recognize endowment gifts through annual donor recognition.

CONTACT EXECUTIVE DIRECTOR CLAUDE GIROUX AT ED@PRIZERY.COM, OR (434) 222-5174 FOR MORE INFORMATION.

Gifts In Kind

We appreciate all donations, even the tangible ones like tools, costumes, furniture, and set pieces or props. However, due to limited space and resources, we’ve put together a list of items we can use and will accept. Please click below for more details:

ITEMS WE ACCEPT

Before delivering, please contact info@prizery.com with a list of items and photos, if possible.

TOOLS
  • Safe to use and in good working order. Power cords must be free of damage.
  • All basic hand tools, mostly free of rust
  • Power tools including; cordless drills/impact drivers, circular saws, chop/miter/compound miter saws, routers, etc.
  • Pneumatic tools (nailers, staplers, air hoses, compressors, etc.)
  • Drill bits, driver bits, saw blades (circular, jig)
PROPS

We are always on the look-out for unique items to dress the stage and our sets call with what you think might be suitable.

FURNITURE
  • Must be intact with no significant structural damage requiring extensive repairs. Cosmetic damage or wear-and-tear (faded finish, peeling paint, etc.) is okay.
  • Fabric (if applicable) must be free of stains and/or pet odors.
  • Please thoroughly inspect for signs of insect/rodent infestation (spiders, roaches, bedbugs, bees, droppings, nests, etc.) and clean if necessary before donating.
  • We have a preference for older items from the 20’s t0 the 80’s.
COSTUMES
  • Must be washed before donating
  • Please contact info@prizery.com with an itemized list and photos if possible
OTHER ITEMS
  • A commercial ice machine
  • A small freezer