Gifts by Check or Securities
We accept all major credit cards.
Gifts can also be made by mail, by phone, or through gifts of securities, as follows:
Please make checks payable to Lyric Opera of Chicago and send to:
Lyric Opera of Chicago
Attn: Donor Records
20 N. Wacker Dr., Ste. 860
Chicago, IL 60606
*You can designate your gift (Annual Campaign, Lyric Unlimited, etc.) on the memo line.
To make a contribution via phone, please call the Donor Records office at 312-827-3500. Please have your credit card information ready.
Gift of Securities (stock or mutual funds)
Please contact Stephanie Lillie, Senior Coordinator - Donor Records and Reporting at 312-827-5699 or firstname.lastname@example.org for more information.
Planned Gifts to Lyric Opera
Planned giving comprises future gifts to Lyric Opera through your estate plans. The generosity of many Lyric Opera patrons enables Lyric to engage in long-range planning for operas and other special projects well into the 21st century. These commitments ensure that Lyric will have the financial security to continue to present grand opera to both present and future generations.
For more information about any of these planned gifts, please contact Senior Director of Planned Giving Jonathan Siner at 312-827-5677 or email@example.com, or Associate Director of Planned and Major Giving Lynn Bennett at 312-827-5688 or firstname.lastname@example.org.
A bequest to Lyric Opera is a basic charitable planned gift completely free of estate and other taxes. A bequest is a statement of intent that can be inserted in your will, codicil to a will, or living trust. A charitable bequest can be established for a specific dollar amount or for a percentage of an estate or residuary estate. Sample bequest language is as follows:
I give ______% of the residue of my estate to Lyric Opera of Chicago, a sec. 501(c)(3) charitable organization, to be used for its general purposes.
I give $_______ to Lyric Opera of Chicago, a sec. 501(c)(3) charitable organization, to be used for its general purposes.
Naming Lyric Opera as a beneficiary of a life insurance policy prevents the insurance proceeds from being included in your gross estate. In addition, the cash surrender value and all future premiums paid on the policy may be taken as a charitable deduction on your income tax return if your transfer ownership of the life insurance policy to Lyric Opera.
IRA or Retirement Plans
Avoid multiple estate and income taxes by naming Lyric Opera as a beneficiary of your IRAs or retirement plans. These assets are normally subject both to estate taxes and income taxes upon death. However, if Lyric Opera is named a beneficiary, those taxes are avoided.
IRA Rollover Gifts to Lyric Opera
Federal law now allows taxpayers to make a tax-free gift of their IRA funds to charity. These IRA gifts are not considered a taxable withdrawal of IRA funds. They are limited to IRA gifts from taxpayers aged 70-1/2 and above, with a maximum of $100,000 in IRA gifts per years.
Charitable Gift Annuities/Charitable Remainder Trusts
Provide income for yourself, your spouse, or others for one or more lives by making one of these planned gifts. Upon death, the proceeds pass to Lyric Opera. You may receive income now, defer the income for retirement, or use it to fund your children's or grandchildren's future college expenses. These “income for life” gifts all have significant advantages, including:
-Avoidance or reduction of capital gains tax, if funded with appreciated stock or real estate held for more than a year.
-A charitable income or estate tax deduction.
-Conversion of low-yielding securities to higher payouts.
-Removal of these assets from your taxable estate.
You can purchase a Charitable Gift Annuity directly from Lyric Opera using cash or securities. Lyric then pays you income for life, paid to you quarterly, four times per year.
A Charitable Remainder Trust can also be created during your lifetime, or through your will or living trust to pay income for life to others upon your death. There are two kinds of Charitable Remainder Trusts: an Annuity Trust (and a Charitable Gift Annuity) pays you a fixed dollar amount per year; a Unitrust pays you an annual fixed percentage of its value to Lyric, with the Unitrust being revalued each year.
Charitable Lead Trusts
Avoid significant gift and estate taxes for your descendants by funding a Charitable Lead Trust. Once the Trust is established, Lyric Opera is paid income for a term of years, at the end of which the principal of the Trust passes directly to your named family or other beneficiaries.
Real Estate Gifts Through a Retained Life Estate
You can use real estate to make a planned gift through a Retained Life Estate in which you deed your home, condominium, co-op apartment, or farm to Lyric Opera but retain the right to live in it for the rest of your life, a term of years, or a combination of the two.