THE CANDLELIGHT THEATRE LEGACY SOCIETY
“It was time to think about The Candlelight Theatre’s future as we thought about our own. Our participation is not only a legacy we leave for The Candlelight, it’s a legacy we leave our family as well. We want them to think about the mark they will leave on society and culture.”
Joe & Mary Jones – Founding Members of The Candlelight Theatre’s Legacy Society
The Candlelight Theatre’s Legacy Society recognizes those who play a lasting role in securing The Candlelight Theatre’s strong, successful future beyond their lifetime by making a bequest or other planned gift. Members enjoy benefits and recognition now for their future gift, including invitations to The Candlelight Theatre Legacy Society events, private backstage tours upon request, and acknowledgement in The Candlelight Theatre’s program books.
By making a bequest to The Candlelight Theatre’s in your will or trust, or by designating The Candlelight Theatre as a beneficiary of your retirement account or insurance policy, you can ensure that The Candlelight Theatre will continue to produce great theatre and make a lasting impact through our award-winning youth, education, and community initiatives. The Candlelight Theatre welcomes estate gifts of any size, and there may be tax advantages associated with your gift.
One of the simplest ways to remember The The Candlelight in your estate plans is through your will or trust. You can designate a specific asset, amount of money, or percentage to The The Candlelight using language such as:
“I give and bequeath to The Candlelight Theatre, Inc., 2208 Millers Road, Arden, Delaware, the sum of $________(or a description of the specific asset), or ____% of the residue of my estate (or trust) after debts and expenses for the benefit of The Candlelight Theatre and its general purposes.”
Designating all or part of what remains of your retirement plan after your death can be a tax-efficient way to make a gift to The Candlelight Theatre. Since IRAs and 401(k) plans are usually funded with untaxed dollars, they are subject to income tax as well as estate tax. As a nonprofit organization, The Candlelight would receive your gift tax-free.
Making a gift from your IRA or 401(k) can be as simple as logging into your plan’s website and designating The Candlelight as a beneficiary in the Beneficiary Designation area. You can also request a form from your plan administrator and name The Candlelight Theatre’s as a beneficiary.
If you own a whole life insurance policy that you no longer need, you can make The Candlelight Theatre owner of the policy. By doing so, you will normally receive an income tax deduction for the policy’s fair market value or cost basis. If you name The Candlelight Theatre beneficiary of the policy and retain ownership, you will receive an estate tax deduction for the insurance proceeds.
You will need The Candlelight Theatre’s correct legal designation to finalize your planned gift:
Candlelight Theatre Company, Inc.
2208 MILLERS RD.
WILMINGTON, DE 19810
Tax exempt under IRC Section 501c(3) and a public charity for federal tax purposes.
You may wish to print and mail our Candlelight Theatre Legacy Society Form.
For more information about The Candlelight Theatre Legacy Society, please contact:
Major Gifts Officer
THE CANDLELIGHT THEATRE
2208 MILLERS RD.
WILMINGTON, DE 19810
The information on this website is not intended as legal or financial advice. The Candlelight Theatre strongly encourages you to discuss any planned giving option with your attorney and/or financial advisor to confirm that it meets your financial and philanthropic objectives.