Posted on November 4, 2013 by Kelsey Ervi
Charitable giving provides an opportunity for tax savings, particularly as individuals seek year-end planning options for their 2013 tax bills. The amount of tax savings depends on the donor's tax bracket and other factors. However, making a charitable gift is more than just careful year-end tax planning; it is also an opportunity to make a difference in communities through philanthropy. As the year draws to a close, now is the time to think about making your year-end charitable contributions.
As the end of the year draws to a close, please remember us in your charitable giving. WaterTower Theatre relies on individual and corporate donations to fund over 60% of its budget, a budget that is now close to $1.500,000. You can donate online today, or call our development department at 972-450-6227 to make a donation by phone. We want to keep professional theater thriving in North Texas, but it needs your help. Many thanks in advance.
Life Insurance: Gifts of life insurance, free of policy loans, allow donors who no longer need the policy, to take advantage of a charitable tax deduction. For a paid-up policy, the donor benefits from an income tax deduction equal to the replacement value of the policy or the tax basis (premiums paid to date of gift), whichever is less. If premiums remain to be paid, the future premiums can be deducted from the donor's income tax on an annual basis. The nonprofit must be named as policy owner and beneficiary. State law should be consulted when making gifts of life insurance. To obtain a gift or income tax deduction, all incidents of ownership and rights in the policy must be assigned to the charity.
Bequests: During the year-end charitable planning process, donors may wish to revisit their estate plans. Charitable bequests allow donors to achieve a philanthropic legacy while providing estate tax relief. A properly executed bequest is necessary to secure the deduction, which is important given the impact of the estate tax on large estates.
Stock: Gifts of stocks and bonds are an extremely tax-efficient gifting option. The gift of appreciated securities offers a two-fold tax savings by avoiding capital gains and receiving an income tax deduction for the full fair market value of the stock at the time of the gift. Stock should be owned for generally more than one year to qualify for the tax advantages. The stock gift and properly endorsed stock power should be postmarked by December 31 to qualify as a 2013 gift. The gift is completed on the date of the receipt of the wire transfer, or on the date of mailing. If donors choose to mail a gift of stock, it is recommended that both the stock certificate (unendorsed) and the signed stock power be mailed in separate envelopes with return receipts requested.
Cash: As the saying goes, cash is king, and it remains one of the easiest ways to give. Cash gifts can lower the donor's 2013 tax bill if the gift is postmarked by December 31. The current law allows deductions of up to 50 percent of an individual's adjusted gross income to a public charity, with excess deductions carried forward and deducted over the next five years, if needed, to fully use the deduction.
Donors should consult with their tax and financial advisors well in advance of year-end to discuss charitable giving options.
WaterTower Theatre is a 501 ( c ) ( 3 ) non-profit organization as designated by the IRS.
Posted on October 1, 2013 by Kelsey Ervi
The Tom Sawyer Project is an education program of WaterTower Theatre. The program is designed to involve Dallas County High School Students in their own production of The Adventures of Tom Sawyer which WaterTower Theatre is producing January 24 – Feb., 16, 2014. High School students from DISD Schools will audition for all the roles in The Adventures of Tom Sawyer and, under the direction of Kelsey Ervi, will produce their own production of the play. Janeth Farnsworth, Education & Community Services Manager, will coordinate the project. The students will be able to attend the rehearsals of the play by the Company’s professional actors. The professional actors and creative team will provide mentorship for the student actors. There are 8 roles to be filled and one technical position. Students must be between the ages of 14 – 18 years old.
Auditions will be held on November 2nd from 10 am to 1 pm with callbacks 2:30 pm to 4:30 pm at WaterTower Theatre. Students interested in making an audition appointment should sign up at http://tinyurl.com/n6j33gz. Students interested in the technical position or with additional questions should contact Janeth Farnsworth, Education & Community Services Manager, WaterTower Theatre by email only at firstname.lastname@example.org.
The student production of The Adventures of Tom Sawyer will be held on February 4 and 11, 2014 at WaterTower Theatre. Tickets to the performance will be $10 in advance or Pay What You Can at the door. The performances will be open to the general public. Rehearsals will take place in January in the evenings and on weekends.
WHO: High School Students ages 14 – 18.
Posted on September 27, 2013 by Kelsey Ervi
This holiday season at WaterTower Theatre we're bringing you 2 laugh-out-loud comedies!
THE GAME'S AFOOT (OR HOLMES FOR THE HOLIDAYS)
It’s December 1936 and stage star William Gillette, an iconic actor admired all over the world for his role as Sherlock Holmes, is shot onstage during a show. While he recuperates, he invites his fellow cast members to his Connecticut castle for a lively Christmas weekend of fun. But, when one of his guests is found stabbed to death, the fun turns dangerous. It’s up to Gillette, as his assumes the persona of his beloved Holmes, to find the killer before someone else is killed. The hilarity is non-stop in what is a glittering whodunit set during the Christmas holidays! Oh, did we mention it’s written by Tony Award winner Ken Ludwig (Lend me a Tenor, Moon Over Buffalo).
THE SANTALAND DIARIES
Crumpet is a rebel without a Clause as he recounts the true-life tale of an out-of-work writer's stint as a Macy's Department Store elf. (Contains mature themes and language. Not intended for children.)
Single tickets are on sale now! Call our Box Office at 972.450.6232 to reserve your seats today!
at the Addison Theatre Centre
15650 Addison Road
Addison, Texas 75001