A Gift in Your Will or Trust is easy and inexpensive. You retain complete control of your assets during your life and can change your will at any time in order to reflect new or unexpected priorities. The official language for a gift in your will is:
“I give ( _______ dollars) or (% _______ ) of the rest, residue and remainder of my estate to The Kentucky Center for the Arts Endowment Fund, Inc., 501 W. Main Street, Louisville, KY, 40202 restricted for the Governor’s School for the Arts.”
A Beneficiary Designation of Retirement Plan Assets or Life Insurance is a very simple way to include GSA in your estate. If left to your children or individuals other than your spouse, your retirement funds face both income and estate tax, in some cases leaving only about 30% of the assets for your family. On the other hand, as a tax-exempt charity The Kentucky Center receives 100% of the gift tax-free. A beneficiary designation of life insurance on a policy you no longer need for family protection is also an easy way to make an estate gift to GSA.
The correct beneficiary designation for your retirement plan or life insurance policy is: “The Kentucky Center for the Arts Endowment Fund, Inc., 501 W. Main St., Louisville, KY, 40202, restricted for the Governors School for the Arts.”
The Legal Address and Tax Identification Number for the Endowment Fund are:
The Kentucky Center for the Arts Endowment Fund, Inc.
501 West Main Street
Louisville, KY 40202
Tax Identification Number #31-0999046.