Support our Future

Become a Legacy Society Member

The PSGMC Legacy Society members are those who make a life income gift or who remember PSGMC in their will or estate plan. Members of the Legacy Society provide for a strong future for PSGMC and can also receive substantial tax advantages. As you consider your options, please consult with your attorney or tax professional to discuss which type of planned gift would be most advantageous for you.

Make a Bequest

A gift from your estate enables you to achieve financial and tax goals, as well as benefit the mission.

Our Recommended Bequest Language:

The following is intended to help you and your attorney in drafting a bequest that satisfies your individual interests. As you consult your attorney on the selection of appropriate wording to reflect your own goals and intentions regarding the Palm Springs Gay Men’s Chorus, be sure the organization’s correct legal name appears in all final documents as Caballeros – The Gay Men’s Chorus of Palm Springs. Our tax ID is 33-0878639.

Unrestricted Gift: A gift that can be used where need is greatest. I give, devise, and bequeath to the Palm Springs Gay Men’s Chorus, (insert dollar amount) to be used for its general purposes.

Residuary Bequest: Leaves any remainder after all other bequests have been paid.
I give, devise, and bequeath to the Palm Springs Gay Men’s Chorus (insert percentage amount) percent of the residue of my estate to be used for its general purposes.

Contingency Gift: Takes effect only if a primary intention can’t be met. In the event that (insert name) predeceases me, I give, devise, and bequeath his/her bequest or share to the Palm Springs Gay Men’s Chorus to be used for its general purposes.

Gift of Life Insurance

You can name a non-profit organization as a beneficiary of a life insurance policy just as you can name people as beneficiaries. Because you can name more than one beneficiary, you can divide the death benefit among your loved ones and a charity. You decide the percentage of the payout the charity receives.

As an alternative to naming the Chorus as a beneficiary, you can transfer ownership of the policy, transferring ownership results in an immediate income tax charitable deduction and potential income tax savings in the year of the gift.

If you have an existing policy, it is easy to change the beneficiary to a charity. You will likely need to provide the Tax ID number of the organization. Our tax ID number is 33-0878639. Also, let us know that we are a beneficiary so that we can thank you for your future support.

Gift through a Retirement Plan

Most people do not use all their retirement assets during their lifetime, and those unused assets can be used to make a gift to PSGMC. A retirement plan can be a tax-efficient and simple way to include PSGMC in your estate plan. Because charities do not pay income taxes on the donations they receive, distributions to charities will avoid being taxed as income.

Types of retirement plans that can be given to charity include individual retirement accounts (IRAs), SEPs, 401(k), 403(b), and pension plans.

Estate and income taxes can consume a large portion of the money remaining in tax-deferred accounts such as IRAs and other qualified retirement plans. Giving your retirement plan to PSGMC may result in a significant reduction of tax burden for your heirs.

Gift through Personal Residence

You can donate your current or secondary residence to a charity while you retain the right to live there for life (or a chosen survivor’s lifetime.) Consult your attorney, accountant, or financial planner for additional information.

Gift through a Charitable Remainder Trust

A charitable remainder trust is created in order to leave assets to a charity or nonprofit organization at some time in the future. Usually, a person receives income from the trust while alive. The remaining trust principal goes to the charity upon his or her death.

Charitable remainder trusts are irrevocable. Assets that go in cannot be taken back. Consult with your financial advisor, attorney, or tax consultant to determine if a charitable remainder trust would be a viable option for you.

This is not professional legal or tax advice. Consult your legal and tax advisors regarding your specific situation. The Palm Springs Gay Men’s Chorus is a 501(c)(3) charitable organization. Contributions to PSGMC are tax-deductible to the extent provided by law.

Make a lasting impact by including the Palm Springs Gay Men’s Chorus in your estate plans!

By including the Palm Spring Gay Men’s Chorus in your estate plans, you can create a lasting legacy that will continue to support of our mission for generations to come. When you include PSGMC in your planned giving, you become part of our Legacy Society, a special group of donors who have committed to leaving a lasting legacy.

Please check the box next to the option that interests you most and we will gladly provide further information.