Planned Giving

Passionate about Ballet and Philanthropy

Virginia CountsWith her undergraduate degree in mechanical engineering and a master's degree in industrial engineering and now pursuing a PhD in sustainable engineering, all from Arizona State University, Virginia Counts has worked for 13 years at Medtronic, a large manufacturer of health devices. She is a program manager in "sourcing" and works to bring new suppliers of devices and their components into the culture of the overall Medtronic operation. Virginia feels good about working for a company that helps to improve people's health.

A native Phoenician, Virginia studied ballet from age 5 to 14 and wishes she'd never stopped. She's gone back for adult ballet classes a couple of times over her work career, most recently at the School of Ballet Arizona. She loves the facilities at the new Washington Street studios, in the neighborhood where she began her career working for Allied Signal/Garrett. Virginia has been a Ballet Arizona subscriber more on than off since graduating from college and enjoys introducing new people to the Company's work on stage. She appreciates the rapid development of the Company's technical and artistic strength under the direction of Ib Andersen.

Virginia has been extensively active in the Society of Women Engineers, a nonprofit organization with 20,000 members whose purpose is to encourage women to study and pursue careers in engineering and provide vital scholarship support to many women. It was through SWE that her awareness of philanthropy grew, recognizing that there was an important link between donations to SWE and the programs it could offer. Bequests realized by SWE were especially impactful, she noticed, especially to the organization's ability to provide scholarships.

It was following her divorce that Virginia began to think about planning for her own future financial security and health care, and she remembered the importance of including charitable giving in her estate plans. She made a generous bequest in her estate plan to benefit Ballet Arizona upon her death because she wants to help continue the beautiful art of ballet in the Phoenix community and perpetuate the inspiration it offers to those who experience it.

It will be many years before Ballet Arizona realizes the gift that Virginia has planned. At age 50 she has many years left as a member of the audience and as a ballet student! Her thoughtfulness and generosity are deeply appreciated.

A charitable bequest is one or two sentences in your will or living trust that leave to Ballet Arizona a specific item, an amount of money, a gift contingent upon certain events or a percentage of your estate.

an individual or organization designated to receive benefits or funds under a will or other contract, such as an insurance policy, trust or retirement plan

"I give to Ballet Arizona, a nonprofit corporation currently located at 2835 E. Washington Street, Phoenix, AZ 85034, or its successor thereto, ______________ [written amount or percentage of the estate or description of property] for its unrestricted use and purpose."

able to be changed or cancelled

A revocable living trust is set up during your lifetime and can be revoked at any time before death. They allow assets held in the trust to pass directly to beneficiaries without probate court proceedings and can also reduce federal estate taxes.

cannot be changed or cancelled

tax on gifts generally paid by the person making the gift rather than the recipient

the original value of an asset, such as stock, before its appreciation or depreciation

the growth in value of an asset like stock or real estate since the original purchase

the price a willing buyer and willing seller can agree on

The person receiving the gift annuity payments.

the part of an estate left after debts, taxes and specific bequests have been paid

a written and properly witnessed legal change to a will

the person named in a will to manage the estate, collect the property, pay any debt, and distribute property according to the will

A donor advised fund is an account that you set up but which is managed by a nonprofit organization. You contribute to the account, which grows tax-free. You can recommend how much (and how often) you want to distribute money from that fund to Ballet Arizona or other charities. You cannot direct the gifts.

An endowed gift can create a new endowment or add to an existing endowment. The principal of the endowment is invested and a portion of the principal’s earnings are used each year to support our mission.

Tax on the growth in value of an asset—such as real estate or stock—since its original purchase.

Securities, real estate or any other property having a fair market value greater than its original purchase price.

Real estate can be a personal residence, vacation home, timeshare property, farm, commercial property or undeveloped land.

A charitable remainder trust provides you or other named individuals income each year for life or a period not exceeding 20 years from assets you give to the trust you create.

You give assets to a trust that pays our organization set payments for a number of years, which you choose. The longer the length of time, the better the potential tax savings to you. When the term is up, the remaining trust assets go to you, your family or other beneficiaries you select. This is an excellent way to transfer property to family members at a minimal cost.

You fund this type of trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. You can also make additional gifts; each one also qualifies for a tax deduction. The trust pays you, each year, a variable amount based on a fixed percentage of the fair market value of the trust assets. When the trust terminates, the remaining principal goes to Ballet Arizona as a lump sum.

You fund this trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. Each year the trust pays you or another named individual the same dollar amount you choose at the start. When the trust terminates, the remaining principal goes to Ballet Arizona as a lump sum.

A beneficiary designation clearly identifies how specific assets will be distributed after your death.

A charitable gift annuity involves a simple contract between you and Ballet Arizona where you agree to make a gift to Ballet Arizona and we, in return, agree to pay you (and someone else, if you choose) a fixed amount each year for the rest of your life.
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