About Charitable Remainder Trusts

Tailor a Trust to Your Goals While Supporting the Philharmonic
By establishing a charitable remainder trust (CRT), you can make a generous gift to the Philharmonic while receiving income for life – or for a fixed number of years. You can also choose to have income from the trust provided to a beneficiary of your choosing. A CRT can be an appropriate gift vehicle at any stage of life, and provides distinct benefits to younger and older donors. As with any other philanthropic gift, you should consult with your attorney and financial advisors prior to establishing a trust, but we always welcome your inquiries about how a CRT may fulfill your wishes to support the Philharmonic.

How a Charitable Remainder Trust Works
To establish a CRT, you make an irrevocable gift of cash, securities or other property to the trust. You may select one or more individuals, a bank or a trust company to serve as your trustee. Your trustee then invests the assets and manages the CRT as a separate account. When you establish the trust, you must choose whether you prefer a CRT annuity trust, which provides a fixed income payment, or a CRT unitrust, which provides a variable income payment. We will be glad to explain the differences between these two types of CRTs when you contact us. Whatever your choices, when the trust is terminated, the principal assets are passed on to the New York Philharmonic.

How a Charitable Remainder Can Benefit You
When you establish a CRT, you can significantly increase your spendable income during your lifetime while reducing estate taxes for your heirs. You can also receive an immediate income tax deduction for your gift. Most importantly, a CRT allows you to make a more generous contribution to the New York Philharmonic than might otherwise be possible.