Founders
 
 

Bequests

One of the most effective methods of making a far-reaching gift to the School is to name SAB in your will. All bequests (unless otherwise designated) are added to the School's endowment, so your gift will help provide a steady stream of income for future generations of SAB students.


Making a bequest is easy. Your attorney can include the School when you first write your will or when your revise it, or can add a simple codicil at any time. He or she will want to know the School's legal name (School of American Ballet, Inc.) and address (70 Lincoln Center Plaza, New York, New York 10023), and the state of incorporation (New York).



There are several ways of leaving a gift to the School through your will:

  • A Specific Bequest indicates the actual amount of money or property you wish to leave to SAB. Or it can indicate a certain percentage of the total worth of your estate. If you leave a specific bequest to the School, be sure to review your will regularly to make sure that it reflects your true intentions in regards to your entire estate and other possible heirs.
  • A Residuary Bequest leaves the remaining portion of your estate (or a percentage of the total) after other bequests have been satisfied. This establishes a definite relationship between SAB and your other heirs, and adjusts automatically to any fluctuations in the value of your estate.
  • A Contingency Bequest takes into account the possibility of changing circumstances and depends on certain events taking place. For example, you might leave SAB a bequest if another heir predeceases you.


Your will can also be used to set up several varieties of trusts—one that might provide life income for a loved one, for example, but which will eventually help train future dancers at the School. Whenever you consider a trust, you should consult your attorney.

Tax Benefits
If your estate will be subject to federal or state estate tax, it's good to remember that all charitable bequests can be deducted from your estate before the estate tax is calculated.

Remember: A Bequest to the School with have long term effects. All such gifts, unless otherwise directed, are invested in SAB's endowment and will pay dividends to students in perpetuity.

If you do make a bequest to SAB, you'll be eligible to join The Founders Society —a group of loyal friends who have made similar plans by naming SAB in their wills, or as the beneficiary of a trust, insurance policy, IRA, etc.

Founders Society gifts all help provide a firm financial future for the School. Once added to the endowment they will provide student scholarships, faculty salaries, studio upkeep, and a host of other vital needs for decades to come.

Whatever form a Founders Society gift takes, it honors the memory of the School's two founders—George Balanchine and Lincoln Kirstein. All gifts help continue their extraordinary vision, and the practical application of that vision, which have made SAB the standard of excellence in ballet training throughout the country and the world.

If you have any questions about bequests (or other planned gifts), or if you would like to notify the School that you have included SAB in your estate plans, please telephone Thomas W. Schoff 212-769-6600, or email tschoff@sab.org.