Rita E. Stein

Rita Stein

Marshall Hess. Life Trustee, Raymond F. Kravis, the Center’s Namesake, Rita E. Stein, Building Campaign Advisory Board

When I was seven years old my parents took me to my first opera in Philadelphia where I grew up. Since that night the performing arts have had a very special place in my heart. When I moved to Florida in 1979, I missed the joy and delight of seeing premier ballet companies, the Metropolitan Opera, and hearing internationally acclaimed orchestras perform in a world-class facility. The trek to the “leaky tee-pee” was far from ideal and it was heartbreaking to watch artists perform in much less than perfect conditions.

In the mid-‘80s, when I first heard of the possibility there would be a major performing arts center built in Palm Beach County, I immediately began to support the fund raising efforts as a volunteer on the “Cocktails for Culture” Committee. I hosted a party at my Frenchmen’s Creek home and encouraged all my neighbors to support the Center by making a donation to the “buy a seat” campaign. We raised enough money to fund a row of seats! Yes, the planning and building of the Kravis Center were exciting times and it was an honor to be a member of the Building Campaign Advisory Board. We all worked hard to introduce new donors to the Center’s mission, and we all did our part to turn a dream into the reality it is today – a world-class performing arts center!

Looking to the future, we need to ensure the Center will remain a cultural icon in Palm Beach County forever. Because I care deeply about the Center’s community outreach efforts to engage new young audience members, I made the decision to support the Center with a current gift to the Permanently Restricted Endowment Fund. It is so heartwarming to me to know the work we are now doing to enlarge the endowment will provide income to help the Center continue to carry on its mission bringing joy and happiness to the youth of today who are the audiences of tomorrow.

Rita E. Stein

The Raymond F. Kravis Center for the Performing Arts is a 501(c)(3) not-for-profit corporation and all gifts made to the Center are tax-deductible to the extent provided by state and federal law. 100% of such gifts are retained by the Center to support its operations.

A COPY OF THE OFFICIAL REGISTRATION AND FINANCIAL INFORMATION FOR THE RAYMOND F. KRAVIS CENTER FOR THE PERFORMING ARTS, INC., A FLORIDA BASED NONPROFIT CORPORATION (REGISTRATION NO. CH3470), MAY BE OBTAINED FROM THE DIVISION OF CONSUMER SERVICES BY CALLING TOLL FREE 1-800-HELP-FLA (435-7352) WITHIN THE STATE OR VISITING THEIR WEB SITE AT www.FloridaConsumerHelp.com. REGISTRATION DOES NOT IMPLY ENDORSEMENT, APPROVAL OR RECOMMENDATION BY THE STATE. Federal Tax ID Number: 59-2245054

Contact

The Raymond F. Kravis Center for the Performing Arts, Inc.
701 Okeechobee Boulevard
West Palm Beach, FL 33401

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Box Office: 561.832.7469
Administration: 561.833.8300

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A charitable bequest is one or two sentences in your will or living trust that leave to the Kravis Center for the Performing Arts 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 the Kravis Center for the Performing Arts, a nonprofit corporation currently located at 701 Okeechobee Blvd., Attn: Finance Department, West Palm Beach, FL 33401, 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 the Kravis Center 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 the Kravis Center 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 the Kravis Center 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 the Kravis Center where you agree to make a gift to the Kravis Center 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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