Legacy Partners Yale School of Drama
4/22/13 10:36 AM
James Bundy Dean, Yale School of Drama Artistic Director, Yale Repertory Theatre
Dear Alumni and Friends, Your generosity has supported Yale School of Drama through remarkable change and progress over the years. In partnership with Yale Rep, the School of Drama has trained generations of leaders in the field—from artists who are household names to unsung heroes who are visionaries of non-profit theatre, creating transformative theatrical experiences at the grassroots level. We’re asking you to play an active role in the School of Drama’s future by considering a major gift through your estate plan. By joining Yale School of Drama Legacy Partners, you can help us maintain the highest standards of theatre training while pursuing your own financial goals. Yale has developed a range of options that can both offer you income and advance the mission of the School by supporting its people and programs. Whether your gift is made as a bequest intention, charitable gift annuity, charitable remainder trust, or other creative plan, your generous participation will make a lasting difference. With a planned gift, you can meaningfully increase financial aid or faculty compensation; you can endow operating funds at the School, Yale Rep, or Yale Cabaret; you can make a vital commitment to commissioning new plays. However your gift is structured, its impact will be felt for years to come, through the students, faculty, and programs you choose to support. I invite you to read the stories of Drama School alumni who have already made planned gifts. I hope you will join them in this distinctive effort on behalf of the School. With your help, we can extend the legacy of our remarkable creative community—and its tradition of leadership— far into the future. Sincerely,
on the cover: South Portal, University Theatre
5/20/13 10:30 AM
Table of Contents Yale School of Drama Legacy Partners .......2 Bequests to Yale: Building a Lasting Legacy ........4 Gifts That Secure Income for You ....................6 Strategic Use of Your Assets ........12
Tim Brown ’13 and Lupita Nyong’o ’12 in The Winter’s Tale, Yale Repertory Theatre, 2012
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Yale School of Drama Legacy Partners We invite you to join Yale School of Drama Legacy Partners, a society of alumni, family, and friends who have included YSD in their estate plans or made other planned gifts to the School. Donors who remember Yale in this manner support the aspirations of talented Yale students and faculty from around the world, in every theatrical discipline. Through Yale School of Drama Legacy Partners you can directly influence the future of Yale. As a Legacy Partner, you will be acknowledged in honor roll listings in University and School of Drama publications. You are eligible for membership in Yale School of Drama Legacy Partners if you have named the School as a beneﬁciary of your will or trust, life income gift, IRA or other retirement plan, life insurance policy, or other planned gift. Information regarding the amount, nature, or designation of your bequest or gift is welcome but not required for membership.
Partners Through Giving With a planned giving strategy tailored to your needs, you can put your assets to work for the School of Drama while you share in the beneﬁts:
The chance to leave a meaningful legacy A income stream for you or a loved one Savings on your income and estate taxes The peace of mind that comes with Yale’s sound financial management The satisfaction of advancing the School’s mission to enhance the theatre field
This booklet introduces the many gift options available. If one of these strategies seems right for you, we invite you to contact us to learn more. We would be happy to provide detailed information to help you and your professional advisors plan a gift that can work for you.
Dan O’Brien ’14, Catherine Chiocchi YC ’15, and Ashton Heyl ’14 in Sunday in the
Brian Valencia ’10 and Christopher Mirto ’10 in rehearsals for Phèdre, Yale School of Drama, 2009
Park with George, Yale School of Drama, 2012
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Da’Vine Joy Randolph ’11 in Jelly’s Last Jam, Yale School of Drama, 2009
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Bequests to Yale: Building a Lasting Legacy Manage your assets and meet your family’s ﬁnancial needs during your lifetime Provide a tax deduction for your estate Support future generations of Yale School of Drama students and faculty There are many ways to include the School of Drama in your estate plan. Each can support the School and may qualify you for an estate tax deduction.
Make a bequest of cash, securities, or other property Designate a speciﬁc dollar amount, a particular asset, or a ﬁxed percentage of your estate for Yale Leave all or a portion of your residuary estate to Yale School of Drama after you have provided for your other beneﬁciaries Name the School of Drama as a contingent beneﬁciary of your estate in the event your other beneﬁciaries do not survive you
You may stipulate that your bequest be used for a special purpose at the School, such as scholarships, facilities renewal, Yale Repertory Theatre, or resources for a particular department. Because educational activities and priorities change over time, you may wish to give the School the flexibility to use the funds where they are most needed. If you are considering a bequest with speciﬁc restrictions for its use, you or your legal advisor should discuss your plans with Yale School of Drama’s Development Oﬃce to ensure that Yale will be able to fulfill your intentions.
Sheria Irving ’13 in Outlaw Jean,
Yale School of Drama, 2012
Amanda Seymour ’09, Tom McAlister (Costume Shop Manager), Moria Clinton ’09, and Luke Brown ’09
Charles S. Dutton ’83 Death of Salesman, Yale Repertory Theatre, 2009
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barbara Richter ’60
Thomas Moore ’68 When he began his Drama School career, Tom Moore ’68 wasn’t sure he would succeed as a director. But he worked hard and flourished at YSD, learning “the tools of directing, the literature of directing, and the fortitude of directing,” he says. Since graduating from Yale in 1968, Tom has directed extensively on Broadway and at prominent theatres including the Mark Taper Forum, American Conservatory Theater, La Jolla Playhouse, Guthrie Theater, and Williamstown Theatre Festival. Most widely known for his direction of Grease and the Pulitzer Prize-winning play, ’night Mother, Tom has also directed episodes of E.R., Mad About You, Gilmore Girls, and L.A. Law. He received two Tony Award nominations and three Emmy Award nominations for his direction. By including YSD in his estate plans, Tom has derived satisfaction from knowing that he will be supporting future generations of students: “It only seems fair and fitting that part of one’s legacy should go back to help others move forward in their own way.”
“I’ve always felt that Yale is in many ways responsible for my career. All of my first collaborations were a direct result of Yale.”
When Barbara Richter ’60 attended Yale School of Drama, the Technical Design and Production program was very different than it is today. Known then as the “Technical, Design, and Lighting” department, the program was intended to prepare multi-talented theatre artists to work in the profession and in education. Barbara and her fellow students were trained in scenic, lighting, and costume design—as well as drafting and technical stagecraft. Barbara’s will included a bequest to establish the Barbara Richter Scholarship to support female students training at YSD. The first scholarship was awarded in 2008 to stage management student Amanda Spooner ’09. “I have always been serious about making a life in theatre, but I couldn’t imagine a place where art is the priority, passion is an asset, and expression a necessity—that is, until I came to Yale School of Drama.”
AMANDA SPOONER ’09
Amanda is now a successful freelance stage manager, based in New York.
THOMAS MOORE ’68
The cast of The Servant of Two Masters, Yale Repertory Theatre, 2010
Geordie Johnson (left) and Bryce Pinkham ’08 in
A Woman of No Importance, Yale Repertory Theatre, 2008
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Gifts That Generate Income for You A life income gift has many benefits: dependable income for you and your family, current and future tax savings, and a means to support Yale School of Drama. Whether you are planning for retirement, the educational expenses of children or grandchildren, or the care of loved ones, life income gifts are an excellent way to balance many goals.
Charitable Gift Annuities Secure, predictable ﬁxed income for you or a loved one Income tax savings Favorable reporting of capital gains For a minimum gift of $10,000, you may establish a charitable gift annuity for Yale School of Drama. You contribute cash or marketable securities in exchange for Yale’s promise to pay you and, if you wish, your spouse or another annuitant, a ﬁxed income for life. The annuity rate is based in part on your age at the time you begin receiving payments. As a donor, you may qualify for an income tax deduction in the year you make your gift. In many cases, you will receive a portion of your annuity payments tax free. You may also choose to delay the start of your payments for some period of time—an attractive option if you wish to provide a secure income stream for your retirement or for a loved one. A deferred payment charitable gift annuity may also allow you to increase the amount of the payments. If you transfer appreciated securities, the payment of capital gains tax may be spread over your life expectancy.
Charitable Remainder Trusts Income for you or a loved one Individual management of your gift Increased capacity to support Yale If you are considering a gift of $100,000 or more, depending on your age, a charitable trust may be the right option. You irrevocably transfer assets such as cash, marketable securities, or real estate to a trustee who separately manages and invests them. You, another person, a bank, or Yale may serve as trustee. The trust makes payments to you, you and your spouse, or another person for a ﬁxed dollar amount (annuity trust) or a variable amount (unitrust). Beneﬁciaries receive income for their lifetimes or for a speciﬁed term. At the conclusion of that term, the trustee pays the trust principal to Yale. Charitable remainder trusts may provide income, capital gain, and estate tax savings, and can be tailored to meet your personal and ﬁnancial goals.
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Reg Rogers â€™93 in Rough Crossing, Yale Repertory Theatre, 2008
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Stage Manager Bree Sherry ’10 prepares for a Yale School of Drama production
A gift to Yale School of Drama is an important personal choice. Whatever your goal—to support financial aid, outstanding teaching, high production standards, or resources for graduating artists—deciding to make a meaningful gift can be challenging. Sometimes it pays to explore your options.
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eugene Shewmaker ’49 Following naval service in WWII, Eugene Shewmaker ’49 entered Yale School of Drama as an Acting student. After graduation, Eugene went to New York and worked in small productions around the city. He then spent four years as a part-time theatre instructor at Stephens College in Columbia, Missouri before returning to New York. It was then that he embarked on a career in publishing, spending most of his time at Random House where he was an editor on both editions of the Random House Dictionary of the English Language, as well as many other reference books.
“I feel that those of us who made it through are really obligated to help those coming along to whatever extent our means will allow.” EUGENE SHEWMAKER ’49
After his retirement in 1990, Eugene began a project that united his love of theatre with his expertise as an editor. His book Shakespeare’s Language, a dictionary of unusual words found in Shakespeare’s plays and poems, was published in 1996 and stayed in print for 10 years. In May of 2008, a second edition was featured in the Library Journal’s “Highly Recommended” list. Recognizing the uncertainty of the stock market, Eugene wanted to find something that would give him an assured income. Since he had intended to leave some money to Yale, he was pleased to learn that the University offers a Charitable Gift Annuity program. “I gave to Yale, they pay me a quarterly income, and when I no longer need it, the balance goes into the Drama School Scholarship Fund. A rather nifty arrangement, I would say!”
Irene Soﬁa Lucio ’11 and Max Gordon Moore ’11 in Eurydice, Yale School of Drama, 2010
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Sarah Pearline ’09, Marie yokoyama ’10, Melissa Mizell ’08, Jennifer Tipton (Faculty), Tom Delgado ’09, Scott Dougan ’09, and Ji-youn Chang ’08
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ed Trach ’58
When Ed Trach ’58 learned of his acceptance to Yale School of Drama’s playwriting program, he was honored and delighted. But as a veteran of the Korean War with marriage on his horizon, he wasn’t sure if he could afford it. Then he was offered a work study position as House Manager at Yale’s University Theatre— a job that not only provided much-needed financial support for his artistic training, but also invaluable skills for his future career in television. After graduating from YSD, Ed became a writer and producer for Emmy Award-winning television shows, supervising classic comedies like The Dick Van Dyke Show and serving as Procter & Gamble’s Executive in Charge of Production on such soap operas as As the World Turns. His time at the School of Drama made a lasting impact on his career, not only by “providing an excellent education, but by giving me challenging opportunities to develop creatively and analytically, skills that I used every day in television. I carried away the learning I received from the distinguished faculty, and I relied on it in countless ways.”
“I certainly feel privileged to have received thorough preparation and rigorous training at Yale. And I feel privileged now to be able to support Yale annually and provide a legacy gift, so that others may be given similar opportunities in the future.” ED TRACH ’58
Now Ed feels fortunate to be able to give back through annual contributions and a charitable remainder trust. By contributing to YSD he can “support its mission to produce the artistic visionaries and the creative and production and business leaders of tomorrow. It’s very satisfying to know that the school that has served me so well can now serve new generations of students.”
Tony Converse YC ’57 and Sue ann Converse ’55
Sue ann and Tony Converse
When Tony Converse YC ’57 says that studying drama at Yale was “the luckiest thing that ever happened to me in my life,” he’s not just speaking professionally. As an undergraduate taking courses at Yale School of Drama, Tony met his wife, actress Sue Ann Converse ’55—as well as a large community of future theatre and television professionals who continue to form the heart of the Converses’ circle of friends.
After successful careers in theatre, television, and film, Tony and Sue Ann are generously giving back to the institution that has meant so much to them over the years. They have created a charitable remainder trust that provides a lifelong income stream to them, and ultimately supports the School of Drama.
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“ Yale has made it possible for many people to find themselves professionally.” SUE ANN CONVERSE ’55
Irene Soﬁa Lucio ’11 and Joseph Parks ’08 in Romeo and Juliet, Yale Repertory Theatre, 2011
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Strategic Use of Your Assets Retirement Plans Maximize your giving by minimizing taxes build your legacy to Yale Retirement funds held in IRAs, 401(k)s, or other qualiﬁed retirement plans offer a straightforward and tax-eﬃcient way to make a generous gift to the School of Drama. If you have reached the age when you are eligible or required to take distributions from these accounts, and the funds exceed your current income needs, a gift to Yale can help to offset your tax liability while providing support to the School. Another option is to name Yale School of Drama as a beneficiary of your retirement plan. If these assets are left to children, grandchildren, or other heirs, as much as 70% or more of the bequest may be consumed by estate and income taxes. In contrast, Yale School of Drama will receive 100% of your charitable contribution. You should consult with your financial advisor to understand how this type of giving may benefit you and your family.
By including Yale School of Drama in your estate plan, you make a lasting contribution that will strengthen the School and, through our faculty and students, touch countless lives.
Other Assets to Consider: Tangible Personal Property Life Insurance Privately-held business Interests
Creative Ways to Give: Pooled Income Funds
Charitable Lead Trusts Donor advised Funds We are happy to discuss these gift options with you. Austin Durant ’10 in American Night: The Ballad of Juan José,
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Yale Repertory Theatre, 2012
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It often makes sense to look beyond cash and publicly
traded securities. You may
Maximize your giving potential
own property that is
Generate tax deductions
valuable on paper but,
Save on capital gains tax Making a gift of a primary residence, vacation home, undeveloped land, or other property interests is a strategic way to support Yale School of Drama. Your donation can put the property’s full value to work to advance the School’s mission. What’s more, you will receive a charitable deduction equal to the property’s fair market value. In contrast, by selling the property—and paying capital gains tax on its appreciated value—you realize only a portion of its worth. Another way to donate a personal residence is to give Yale School of Drama a remainder interest. Under this arrangement, you may continue to use and enjoy the property, while you agree to pay the taxes and maintain it. Upon your death or when you no longer need the property, it will pass to the School of Drama. This type of gift has the potential to generate a signiﬁcant charitable deduction at the time the gift is made. Real estate may also be used to fund a charitable remainder trust.
because it is illiquid or tax-burdened, may never realize its full value. A strategic alternative is to donate that asset—a part of your retirement plan, real estate, an insurance policy, or other personal property —to Yale. In many cases, you can enjoy immediate and future tax savings, while making a larger gift than you thought possible.
Adina Verson ’12 and Alex Trow ’12, yC ’09 in Doctor Faustus Lights the Lights, Yale School of Drama, 2011
Yale Repertory Theatre
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The beneﬁts of planned giving—an income stream, tax advantages, and professional asset management—can open the door for you to make a legacy gift today. You
For Further Information Making a planned gift might be easier than you think. If you would like to learn more, Yale School of Drama is ready to help with:
More information about planned gift options Illustrations that spell out just how a planned gift works, including potential tax and ﬁnancial beneﬁts Information tailored to your speciﬁc circumstances that you can share with your professional advisors
can fund your contribution
We welcome you or your advisors to contact us:
with a wide array of assets,
DeboRah S. beRMan Director of Development and Alumni Affairs Yale School of Drama PO Box 208244 New Haven, CT 06520-8244 (203) 432-2890 firstname.lastname@example.org
and you can direct your support as you choose— to the School’s general purposes or to an area that interests you most. We are eager to discuss these options with you and to prepare an individual
To learn more please visit: www.yale.planyourlegacy.org or drama.yale.edu/alumni
plan you can review with your ﬁnancial advisor.
Photos by Maggie Elliott, T. Charles Erickson, Ethan Heard ’13, Joan Marcus, Carol Rosegg, Sarah Stevens-Morling, and Richard Termine
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