Since its founding in 1944, NSAL has depended upon donations from individuals and organizations to perform its mission of supporting promising young artists. We appreciate and welcome your support. If you would like to make a donation, you may choose to give to our general fund or designate a specific program.
In many instances, donations have been made to honor or memorialize a friend, colleague, or relative who had a particular interest in the arts. NSAL scrupulously follows the wishes of the benefactor, and the award will be given in the name of the individual being honored or memorialized.
Direct Gifts to NSAL:
cash, appreciated stocks, land — will yield a charitable deduction for the full current value of the asset and also avoid the capital gains tax on the growth in value.
Gift by Will:
a legacy to NSAL could avoid state and federal death tax as well as the capital gains tax.
Charitable Gift Annuity:
you reduce capital gains tax, receive a charitable deduction, reduce estate taxes and have in return a guaranteed income part of which is tax-free.
Charitable Remainder Trust:
similar to the gift annuity, but the Trust could specify your charitable intentions after your death when the funds are available to NSAL free of estate tax.
Charitable Lead Trust:
provides for the charity in the form of current annual distributions. When the Trust has run its term remaining assets are distributed to beneficiaries designated by the donor within the trust document. Gift taxes are based on the original value of the assets put into a CLT, less the charity’s annual distributions. At termination, there are no further estate and gift taxes even if the Trust value has appreciated significantly.
Underwrite an Award:
One-time award donations:
Donations of this type can be used to fund a special award to be presented at the annual NSAL National Award Competition. For donations of $1,000 or more, a representative from the gifting party is invited to present the award personally at the awards ceremony.
Some benefactors have chosen to make a donation to establish an endowment so that an ongoing award can be made each year at the NSAL National Awards Competition. In some instances, benefactors have designated that the award be given in a specific art category. In other instances, the endowment has been used to provide award monies in each of the art categories in NSAL’s competition cycle.