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Planned Giving

Join the Coda Society

Share in our vision for City Opera's future.

The Coda Society of New York City Opera honors individuals who believe that City Opera has a vital place in our musical and cultural life, and who have expressed their support through a bequest or other planned gifts. A planned gift can offer significant tax benefits to you or to your estate, while at the same time providing critical support to New York City Opera. You may designate your planned gift for City Opera's general operating expenses, for special projects, or for long-term endowment support.

Founded by visionary opera lovers Morton Baum, Newbold Morris, and Mayor Fiorello LaGuardia, New York City Opera opened its doors in 1944, presenting inventive productions to intelligent and curious audiences at modest ticket prices. City Opera quickly distinguished itself for its commitment to American composers and singers, its performances of stageworthy 20th-century works and neglected masterpieces, and its fresh productions of familiar works. We invite you to contribute to the legacy of City Opera. Join the Coda Society and help preserve and expand for future generations this rich history of innovation and commitment to artistic excellence.

Coda Society Membership Benefits

Invitations to events held exclusively for Coda Society members.

• A Coda Society membership card entitling you to intermission hospitality in City Opera's Green Room Patron Lounge
• Mailings and News Updates on City Opera activities
• Listing in New York City Opera publications
• Priority seating for season subscriptions
• Special advance notice of ticket discounts

Planned Giving Options

A Will Bequest

The simplest and most common way to make a planned gift to New York City Opera is through your will. You may choose to leave a specific dollar amount; a percentage of your estate; or specific assets, such as stocks or real estate. You can also make a gift of all or part of your property remaining after all other bequests have been paid, or a gift that takes effect only if your beneficiaries do not survive you. Any charitable bequest to City Opera is removed from your taxable estate and is not subject to estate taxes.

A Gift that Pays You Income During Your Lifetime

A Charitable Gift Annuity allows you to contribute cash or marketable securities to New York City Opera in exchange for a promise that you (and one successor beneficiary if you wish) will receive a specific amount of money each year for life. You may choose an immediate gift annuity, and payments will begin within one year from the date of gift; or a deferred payment gift annuity, and payments will commence at a later date. When these payments are no longer required, City Opera may use your gift for general purposes or may add it to City Opera's endowment fund. There are federal (and possibly state) tax benefits to the contributor.

A Charitable Remainder Trust enables you to make a gift which will provide you, or someone you designate, with income for life or for a period of years. You benefit by receiving a charitable deduction in the year you make the gift, by receiving income from the trust for the term of the trust, and by reducing the size of your taxable estate. You may select a Charitable Remainder Annuity Trust, which pays you a fixed dollar amount each year, or a Charitable Remainder Unitrust, which pays you a percentage of the value of the trust assets each year. City Opera benefits by receiving the amount remaining when the trust term ends. A Charitable Remainder Trust is particularly well suited for gifts of appreciated securities or real estate because it may avoid or defer potential capital gains taxes. It can be established during your lifetime or through your will.

A Gift that Provides Income to City Opera and Reduces the Cost of Transferring Assets to Heirs

If you have substantial assets which you would like to transfer to your children, grandchildren or others, a Charitable Lead Trust is an excellent means of making a gift to New York City Opera while reducing gift or estate taxes. City Opera receives an income from the trust for a number of years, and at the end of the term, your named beneficiary receives the trust principal. A Charitable Lead Trust may be established during your lifetime or through your will.

Your Life Insurance Policy

If you or your family no longer need the protection of your life insurance coverage, your life insurance policy provides an easy way to make a gift to New York City Opera. You can irrevocably name City Opera as owner of the policy and receive an income tax charitable deduction. Or, you can designate City Opera as beneficiary of your policy and receive an estate tax deduction.

Your Retirement Plan

The assets in your Individual Retirement Account (IRA) or other qualified retirement plan can be the basis of a future gift to New York City Opera, if you or your family do not need all the funds in this retirement account. This gift has the unusual advantage of avoiding potential future income taxes as well as estate tax.

A Savings Account in Trust

You can make a revocable gift to New York City Opera by opening a savings account in trust for New York City Opera. You (and only you) can add money to the account or withdraw money from the account, as you wish. As the account is entrusted to City Opera, the funds will not be subject to estate tax.

A Gift of Real Estate

If you contribute marketable property to New York City Opera, you will receive an income tax charitable deduction and avoid capital gains taxes on the appreciated value. Or, you may prefer to transfer a residence to City Opera irrevocably, while retaining the right to live in it for life or for a term of years.

Planned gifts, if properly structured, offer important tax savings: income tax; estate tax; gift tax; capital gains tax, or in some instances, a combination of taxes. New York City Opera strongly recommends that you consult with your tax and/or legal advisor about these gifts.

A copy of New York City Opera's most recent annual report can be obtained upon request by writing to the Charities Bureau, Office of the Attorney General, 120 Broadway, New York, NY 10271, or to New York City Opera, Development Department, New York State Theater, 20 Lincoln Center, New York, NY 10023.