Center in the Square

Center in the Square's Endowment Campaign: to assure that the wonders of this remarkable place never have to end, be curtailed or compromised. Center's endowment provides financial stability eliminating the uncertainty as political currents sometimes threaten funding. Unpredictable economic fluctuations will not interrupt the wonder. All seven organizations of Center can know their rent-free leases will continue securely, so they can direct their own funds toward programming and outreach.

Financial security will also allow Center to continue to grow, renovating downtown structures to provide housing for the expanding programs of our beneficiary organizations. Giving our corner of Virginia the room we need to grow.

A gift to Center's endowment will keep the wonders of art, drama, history, dance, music, and science alive for generations of young people.

"Just think of where our cities, and the people who live in them, would be, if everyone had as much imagination and devoted as much energy and care to their work as the team at Center in the Square."
-Simeon Bruner, The Bruner Foundation

Support arts and culture

The only cultural center of its size and scope in central and western Virginia, Center provides a free home and basic services worth over $2.5 million to seven arts and science organizations. With a secure roof over their heads, these organizations can focus their energy and resources on providing you the best programs, exhibits, and performances.

Support educational opportunities

Nearly 300,000 school children learn and grow from their visits to the organizations housed at Center in the Square. Over 44% of the school districts in Virginia bring their children to Center, some traveling from more than 3 hours away.

Support economic development

By combining multiple cultural and educational attractions in a central downtown location, Center in the Square has been a catalyst in the revitalization of Roanoke's downtown community. Center's annual economic impact, conservatively estimated at $25 million, can be seen throughout downtown. From the 240 businesses which have opened in the Historic City Market since Center's inception to the $450 million in construction and renovation projects in the downtown, Center has and continues to make a significant impact on the region's quality of life.

By naming Center in the Square among the beneficiaries of your:

* Will
* Retirement Account
* Life Insurance Policy
* Trust

you will ensure that this wonderful and unique place will stand forever as a monument to the power of imagination, the strength of public-private partnerships, and the vitality of the region.

The Legacy Society honors those far-sighted individuals who are ensuring a future for the arts and sciences with Center in the Square. They are leaving a legacy by designating Center as a beneficiary of their estates.

We cordially invite you to join The Legacy Society.

Any gift can be made in honor or memory of special loved ones. Consult your financial advisor today for planning advice that suits your needs.

1. Make an outright gift of cash or appreciated securities. The advantages to you include: your gift is 100% tax deductible for income tax purposes, and you can save on capital gains tax if the asset is appreciated. Outright gifts of real estate, property, and existing life insurance policies are also accepted and appreciated.

2. Include Center in the Square in your will. A bequest is the simplest and most popular way to make a planned gift. A bequest removes assets from your estate and reduces its exposure to federal taxes. You can designate Center in the Square to receive a percentage of your estate, the residuary of your estate, or a percentage of the residuary. The advantages to you include: you can maintain control of your assets during your lifetime and have them distributed as you desire upon death.

3. Name Center in the Square as a beneficiary of your retirement plan. Request the appropriate form from your plan administrator or human resource professional and include Center in the Square on your list of beneficiaries. Or name your spouse as the beneficiary of your retirement plan, who in turn can name Center as the eventual recipient. Gifting retirement assets to charitable organizations enables your heirs to avoid the high double taxation (in some cases 75%) that is associated with passing retirement assets on to non-charitable recipients.

4. Name Center in the Square as a beneficiary of your life insurance. Life insurance can be a convenient and cost effective way to make a substantial gift to Center. You can name Center as a beneficiary of your policy, name Center as the owner and beneficiary of a paid policy or use life insurance to replace assets contributed to Center.

5. Establish a Charitable Remainder Trust. A Charitable Remainder Trust uses assets that you contribute to generate income, which is paid to you, the donor, for your lifetime or a term of years. Based on the donor's desires, income is paid out in either a fixed amount or fluctuating amount based on market conditions. At the end of the term, the principal goes to Center in the Square. The donor receives a substantial tax deduction and may bypass capital gains penalties.

6. Establish a Charitable Lead Trust. The Charitable Lead Trust is a helpful method for passing assets to heirs with a reduced tax burden. Established by the donor with personal assets, a Charitable Lead Trust allows for Center in the Square to receive the investment income from the trust for a set term of years. At the end of the term, the principle is either returned to the donor or passed along to the donor's beneficiaries with tax savings.

Naming opportunities:
Center in the Square acknowledges and shows appreciation for the supporters of the Endowment Campaign who wish to be publicly recognized. Your generosity will inspire others to follow.

All naming opportunities are handled on an individual basis with the donor's complete participation. All of the opportunities listed below will associate you with the future of arts and sciences in western and central Virginia, and may also serve as a way to honor or memorialize a loved one.

The following areas within Center in the Square's main facility are naming opportunities:

* The Building - $6 million
* The Atrium - $2 million
* The Staircase - $1 million
* A Floor - $500,000
* The Boardroom - $250,000
* Campbell Avenue Entrance - $250,000
* Market Square Entrance - $250,000
* One Elevator - $100,000 (one elevator is endowed by Bank of America )
* A Hallway Bench $25,000

To ensure that Center in the Square remains operational, additional naming opportunities are available:

* Endowing the President & General Manager's Position - $500,000
* Annual Campaign Fund - $250,000
* Building Maintenance Fund - $50,000
* Marketing Fund - $50,000
* Security Fund - $50,000
* Unrestricted Fund - $50,000