Your Estate and the Markaz
With thoughtful planning, you can benefit your estate while supporting the Markaz. Founded in 2001, the Center has become a vital aspect of life in Southern California, as a nonprofit organization that bridges Americans and the Middle East/North Africa with artistic and educational programs for adults and students.
Planned giving can be as simple as including a bequest provision in your will or naming The Markaz as a beneficiary of your retirement plan or life insurance policy. Your rewards will be more than the potential tax savings, for there is unparalleled personal and emotional satisfaction in helping to sustain an organization that builds community, fights racism and bias, unites cultures in conflict, and provides jobs. When you donate to a nonprofit organization, your contribution does not stop at the advancement of a single individual, but underwrites a network of many. This ‘machine' of effort and philanthropy makes your donation prolific, at any dollar amount. As an organization that promotes education and arts above all else, donations go forward to yield more information and resources that are orchestrated in our programs and sensibly delivered to an informed public.
Your testamentary charitable bequest ensures that your support of The Markaz will continue for years. It is possible to designate a special purpose or program for your bequest. Keep in mind that the specific needs of the Center may change, depending on what stage of development we achieve. Presently, the Center is broadening initiatives for ‘capacity building'-general development to help make our center into the landmark cultural arts complex that we envision for Southern California. Therefore, it could be recommended to authorize the Center to use the bequest for its general charitable purposes to best assist the development process that comes into fruition in the future. However, you can designate your bequest to a particular purpose such as one of the multidisciplinary aspects of the Markaz. Please contact us to ensure that your gift can be used as intended.
A bequest is for you if...
- You want to help ensure the future viability and strength of the Center.
- Long-term planning is more important to you than an immediate income-tax deduction.
- You want the flexibility of a gift commitment that doesn't affect your current finances.
Benefits of making a bequest
- Your assets remain in your control during your lifetime.
- You can modify your bequest if your financial situation changes.
- Making a charitable bequest can result in significant estate tax savings.
There are many types of Bequests:
Outright Bequest — The Markaz is given a specific dollar amount or a specific asset, such as securities or marketable real estate.
Residuary Bequest — The Markaz is given all or a percentage of the remainder of the estate after payment of all expenses of the estate and any other specific amounts bequeathed to other beneficiaries of the will.
Testamentary Trust — You may provide for income to be paid from the trust to a designated beneficiary, and after that individual's lifetime all or part of the principal passes to the Center.
Contingent Bequest - You may have family and friends for whom you feel a responsibility and choose to provide for them first in your will. The Center is given a bequest only if the designated beneficiarie(s) predecease you.
Specific purpose designations:
- Art: contemporary fine art curation, preservation, and art classes at the Inside/Outside Gallery
- Film: "New Voices" independent Middle Eastern film screenings and discussion series
- Literature: "Maktub: New Writing From/To the Mideast" monthly author events, support for the Levantine Review
- Education: Middle East education and coexistence programming
- Music: programming and workshops
- Language Classes: Arabic, Persian, Turkish, Greek, Armenian, Hebrew
- Theatre: development and production of Middle Eastern/American plays
- Unrestricted: General operating funds allow for necessary staff and overhead costs
* The Markaz is fiscally-sponsored nonprofit association affiliated with MPV (Muslims for Progressive Values), a tax-exempt nonprofit corporation as described under Section 501(c)(3) of the Internal Revenue Code. Gifts and Bequests to the Markaz are tax deductible to the full extent provided by law.