Legacy Giving with Northern Lakes
Arts Association
Transform Assets into a Lasting Legacy for the Arts
Your assets—whether stocks, properties, vehicles, or other valuables—can play a vital role in advancing the arts and enriching lives in Ely and beyond. By donating non-cash assets to Northern Lakes Arts Association (NLAA), you can support creative programming while benefiting from significant financial and tax advantages.
Why Donating Other Assets is a Good Thing
Non-cash gifts are not just a way to support NLAA—they’re a powerful opportunity to make a lasting impact while aligning your financial goals with your passion for the arts.
-
Maximize Tax Benefits. Many non-cash assets, such as appreciated stocks, avoid capital gains taxes when donated directly to a nonprofit. In addition, you may receive a charitable tax deduction for the full market value of the gift.
-
Make a Meaningful Impact. Your donation helps NLAA continue to offer inclusive arts programming, support local artists, and create cultural experiences that strengthen the community.
-
Flexibility. Gifts of various assets—from real estate to vehicles—allow you to support the arts in ways that make the most sense for your financial situation.
-
Ease of Giving. Non-cash asset donations can simplify the process of managing or liquidating certain holdings.
Your thoughtful gift of assets ensures the arts remain a cornerstone of life in the North Country, inspiring generations to come.
Types of Assets You Can Donate
-
Stocks and Securities. Avoid capital gains taxes and claim a deduction for the full fair market value of the donated shares.
-
Real Estate. Properties such as homes, vacation cabins, or undeveloped land can provide significant support for NLAA’s mission while reducing your taxable estate.
-
Vehicles. Cars, trucks, RVs, and boats can be donated to support arts programs while freeing you from the responsibilities of ownership.
-
Valuable Personal Property. Artwork, jewelry, or other items of value can be donated to support NLAA’s work and may qualify for a tax deduction.
Why NLAA?
Northern Lakes Arts Association has been a beacon of creativity in Ely, MN, for almost four decades. From theater camps and dance classes to professional productions and community events, NLAA brings the transformative power of the arts to people of all ages. Your donation of assets helps ensure this vital work continues, fostering creativity, connection, and culture in the North Country.
How It Works
-
Assess Your Assets. Determine which assets you wish to donate, keeping in mind their market value and any potential tax implications.
-
Contact NLAA. Reach out to us to discuss your intended gift. We’ll help you understand the process and ensure your donation aligns with your intentions.
-
Transfer Ownership. For stocks and securities, your broker can transfer shares directly to NLAA. For real estate or vehicles, we’ll guide you through the necessary paperwork.
-
Enjoy Tax Benefits. Depending on the asset, you may receive a charitable deduction for the full market value and avoid certain taxes.
-
Make an Impact. Your gift will directly support NLAA’s programs, creating lasting opportunities for artists and audiences alike.
Let’s Plan Your Gift
We’re here to make the process of donating non-cash assets as seamless as possible. Whether you’re considering stocks, property, or other valuables, we’ll work with you to create a plan that meets your goals and maximizes your impact.
Contact us:
Email: contact@northernlakesarts.org
Phone: (218)-235-9937
Thank you for your generosity and vision. Together, we can shape a vibrant, creative future for Ely and beyond.