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Tax Season Spurs 2020 Whirl Gala
Charitable Giving Ideas EVENTS Moving Downtown
Tax season is an ideal time to consider how you can The Women’s Board and the Board of
provide valuable support to the Chicago Zoological Trustees of the Chicago Zoological Society
Society (CZS). With restrictions on itemized (CZS) will host its 39th annual black-tie gala on Saturday,
deductions, you can no longer deduct your April 25. For the first time, this exciting event will be held
charitable gifts; however, you can continue your downtown at the Sheraton Grand Chicago. Come for the
charitable giving by using one of the following party and stay for the weekend! The Sheraton is offering
smart tax modes. discounted room rates for party attendees.
IRA– Individuals who are 70½ and older qualify to The Whirl is CZS’s largest fundraiser of the year, typically
make a charitable distribution from an IRA directly attracting more than 700 corporate, civic, and philanthropic
to CZS. Though a deduction is not allowed for a leaders from throughout the Chicago area. Co-chairs of the
qualified charitable distribution, a gift can take the event are Stephanie Bryan Kangas, First Vice President of the
place of part or all of the required minimum Women’s Board, and Randall G. Vickery of the Executive
distribution you must take in a given year. Most Committee of CZS’s Board of Trustees. The theme “Rain
important, you don’t have to pay taxes on a donated Forests of the Whirl” will highlight one of our most valuable
amount up to $100,000 annually. resources—rain forests and the animals that inhabit them.
Charitable Gift Annuities– You can receive fixed The evening will begin at 6:30 p.m. with a cocktail hour
payments for life. Gift annuity rates are attractive, featuring up-close experiences and photo opportunities with
especially for a one-life gift annuity; rates for two-life many of the zoo’s Animal Ambassadors. After a delicious
annuities are slightly lower. A portion of your annual dinner, guests can enjoy dancing to the music of Maggie
payment may be tax-free. The charitable deduction Speaks, one of Chicago’s most popular cover bands. The
available for arranging a gift annuity may enable you band’s eclectic repertoire includes the current Top 40, as well
to itemize on your next income tax return. Payments as popular hits from the 80s and even the 50s. Festivities—
can begin this year, or you can delay the start-up date including a live auction, raffle, and paddle raise—will
to a later year, which will increase both the annuity continue until midnight.
amount and the charitable deduction. Proceeds from the Whirl support the animals at Brookfield
Gifts of Appreciated Assets– Shares of stock that Zoo, as well as the Society’s conservation, education, and
have grown in value and have been held for more research programs. Tickets are $700 per person; tables of 10
than one year are a tax-smart gift. When stock is are also available and start at $7,000. For tickets or further
transferred to a charitable organization, you avoid information, call (312) 553-2000 or (708) 688-8670, or visit
paying capital gains tax that would be owed pjhchicago.com/event/zoo.
otherwise. Visit our website at CZS.org/
plannedgiving for further information.
For details on how you can become part of the
Edith Rockefeller McCormick Society, email us at
EdithRockefellerMcCormickSociety@CZS.org
or call (708) 688-8174.
12 GATEWAYS | NEWS BITES
