Undermain Theatre created an Endowment Fund in 2009. It is deposited at and managed by The Dallas Foundation.
Endowment Funds provide non-profit organizations with a foundation of financial stability—a long-term savings account. Only a portion of the interest earned is distributed to Undermain each year, keeping the corpus intact. Endowment funds will ensure that Undermain Theatre is able to budget with confidence, knowing that a portion of its annual expenses will be covered. It will also allow Undermain to grow and not be totally dependent on ticket sales and charitable donations to meet its operating and capital needs.
The most common gifts to an Endowment Fund are through a donor’s estate plan—specifically a Life Insurance distribution to the organization as a beneficiary or a percentage, specific dollar amount or residual left to an organization in a donor’s Will. If you wish to name Undermain as a beneficiary of your Life Insurance policy, just contact your insurance company and complete the paperwork to change the beneficiary. If you wish to leave Undermain in your Will, please take the following to your attorney or estate planner.
Sample wording for will.
I give, devise, and bequeath [10% of my Estate, after taxes and debts have been satisfied] OR [a specific dollar amount] OR [all the rest, residue, and remainder of my property, real, personal, or mixed; after all personal bequests have been made] to Undermain Theatre, a Texas nonprofit corporation, EIN #75-1961619, located at 3200 Main Street in Dallas, Texas 75226.