Las Vegas Couple Supports Future of the Arts with Planned Giving

Krista and Rick Darnold

Krista and Rick Darnold

Krista and Rick Darnold started to focus on estate planning when they were just 35 and 45 years old. The Las Vegas couple made certain to include planned giving donations in this process.

“I have always been inspired by my parents,” explains Krista, adding that her parents were passionate community supporters in her hometown of Wichita.

Rick attributes his appreciation for the importance of community support to Boyd Gaming executives Bill Boyd and Don Snyder — also chairman of The Smith Center board — who he considers his mentors.

“I worked for Mr. Boyd for almost 30 years, and for Don Snyder during his time at Boyd Gaming,” says Rick, senior vice president for Boyd Gaming. “Giving back to the community was ingrained in our company, and I came to realize how important it was to support the community.”

It’s for these same reasons that Krista and Rick are pursuing planned giving with The Smith Center.

Planned giving — any charitable contribution that involves financial planning — is essential for nonprofits like The Smith Center to sustain operations far into the future.

People can pursue planned giving in many forms, including leaving donations in a will, or donating stock or real estate.

Individuals can plan for these gifts at any age, as demonstrated by the Darnolds.

For Rick and Krista, a Las Vegas native and a 17-year resident, respectively, pursuing planned giving with The Smith Center was an obvious choice.

“We want future generations to be influenced by the arts and culture The Smith Center delivers,” Krista says. “That’s why we are including The Smith Center in our estate plans.”

Supporting The Smith Center’s Future

Krista and Rick are excited to continue their support of The Smith Center to ensure the shows and programs they love will exist for future Southern Nevadans to enjoy.

“It’s such a beautiful facility that offers our community such a variety of entertainment and experiences, along with such amazing arts education programs,” says Krista, senior director of industry relations at the Las Vegas Convention and Visitors Authority.

Krista is not only a former Smith Center employee, but also an advisor of the center’s Fanfare! affinity group. She also serves on the center’s President’s Advisory Council.

For Rick, The Smith Center has continued to introduce the couple to dazzling theater, music and dance shows.

Their favorites span musicals in the Broadway Las Vegas Series, Las Vegas headliners like Brody Dolyniuk and his Symphonic Rock Show, and even the PBS filming of Postmodern Jukebox in Myron’s Cabaret Jazz.

“The Smith Center exposes me to a lot of things I wouldn’t otherwise experience,” Rick says.

Joining the Encore Society

By contributing a planned gift, the Darnolds join the Encore Society at The Smith Center, which includes a variety of lifetime benefits.

Their planned gift also allows them to play a direct role in providing the arts to Southern Nevadans for many years to come.

“The Smith Center is a legacy project,” Krista says.

Learn More

To learn more about supporting The Smith Center with planned giving, contact The Encore Society at 702-749-2354 or EncoreSociety@thesmithcenter.com.

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A charitable bequest is one or two sentences in your will or living trust that leave to The Smith Center a specific item, an amount of money, a gift contingent upon certain events or a percentage of your estate.

an individual or organization designated to receive benefits or funds under a will or other contract, such as an insurance policy, trust or retirement plan

"I give to The Smith Center, a nonprofit corporation currently located at 361 Symphony Avenue, Las Vegas, NV 89106, or its successor thereto, ______________* [written amount or percentage of the estate or description of property] for its unrestricted use and purpose."

able to be changed or cancelled

A revocable living trust is set up during your lifetime and can be revoked at any time before death. They allow assets held in the trust to pass directly to beneficiaries without probate court proceedings and can also reduce federal estate taxes.

cannot be changed or cancelled

tax on gifts generally paid by the person making the gift rather than the recipient

the original value of an asset, such as stock, before its appreciation or depreciation

the growth in value of an asset like stock or real estate since the original purchase

the price a willing buyer and willing seller can agree on

The person receiving the gift annuity payments.

the part of an estate left after debts, taxes and specific bequests have been paid

a written and properly witnessed legal change to a will

the person named in a will to manage the estate, collect the property, pay any debt, and distribute property according to the will

A donor advised fund is an account that you set up but which is managed by a nonprofit organization. You contribute to the account, which grows tax-free. You can recommend how much (and how often) you want to distribute money from that fund to The Smith Center or other charities. You cannot direct the gifts.

An endowed gift can create a new endowment or add to an existing endowment. The principal of the endowment is invested and a portion of the principal’s earnings are used each year to support our mission.

Tax on the growth in value of an asset—such as real estate or stock—since its original purchase.

Securities, real estate or any other property having a fair market value greater than its original purchase price.

Real estate can be a personal residence, vacation home, timeshare property, farm, commercial property or undeveloped land.

A charitable remainder trust provides you or other named individuals income each year for life or a period not exceeding 20 years from assets you give to the trust you create.

You give assets to a trust that pays our organization set payments for a number of years, which you choose. The longer the length of time, the better the potential tax savings to you. When the term is up, the remaining trust assets go to you, your family or other beneficiaries you select. This is an excellent way to transfer property to family members at a minimal cost.

You fund this type of trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. You can also make additional gifts; each one also qualifies for a tax deduction. The trust pays you, each year, a variable amount based on a fixed percentage of the fair market value of the trust assets. When the trust terminates, the remaining principal goes to The Smith Center as a lump sum.

You fund this trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. Each year the trust pays you or another named individual the same dollar amount you choose at the start. When the trust terminates, the remaining principal goes to The Smith Center as a lump sum.

A beneficiary designation clearly identifies how specific assets will be distributed after your death.

A charitable gift annuity involves a simple contract between you and The Smith Center where you agree to make a gift to The Smith Center and we, in return, agree to pay you (and someone else, if you choose) a fixed amount each year for the rest of your life.

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