Types of Gifts
The Maggy Ryan Legacy Society | Putting a Face on Planned Giving | Plan Your Gift | Types of Gifts | Contact Us
Planned giving terms can be confusing. To help you understand the many opportunities planned gifts offer, please look through the glossary below.
Bequests
Leave
your legacy by making a gift in your will to friends, family and
charitable organizations. A bequest is one of the simplest ways to
remember the charities you care about most. Please click here to visit our sample bequest language.
Charitable Gift Annuity
The concept of the charitable gift annuity in America dates back to
1843, when a merchant in Boston first donated a gift of money to the
American Bible Society in exchange for a flow of income. Today, the
concept includes valuable tax benefits for donors. But perhaps more
valuable than the financial advantages is the satisfaction donors gain
by helping to continue our support of the museums.
Retained Life Estate
One of your valued possessions, your home, can become a valued gift to
us even while you are still living in it, and even if you want your
spouse or other survivor to live there for life. This arrangement is
called a retained life estate.
Charitable Remainder Trust
What are your plans for the future? While there is no single way to
achieve all of your personal and financial goals, there is one strategy
that can meet many of your needs. It's called a charitable remainder
trust. In the right circumstances, this plan can increase your income,
reduce your taxes, unlock appreciated investments, rid you of
investment worries and ultimately provide very important support.
Charitable Lead Trust
If your goal is to provide an inheritance for your children, but you
would also like to make a significant charitable gift through your
estate, find out how a charitable lead trust can help you satisfy both
objectives. It's a charitable lead trust that can provide a significant
charitable gift through your estate and provide an inheritance to your
children.
Gifts of Life Insurance
You
can donate a life insurance policy to us or simply name us as the
beneficiary. For the gift of a paid-up policy, you will receive an
income tax deduction equal to the lesser of the cash value of the
policy or the total premiums paid. To qualify for the federal
charitable contribution deduction on a gift of an existing policy, you
must name us as owner and beneficiary.
Gifts of Real Estate
If
you own property that is fully paid off and has appreciated in value,
an outright gift may be the simplest solution. You can deduct the fair
market value of your gift, avoid all capital gains taxes and remove
that asset from your taxable estate. You can transfer the deed of your
home or farm to us now and keep the right to use the property for your
lifetime and that of your spouse.
Gifts of Securities: Closely Held Stock
Closely
held stock, that which is not publicly traded, can also be used as a
charitable gift even if you want to maintain a control position in the
stock.
Gifts of Securities
The
best stocks to donate are those that have increased greatly in value,
particularly those producing a low yield. Even if it is stock you wish
to keep in your portfolio, by giving us the stock and using cash to buy
the same stock through your broker, you will have received the same
income tax deduction but will have a new, higher basis in the stock.
Gifts of Cash
The
simplest way to give. However, you can deduct a cash gift for income
tax purposes only in the year in which you contribute it. Your cash
gifts are deductible up to 50 percent of your adjusted gross income for
the taxable year, but any excess is deductible over the next five
years.
Gifts of Retirement Plan Assets
Did
you know that nearly half your retirement plan assets could be eaten
away by taxes at your death? Learn how to preserve more of your estate
for the people and organizations that matter most in your life.
Click here
to try GiftCalcs, a charitable deduction calculator for a number of
types of planned gifts. It is a tool you can use to view sample
calculations based upon parameters that you define. Any information
entered is secure and confidential. For details about specific planned
gift arrangements, contact your attorney or tax advisor.
For information about gifts that provide lifetime income, about including a bequest in your will, or about the Maggy Ryan Legacy Society, contact Kathryn Wroth, Director of Development, at (505) 982-6366 ext. 102 or email kathryn@museumfoundation.org. Your inquiry is confidential.