Tax-saving Opportunity for Donors aged 70½ and older

The charitable IRA rollover legislation allows those age 70½ and older to a make a gift up to $100,000 using funds from their individual retirement account (IRA). A gift of this nature satisfies the minimum distribution requirement rule and is excluded from your income for federal tax purposes. This opportunity is only available through Dec. 31, 2011. For more information, please call (505) 982-6366 ext. 113.

Planned Giving

The term "planned giving" refers to any major gift that involves financial or estate planning. If you are considering making a planned gift, it is wise to explore the various ways a gift can be structured to provide the financial benefits that suit you best. We encourage you to use the tools below to begin planning your gift and then talk to a financial professional.

• Gift Calcs Charitable Deduction Calculator
• Letter of Intent with Sample Bequest Language

Types of Estate Gifts

Bequests
The simplest way to make a planned gift is through a bequest. A bequest is a provision in a will or living trust that directs funds or assets to the Foundation. Your bequest can provide general operating income for the Foundation or to support a specific museum. Bequests can be made with gifts of cash, appreciated securities, art and artifacts or real estate.

Gifts of Life Insurance
Name a Museum the beneficiary of an existing life insurance policy that is no longer needed to provide for dependents.

Gifts of Retirement Plan Assets
Designate a Museum as a beneficiary of all or a specified percentage of a retirement plan. Retirement assets generally considered suitable for charitable gifts include such plans as IRAs, Keoghs, SEPs, 401(k)s, 403(b)s and ESOPs.

Charitable Gift Annuity
A charitable gift annuity is a way to make a gift to the Foundation and still receive an income for yourself or others. It is a contract under which the Foundation, in return for a transfer of cash or other property, agrees to pay a fixed sum of money for a period measured by one or two lives.

Charitable Remainder Trust
A charitable remainder trust provides income, generally no less than five percent, to a beneficiary for the term of the trust. When the trust terminates, any remaining principal and interest income is distributed to the Foundation.

Charitable Lead Trust
A charitable lead trust provides the Foundation with a guaranteed annual income or use of a specific property for a given number of years. When the trust is terminated, the principal or property reverts back to the donor or the estate. A lead trust gives reliable income to the Foundation and can provide a reduction in gift or estate taxes when transferring property to others.

For more information contact Bonnie McLeskey at (505) 982-6366, ext. 113

Information contained on this website is not a substitute for legal or tax counsel. Appropriate legal, tax, accounting and financial assistance should be sought in connection with any gift planning.