Legacy | April 2026

Are you looking for a tax-wise way to donate to MNMF?

With the new tax law changes in effect for 2026, it is important to be aware of the opportunities and limitations involved when making charitable contributions, according to Museum Foundation Trustee and Treasurer, John Macukas, CFP.

Donating appreciated securities, including stocks, mutual funds and exchange traded funds to name a few, directly to a charity may be one of the most tax-smart ways to complete your charitable gift or pledge. In addition to avoiding capital gains if you were to instead sell the stock and contribute the cash proceeds, you may also be eligible for a tax deduction on the full appreciated value of the securities.

Depending on how much the value of your securities has been appreciated over time, you might even be making your gift with profits rather than your original principal, thus keeping your original investment intact.

Museum of New Mexico Foundation make it very easy to gift stock, and they will provide a confirmation letter detailing and acknowledging the gift at the same time.

Just remember that gifting the stock directly to charity avoids the individual having to pay capital gains tax AND they may be eligible to deduct the full fair-market value of the stock from their income taxes, up to the overall amount allowed by the IRS.

The tax laws for 2026 have changed.

Starting in 2026, those who itemize their tax deductions may only deduct charitable gifts that exceed 0.5% of your adjusted gross income (AGI).  If you do not itemize your taxes and instead claim the standard deduction, the charitable deduction may still be available $1,000 ($2,000 for joint filers).

However, taxpayers age 70½ or older might choose to make their charitable gift directly from their traditional IRA.

In addition to avoiding income tax if you were to instead take a distribution from the IRA and contribute the cash proceeds (which may or may not be tax deductible depending on your AGI), you may also be able to satisfy a portion of your Required Minimum Distribution as a qualified charitable deduction (QCD), which the 0.5% AGI floor rule does not affect.

Another giving option may be to “bunch” a larger one-year contribution to a donor-advised fund — making one large gift every few years — to clear the AGI floor and maximize their deductions.  You may wish to consult with your tax advisor about this and any of the charitable giving strategies mentioned here.

John Macukas, Foundation Trustee, and his wife Mary made generous gifts of stock. He stated his reasons why, “We believe that the cultural life of a city is defined in large part by its museums. Through our contributions, we hope to help our museums continue to offer public access to art, education, entertainment, and community interaction. Our museums enrich our daily experience, guide us in our search for beauty, inform our understanding of the world, give form to our ruminations, and help us build more enlightened and meaningful lives.”

For more information about donating through stocks and bonds, or making a planned gift, please contact Laura Sullivan, Director of Planned Giving at laura@museumfoundation.org or 505.216.0829 or visit our website.