LEGACY SOCIETY | APRIL 2024

Ways to Save Taxes and Grow Your Income

Your generosity has enabled the museums we support to curate exceptional exhibitions, preserve our diverse cultural heritage and provide educational programs that inspire and enlighten our community. When considering making a charitable gift through the Foundation, here are some ways for you to consider that may also help you save on taxes and grow your income:

The Basics

Appreciated Stock - Easily make charitable gifts to the institutions you love by transferring appreciated stock to the Museum of New Mexico Foundation. We receive the present value of the stock, while you pay no capital gains tax and receive an income tax deduction.

Qualified Charitable Distribution (QCD) - If you are aged 70½ or older there is another powerful tool that you are uniquely positioned to leverage for your benefit. This is called a Qualified Charitable Distribution (QCD) or IRA Charitable Rollover. A QCD allows you to donate up to $100,000 directly from your IRA to a qualified charity such as ours, without having to include the distribution in your taxable income.

Income for Life

Charitable Gift Annuity – This type of gift will provide you with fixed income payments for life and possibly provide capital gains benefits. For more information, click here.

Charitable Remainder Unitrust – Another option that can pay you a life income with possible tax benefits is a Charitable Remainder Trust. Click here for more information.

Click here or ask for our free resources on estate planning and ways to give. Benefits of making a gift to support the Foundation and the cultural institutions we support may include income tax, capital gains tax and estate tax deductions or reductions. In whatever ways you choose to support the Foundation, we are here to help you explore all options to find the gift that is right for you and your family.

You may reach out to Laura Sullivan, Director of Planned Giving, at 505.216.0829 or laura@museumfoundation.org and we can help you get started to make the difference you want.