Many of our supporters find planned giving gifts to be beneficial in achieving their financial and philanthropic goals. Planned gifts support the future of the World Awareness Children’s Museum and can provide steady income or generate tax savings — all boosting your ability to continue your legacy of support.
Many options are available for structuring a planned gift; here are four of the most popular ways to make a commitment to the museum’s future. We are available to discuss your goals and help you determine an appropriate gift plan to meet your interests and individual circumstances.
Qualified Charitable Distribution
Tax-wise gifts to World Awareness Children’s Museum
A Qualified Charitable Distribution (QCD) is a direct transfer of funds from your IRA custodian, payable to World Awareness Children’s Museum. QCDs can be counted toward satisfying your required minimum distributions for the year.
In addition to enjoying the benefits of giving to and supporting the museum, a QCD provides a tax advantage by excluding the amount donated through the QCD transfer from your taxable income.
Retirement Plans
Tax-wise gifts to World Awareness Children’s Museum
Qualified retirement plans are often the most tax-burdened assets one can own since they may be subject to multiple layers of taxation, including income and estate taxes when one dies. Designating these assets to World Awareness Children’s Museum enables an individual to make a significant gift while realizing substantial tax savings.
You can make World Awareness Children’s Museum a full or partial beneficiary or contingent beneficiary of your retirement plan, IRA, or donor-advised fund and leave more favorably taxed assets to family members.
Charitable Remainder Trusts
Gifts that also provide you income
A trust can be funded with various assets and can establish a lifetime of income to beneficiaries while allocating the remaining principal, upon trust termination, to benefit the World Awareness Children’s Museum. Trusts offer tremendous flexibility and can be tailored to personal circumstances.
Benefits to you:
- You may select your own trustee, including yourself.
- The trust will generate income on your gift for life or a term of years.
- Appreciated assets may be transferred to the trust to defer or reduce capital gains taxes.
- Receive a charitable income tax deduction in the year the trust is formed and assets in the trust are removed from your taxable estate.
Bequests
Gifts made through your will or trust
A will or trust is an important way to ensure that your estate is distributed according to your wishes upon your death. Bequests are gifts made through a will or trust and offer donors the opportunity to retain assets during their lifetime while making a meaningful contribution to the World Awareness Children’s Museum’s future. A bequest may be designed for a specific purpose and, in some cases, may be used to establish an endowed fund in the donor’s name. A bequest can include a specific amount or can be a percentage of the overall value of an estate. Bequests can easily be written when creating a will or trust, or by adding a one-page amendment to an existing will.
The Legacy Society is a special group of World Awareness Children’s Museum benefactors who have indicated support for the museum’s future with a planned gift commitment.
Why is gift planning important?
- It ensures the future success of the World Awareness Children’s Museum
- Documenting your intentions provides the museum with the opportunity to understand how you wish your gift to be used and to thank you for your commitment
What are the benefits of joining the Legacy Society?
- Make a meaningful, personal commitment to the museum.
- Receive an executive-level Annual Report including a Legacy Society report.
- Invitations to special events.
- Name recognition in museum publications, including the Annual Report and event publications.
- An exclusive lapel pin designating you as a member of the Legacy Society.
For more information about joining the Legacy Society, please call us at 518-793-2773 or email legacy@worldchildrensmuseum.org.
To make your commitment today, please complete this document and return it to us.
