You can use a wide variety of assets to make a charitable planned gift. The United States Holocaust Memorial Museum most commonly receives the following types of assets, one of which may be ideal to accomplish your financial and estate planning objectives.
Gifts of cash are simplest and most common gifts to the Museun. You may claim an income tax charitable deduction for the full value of your cash gift up to 50% of your adjusted gross income. If you are unable to use your entire deduction in one year, you may carry over and deduct the excess for up to five years.
Giving marketable securities that have appreciated in value is an especially prudent and economical way to support the Museum. Gifts of long-term appreciated stock or mutual funds offer a quick, easy and tax-efficient way to make a lasting contribution to the Museum. The benefits include:
Income Tax Savings – You may be entitled to an income tax charitable deduction of up to 30 percent of your adjusted gross income. The excess can be carried forward for up to 5 years.
Capital Gain Tax Savings – Avoid capital gain taxes you would have incurred if you had sold the securities.
Receive Income – By funding a life-income gift such as a Charitable Gift Annuity with securities, you could receive income during your lifetime.
To give a stock gift, follow instructions and submit the form.
Closely-held securities are often highly appreciated, especially if the corporation has grown from an individually owned or family-owned company. The potential capital gains tax on the stock's appreciation may make a sale unattractive. By giving closely-held stock to the Museum, you could receive an income tax deduction for its full fair market value and avoid all capital gains tax.
Your IRA 401(k) or other qualified retirement plan may be heavily taxed if left to anyone other than a spouse. By naming the Museum as a beneficiary of all or a portion of a retirement plan, you avoid both the estate tax and the income tax that would be due on these tax-deferred plans if distributed to your heirs. Retirement plan assets also may be ideal for funding a charitable remainder trust to provide income to a loved one after your lifetime.
Click here for instructions on naming the Museum as a beneficiary of retirement plan assets.
If you have a life insurance policy you no longer need, you might want to consider transferring ownership to the Museum. You may also purchase a new policy, and then assign it to the Museum as the owner and beneficiary. A gift of an existing policy could generate an income tax charitable deduction, and annual contributions to the Museum in an amount equal to any insurance premiums will also enable you to claim income tax charitable deductions. Please contact the Museum to determine whether the type of insurance policy you are contemplating donating is acceptable.
There are many ways to make a gift of real estate to the Museum. If you are considering a gift of real estate, please call the Museum's Director of Planned Giving at 202.314.1748. We would be glad to explore with you how such a gift might help you combine your charitable and financial objectives. The Museum must approve and accept any gift of real estate before the transfer of any real property may be finalized.