PLANNED GIVING
American Friends of Museums in Israel
A 501(c) 3 organization: EIN#23-7443023
In consultation with experts in philanthropic planning, we can objectively discuss with you everything from an outright gift to American Friends of Museums in Israel in your Will to more advanced strategies that can benefit you and/or your family.
Bequests
Please consider remembering American Friends of Museums in Israel in your will. Such a gift might read:
“I give to the American Friends of Museums in Israel, now or formerly located at 405 Lexington Avenue, 7th Fl., Suite 721, New York, NY 10174
the sum of $______________
all (or __________ percent) of the rest, remainder and residue of my estate
or
an important work of art described in detail as follows: (Artist, Title, Date, Size & Medium) to be used for its general purposes.”
Other provisions of your Will may need revision. Please consult your own tax or legal advisor.
You can also name American Friends of Museums in Israel as the beneficiary of a life insurance policy, "transfer on death" brokerage account or retirement plan.
Advanced Strategies
Charitable Remainder Trust and Gift Annuity
Outright gifts provide a clear and immediate benefit to American Friends of Museums in Israel. The benefit you receive is in reduced taxes and the pleasure you would take in making the gift. There are other more complicated techniques you can use to benefit both American Friends of Museums in Israel and you or your family. Very broadly speaking, if you have an asset that would generate a large taxable gain if sold and you are not comfortable giving it away in its entirety to American Friends of Museums in Israel, there are a number of ways you can convert it to an income stream (in the form of a “Charitable Gift Annuity” from American Friends of Museums in Israel or payments from a “Charitable Remainder Trust” you control). The benefit you receive is exchanging an asset for an income stream as you receive it rather than all upfront when the exchange is made. The tax deferral aspect of these arrangements can sometimes put you in a better position than if you had kept and sold the property. The benefit to American Friends of Museums in Israel is keeping whatever property is left over when the income stream ends, generally when you or your spouse pass away.
Charitable Lead Trust
If you already have a large estate and have assets you expect to appreciate making your estate tax predicament “worse,” you can set up a trust you control (a “Charitable Lead Trust”) and gift American Friends of Museums in Israel an income stream from the trust (normally a fixed amount for a fixed number of years based on an IRS interest rate and a complex calculation) and have your descendants keep whatever is left over in the trust, if anything, when the income stream ends. The benefit to American Friends of Museums in Israel is the income stream. The benefit to your family is the tax-free gift that can be made to them at the end of the income stream if the property appreciates more than the IRS interest rate and the calculations.
Contact Us
Enid Shapiro, Executive Director
(917) 970-8846
eshapiro@museumsinisrael.org