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Planned Giving

Planned giving is often called “customized philanthropy” because each gift is designed to meet the strategic goals of the organization for the future while providing a benefit for the donor today. A well-planned gift communicates the legacy of its individual giver. It tells a story of what the donor found to be the most important and valuable in their life and community.

Consider these possibilities as you plan for your next gift

• Do you have an IRA that is overlooked or over-funded? If you are 70½ and older, you can instruct your IRA administrator to roll over a maximum of $100,000 a year to the Portland Art Museum. The benefit: eliminate income tax on retirement plan assets.
• Tap into one of the most valuable assets in your portfolio — your home or vacation home — and use this real estate to make a gift to the Portland Art Museum. The benefit: avoid capital gains tax and receive an income tax deduction.
• Consider turning highly appreciated securities into an outright gift or gift annuities. The benefit: reduce high tax liability now; income gained for life. In addition, deferred gift annuities allow you a larger deduction and higher income rate than other life income gifts.
• Consider making an endowment gift from income, rather than capital. An example: donate a paid-up life insurance policy that you no longer need. The benefit: increase your ability to make a significant gift to the Portland Art Museum with an asset you may not need.
• Do you have museum-quality works of art? The donation of important works of art to the Museum will ensure that the public will experience and enjoy them in perpetuity. The benefit: immediate tax benefits, based on appraised value.
• Avoid capital gains liability with gifts of appreciated stocks or bonds, or create a bequest in your will — this is a gift that costs you and your family nothing today but will provide a future estate tax deduction.

For information on all these strategies, contact J.S. May at 503-276-4272 or js.may@pam.org.

Guidance in Making a Planned Gift

The Portland Art Museum offers guidance in planning significant current or deferred gifts. Our gift acceptance policies help donors and their advisers understand the types of gifts that can be made to the Museum. You will also find a “real person” available when you call 503-276-4272 or email js.may@pam.org.

This synopsis introduces you to various ways you may give to the Portland Art Museum, including some of the potential financial benefits. It is not intended to provide specific advice about the legal or tax implications of charitable giving. Before making a gift to the Museum, we recommend that you consult with your accountant, legal counsel, or financial advisor for an analysis of your situation and possible tax consequences.