Plan Your Legacy
Legacy gifts strengthen the Museum’s endowment, provide much-needed annual income, and support its extraordinary collection and acclaimed educational programs. By including the Museum in your long-term plans, you can achieve the goals that are important to you—to benefit yourself, your family, and an institution that you value and believe in. In addition to a bequest in your will, there are other ways you may make a legacy gift. You can name the Museum as a beneficiary of your retirement plan, or life insurance policy. If you are looking for a way to supplement your income, you can establish a charitable gift annuity, or a charitable remainder trust, which are gifts that will support the Museum and pay you, and/or other designated beneficiaries, income for life. The Museum’s easy-to use Planned Giving Calculator can provide you with an illustration of the income and tax benefits to which you may be entitled if you make a planned gift to the Museum. All those who have established a planned gift are recognized with membership in the Fiske Kimball Society.
BequestsOne of the easiest and most popular ways to make a planned gift is to include the Philadelphia Museum of Art in your will or revocable living trust.![]()
“works that together teach about history and about beauty”
— Dr. Alvin O. Bellak
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Charitable Gift AnnuitiesA Charitable Gift Annuity provides you with regular fixed payments annually (an annuity) for life in exchange for transferring assets to the Museum.![]()
“For us, the absence of art would be dreadful. We wanted to do something significant ... ”
— The Rochbergs
Gift Annuity Rates - Single Life
Rates are effective as of January 1, 2017, and are recommended by the American Council on Gift Annuities.
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Charitable Remainder TrustsA Charitable Remainder Trust is an agreement between you and a trustee that can provide fixed or variable income to meet your specific financial needs, at the termination of which the remaining assets are passed to the Museum.![]()
“You don’t need vast wealth to make a difference—a lot of people can be part of something important.”
— The Sabatinos
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Charitable Lead TrustsA Charitable Lead Trust enables you to preserve a portion of your estate and pass assets tax-free to your heirs.
This arrangement provides income to the Museum for a period of years, after which the trust property typically passes to the donor's heirs. Income-producing assets that are expected to gain in value such as stock or real estate are irrevocably transferred to a trust. The Museum receives income from the trust for a specified number of years, after which the property in the trust is transferred to the heirs without the imposition of any additional taxes.
An immediate charitable deduction on your gift tax return is available for the present value of the total income stream the Museum will receive during the trust term.
This gift can reduce or effectively eliminate the gift and/or estate tax that would normally be payable on the transfer of these assets to your heirs.
Use our Planned Giving Calculator. The calculator is designed to provide you with an illustration of the income and tax benefits to which you may be entitled if you establish a charitable lead trust to benefit the Museum.
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Gifts of Plans and PoliciesIRAs and qualified retirement plans like 401(k)s are some of the best assets to leave to charity. You may also designate the Museum as owner and/or beneficiary of a life insurance policy.Gifts of Tax-Deferred Retirement PlansPeople are often surprised to learn that the assets they thought would pass to their heirs are among the most heavily taxed in their estates. The combination of federal income, estate and excise taxes can seriously erode the value of retirement savings when received by an heir. Designating the Philadelphia Museum of Art as a beneficiary or contingent beneficiary of all or a specified percentage of your 401K or other retirement plan assets can save your estate both income and federal estate taxes. The process is easy. You can leave a percentage of your retirement assets or a specific dollar amount. Just notify your plan’s administrator of your intention and complete a “change of beneficiary” form.Gifts of Life Insurance PoliciesYou may also designate the Museum as owner and/or the beneficiary of a life insurance policy—either a new policy or an existing one that you and your family no longer need. Simply contact your retirement plan administrator or insurance agent and ask for the appropriate forms. |
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Gifts of Real EstateThe gift of your primary residence or a vacation home is a unique and meaningful way to support the Museum.
You may leave your home to the Museum as a bequest in your will, or you may consider donating it now, but retaining the right to live in your home for your lifetime.
Real estate is also an attractive asset when used to establish a Charitable Remainder or Charitable Lead Trust.
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For more information, please contact Development by phone at 215-684-7750, by fax at 215-236-0796, or by e-mail at .