Types of Planned Giving

Giving Designations

Unrestricted – A gift with no restrictions enables the MAC Foundation to direct funds to the areas of greatest need identified by the Museum. 

Restricted – A gift designated for a specific purpose or program such as: 

  • Visual Arts 
  • History 
  • American Indian Culture 
  • Campbell House 
  • Education 
  • Archives and Library 
  • Collections Stewardship 
  • Exhibit Development 

Gifts can be made in the name of the donor, in honor or in memory of a family member or other loved one, anonymously, or added to an already-named endowment fund. We would be honored to help you choose the appropriate commemoration, including naming opportunities.   

Types of Planned Giving

Wills and Living Trusts

A charitable bequest is one of the easiest and most beneficial ways to leave a legacy to the causes you care about. 

In consultation with your financial advisor, you can make a bequest in your will or trust directing a gift to the MAC Foundation —whether as a specific dollar amount, a percentage of your estate, or from the residue of your estate. Making a charitable bequest ensures that your beneficiaries can take advantage of estate tax charitable deductions, thereby easing the tax burdens on your family and loved ones. 

Sample bequest language 

Specific sum of money: “I give to the MAC Foundation the sum of [exact dollar amount].” 

Residue of your estate: “I give to the MAC Foundation all [or a stated percentage] of the rest, residue, and remainder of my estate.” 

Contingent bequest: “If [name/s of primary beneficiary/ies] do/es not survive me, or shall die within ninety (90) days from the date of my death, or as a result of a common disaster, then I give to the MAC Foundation [exact dollar amount or percentage of residual estate]. 

IRA Charitable Rollover 

A Special Opportunity for Those 70½ Years Old and Older 

You can give any amount (up to a maximum of $100,000) per year from your IRA directly to a qualified 501(c)(3) charity without having to pay income taxes on the money. Gifts of any value of $100,000 or less are eligible for this benefit and you can feel good knowing that you are making a difference at your favorite charity or charities. This popular gift option is commonly called the IRA charitable rollover, but you may also see it referred to as a qualified charitable distribution, or QCD for short. 

Why Consider This Gift? 

  • Your gift will be used today, allowing you to see the difference your donation is making. 
  • Beginning in the year you turn 73, you can use your gift to satisfy all or part of your required minimum distribution (RMD). 
  • You pay no income taxes on the gift. The transfer generates neither taxable income nor a tax deduction, so you benefit even if you do not itemize your deductions. 
  • Since the gift doesn’t count as income, it can reduce your annual income level. This may help lower your Medicare premiums and decrease the amount of Social Security that is subject to tax.

Donor-Advised Funds 

A donor-advised fund (DAF) is a named charitable giving account you can set up under a public charity, most often through a sponsoring financial or community institution such as Schwab Charitable, Fidelity Charitable, or Innovia Foundation, among others. To set up a DAF, you make an irrevocable gift of cash or other assets to the financial or community institution and receive a tax deduction. As a “donor-advisor,” you may then make non-binding grant recommendations to benefit the charities you care about. 

The MAC Foundation is happy to accept gifts from donor-advised funds. Simply contact your sponsoring financial or community institution to recommend a grant to the MAC Foundation. 

Questions? Contact Will Simons at (509) 363-5304 or email him at will.simons@northwestmuseum.org

Gifts of Stock 

We encourage you to speak with your financial advisor about how to manage your stock gifts. 

The most efficient way to facilitate a gift of stock is to contact Will Simons at (509) 363-5304 or at will.simons@northwestmuseum.org to receive our account and transfer information. We will provide the details you need to direct your broker to transfer a gift of securities electronically. We will then notify you when the gift officially arrives and process the gift acknowledgment you will need for your tax records. 

Gifts of Real Estate 

Gifts of real estate to the MAC must be approved by the MAC Foundation Board of Directors before being accepted. To discuss your gift of real estate, contact Will Simons at (509) 363-5304 or email him at will.simons@northwestmuseum.org

Insurance Beneficiary Designations 

If your life insurance policy is no longer needed to support your beneficiaries, it can be turned over as a charitable gift. By naming the MAC Foundation as a beneficiary, the policy will be included in your taxable estate, and you will receive an estate tax charitable deduction for the value of the gift. 

Your investment today is the MAC's future.