A Special message from Bowers Trustee and Legacy
The Kennedy Legacy Circle has been established by the Bowers Museum for many, many years to come. We are eager to help educate our members, donors and the public on how to help secure the growth and development of education and exhibition programs at the Bowers Museum while still providing for their loved ones.
As a member of the Kennedy Legacy Circle, I believe in the mission of the Bowers Museum to "enrich lives through the world's finest arts and cultures." The Bowers is happy to recognize individuals who make a charitable gift through planned giving of bequest, charitable gift annuity, charitable trust, will, estate or endowment. A single call to my investment company and I received a new Benificiary Designation form for my IRA. I added the Bowers Museum as a beneficiary, signed and mailed the form. Very straight forward and rewarding.
This is your opportunity to make a difference in our community and leave a legacy. I hope you will join me and consider becoming a founding member of the Kennedy Legacy Circle of the Bowers Museum.
Planned Giving is a way for you to integrate your personal, financial and estate planning goals by making lifetime or testamentary chariable gifts. Here are some common types of planned gifts:
Bequest and Wills
A bequest is a gift made through your will or trust. A Bequest is the simplest type of planned gift for you to make and one of the easiest to implement.
Goals and Benefits
You may desire to support charity but are unable to make gifts during your lifetime. You can maintain control of your assets during your lifetime, and then make a gift to charity at your death.
Life Estate Reserved
You give your property to the Bowers Museum but retain the right to use the property during your life.
Goals and Benefits
You want to remain living in your home and desire a current income tax deduction.
Charitable Gift Annuity (CGA)
You make a gift of cash or property to us in exchange for our promise to pay you fixed income (with rates based on your age) for the rest of your life.
Goals and Benefits
You want to make a gift to the Bowers Museum and receive fixed income for the future. This plan works well with your gift of cash or appreciated stock that is providing little or no income. Avoid capital gains tax on the sale of your appreciated property and enjoy the benefit of tax savings from a charitable deduction.
Charitable Remainder Trust (CRT)
You tranfer your cash or property to fund a trust that makes payments for your lifetime or a number of years and then passes what remains to the Bowers Museum.
Goals and Benefits
You own appreciated property that produces little or no income and would like to sell without paying capital gains tax. Enjoy a regular income for life or a term of years and receive the benefit of tax savings from a charitable deduction.
Gift of Life Insurance
The gift of life insurance can be made by simply naming us as the beneficiary of your policy. Your life insurance proceeds will help further our good work and your estate will benefit from an estate tax charitable deduction based on the value of the proceeds paid. Making a donation through a paid-up life insurance policy is an excellent way to give a large gift ---larger than you ever thought possible.
Goals and Benefits
You can receive a charitable income tax deduction by gifting the whole policy to the Bowers Museum while avoiding federal income and estate taxes as well. The death benefit of a life insurance policy would pass to the Bowers Museum and not be subject to any probate or estate administrative costs.
Charitable Lead Trust (CLT)
You transfer your cash or property to a trust that makes payment over years and then passes the trust property to your family with no additional tax.
Goals and Benefits
You want to give cash or property to your family in the future without paying a lot of gift estate tax.
Retirement Assets
Distribution from retirement plans, such as pension plan, IRA and 401(k) plans are typically taxed as ordinary income to your named beneficiaries. They may be ideal assets to contribute to our organization, which is tax-exempt. You can name the Bowers Museum as a primary or contingent beneficiary.
Goals and Benefits
If you are looking for ways to save on estate tax, your retirement assets actually make a better gift to charity. This is because a charitable organization like ours can receive the entire asset tax-free and make use of it to further our mission.
Contact
Bowers Museum
2002 North Main Street
Santa Ana, CA 92706
Office of the President
Lesley Ann Hamilton
Assistant to The President
Tel: 714-567-3602
email: LAHamilton@bowers.org