Planned Giving

Charitable gift planning is a special way to ensure that your legacy reflects the ideas and values you cherish most. By including the Foundation in your estate planning, you will make a lasting contribution to the National Museum of the United States Air Force® and leave a meaningful legacy of your association with the Air Force. There are a variety of options for making a planned gift to the Foundation. Your gift can be tailored to meet the future needs of your family, while also reducing state and federal income taxes.

A charitable gift should be discussed with your attorney and tax adviser to best meet the needs of your financial situation.

BEQUESTS

Consider designating the Air Force Museum Foundation, Inc. as a beneficiary in your will or trust. You can leave a specific amount, a specific asset, or a percentage of your residual estate. It is also possible to name the Foundation as a primary or secondary beneficiary of life insurance plans or qualified retirement plans, such as IRA, 401(k), or 403(b) plans. Retirement accounts are especially advantageous to leave to the Air Force Museum Foundation, as individuals inheriting these assets must pay ordinary income tax, or possibly, estate tax. Cash gifts can reduce your adjusted gross income by as much as 50 percent. All charitable bequests qualify for tax deductions.

IRA ROLLOVER

The IRA Charitable Rollover provision of the tax code allows individuals aged 70 1/2 years or older to move up to $100,000 from an IRA directly to a qualified charity, such as the Air Force Museum Foundation, with no income tax payment.

GIFTS OF STOCK

If you have owned stock for more than one year and it has appreciated, you will probably owe capital gains when it is sold. By giving appreciated stock as part of your charitable gift to the Air Force Museum Foundation, you can eliminate the capital gains tax and also get a deduction for the full-market value of the stock at the time it is given to the Foundation.

CHARITABLE REMAINDER TRUSTS

A Charitable Remainder Trust allows you to make a charitable gift to the Air Force Museum Foundation now while providing interest income to one or more people, including yourself, for a designated term of years, or life. It can be funded with cash, stock, real estate, collectibles, or even an interest in your closely-held business. You benefit from an income tax charitable tax deduction for a portion of the gift amount, and any capital gain associated with assets going into the trust is deferred or forgiven. When the trust ends, the remainder goes to supporting the mission of the Air Force Museum Foundation.

CHARITABLE GIFT ANNUITY

For a minimum gift of $10,000 using cash, credit card, or appreciated securities, you can establish an annuity, which is a simple contract between you and the Air Force Museum Foundation. In return you will receive a secure income for the life of one or two individuals, part of which is tax-free; initially avoid the capital gains tax on the sale of the appreciated asset; gain an income tax deduction; and provide future support for the National Museum of the U.S. Air Force. Annual payments can begin immediately or be deferred to some future date.

There are many variations of these gift options. This information is not intended as legal, tax, or investment advice. For such advice, please consult your attorney, investment or tax professional.

THE LEGACY SOCIETY

The Legacy Society was established to acknowledge and thank our many friends who have remembered and supported the Foundation with their future charitable giving and estate planning. If you have included the Air Force Museum Foundation in your estate plans, please let us know so that we may recognize you as a member of the Legacy Society. As a member you will be invited to special events and programs throughout the year and have the opportunity to meet other individuals with a common interest in the future of the Museum.  View the names of these supporters here.

 

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For more information on Planned Giving Opportunities,
contact Mona R.M. Vollmer, Col (Ret) at 937-656-9258, or by email at mvollmer@afmuseum.com