Planned Gifts to the NEU

Make a Lasting Impact

There are a variety of financial vehicles available to help you reach your financial and philanthropic goals. Before making a gift to the Neuberger Museum of Art, you should consult with your financial, tax, and legal advisors for an analysis of your individual situation to decide which of these ways of giving might work best for you:

• Bequests

A bequest made through one’s will is often the simplest way to make a legacy gift to the Friends of the Neuberger Museum of Art.  Adding a codicil to your existing will is an acceptable and simple solution. Bequests may come in any form ─ cash, securities, and other personal property, including real estate and works of art. Your charitable bequest is 100 percent deductible for estate tax purposes.

• Life Insurance Policies

You may name the Friends of the Neuberger Museum of Art as a beneficiary of all or part of a new or existing life insurance policy. Depending on the type of policy donated, you may receive an immediate income tax deduction and be able to deduct any future premium payments on the policy.

• Retirement Plan Assets

When you name children or other non-charitable heirs (other than your spouse) as beneficiaries of your retirement plans, they receive only a small fraction of the plan’s face value, since inherited assets of retirement plans are subject to both estate taxes and income taxes. You may wish to designate the Friends of the Neuberger Museum of Art as the beneficiary of all or part of your retirement plan assets and set aside other assets for family and friends. As a tax-exempt organization, the Museum will generally receive the full amount of the plan’s value.

• Life Income Plans

  • Charitable Gift Annuities

A charitable gift annuity is a simple contract between you and the Friends of the Neuberger Museum of Art. In exchange for your irrevocable gift, the museum agrees to pay you (and/or another beneficiary named by you) a fixed sum each year for life. Annuity rates are fixed and are determined based on the age of the annuitant(s). At the end of the annuity term, the gift balance is turned over to the museum. In addition to a secure, lifetime income stream (some of which may be tax-free), you also qualify for an immediate income tax charitable deduction, avoid capital gains tax on the gift transfer, and reduce your taxable estate ─ all while making a gift to the Museum.

• Charitable Remainder Trust

When you establish a charitable remainder trust, you make an irrevocable gift which is placed in the trust. You determine the payout rate and structure and direct who oversees your trust, as well as how your trust is managed. Income from the trust is paid to one or more beneficiaries designated by you for a period of years. At the end of the trust term, the trust principal is turned over to the Friends of the Neuberger Museum of Art to be used as you set forth in the trust document. When you fund a trust gift, you not only receive an income stream for the life of the trust, but you also qualify for an immediate income tax charitable deduction, avoid any capital gains tax on the transfer, and reduce your taxable estate.

• Charitable Lead Trusts

With a lead trust, you donate assets to a trust that makes payments to the for the term of the trust. When the trust terminates, the assets are transferred back to you or directly to your heirs, as pre-designated by you. If the trust assets revert to you at the end of the trust term, your gift entitles you to an immediate income tax charitable deduction. If the trust assets are transferred to someone other than you at the end of the trust term, you enjoy a substantial reduction in estate and gift taxes on the future transfer to your heirs.

• Gifts of Art

Gifts of art are a crucial way for the Neuberger Museum’s art collection to continue to grow. Our curatorial staff gives careful consideration to gifts of art before we are able to accept them and all gifts of art must be approved by the Friends of the Neuberger Museum of Art Board of Trustees.

If you are considering a gift of art to the Neuberger you should first contact christine.downes@purchase.edu. 

NEU Legacy Circle

The Legacy Circle recognizes and honors those who have thoughtfully provided for the Neuberger Museum of Art through their estate and financial plans.

There are no fees or dues associated with membership and the benefits are extended in perpetuity. 

Member of the Legacy Circle enjoy:

• Invitations to private exhibition previews, exclusive receptions, and special events hosted by the Museum (virtually and in-person);
• Invitations to Neuberger-hosted ArtTrek tours of private collections, artist studios, and more;
• Free admission to participating Fairfield Westchester Museum Alliance (FWMA) institutions and the College and University Reciprocal Program, which includes more than 40 museums across the country;
• Free admission to over 675 museums through the North American Reciprocal Membership Association (NARMA) and Modern and Contemporary Reciprocal Program (Mod/Co) participating museums;
• Complimentary Museum catalogue chosen by the Director with a complimentary NEU Tote Bag
• Subscription to the What’s Now, What’s Next, What’s NEU e-newsletter, weekly blog posts, and other announcements;
• 10% discount in The NEU Museum Store.

 

Join the NEU Legacy Circle

Complete this planned giving intent form to start the conversation about creating a legacy with your support of the Neuberger Museum of Art.