WE RELY ON YOUR GENEROSITY

CURRENT & PLANNED GIVING

CURRENT GIFTS

The following gift arrangements serve to support the Channel Islands Maritime Museum today.

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Cash

Gifts are designated as restricted or unrestricted. Unrestricted gifts enable the Museum to respond flexibly and quickly to immediate needs and new opportunities. Restricted gifts are used to support specific and designated projects.

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Securities

Gifts of appreciated securities provide immediate benefit to CIMM and, in many cases, tax deductions for the donor. Capital gains taxes can be avoided and, often, the full-market value of appreciated securities can be deducted if they have been held longer than twelve months.

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Real Estate & Other Personal Property

Real property is simply real estate—a home, farm, or other land. Your home, whether a single family home or condominium, has probably appreciated in value over the years so that its sale would result in a sizeable capital gains tax. By making a gift of property to CIMM you may be able to avoid capital gains taxes altogether. Gifts of tangible personal property such as art, antiques, rare books or coins, stamps jewelry or other objects offer another way of giving.

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PLANNED GIFTS

THE MAINSAIL SOCIETY 

Bequests

Gifts by will may be for a specific dollar amount, a percentage of the total estate or the residuum remaining after all debts, tax expenses and other bequests have been paid. Specific bequests of property such as real estate may also be made.

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Tax-Deferred Retirement Plan

You may also name the Channel Islands Maritime Museum as a beneficiary in a tax-deferred retirement plan such as an IRA or 401(k) plan. The distribution from any of these plans would take place after your death and may be very tax-wise for you and your family.

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Life Insurance

Policies that are no longer needed for family protection or business purposes make excellent charitable gifts, regardless of whether or not all of the premiums have been paid. When ownership of the policy is irrevocably assigned to the Channel Islands Maritime Museum, the cash value of the policy is a tax-deductible gift, as are all future premium payments. By establishing new life insurance policies, specifically for the Channel Islands Maritime Museum, a donor is able to make a substantial gift for a relatively modest annual outlay.

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IRA QUALIFIED CHARITABLE DONATIONS (QCD)

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Are you 70 ½ with an IRA?

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Lower your Tax Burden and help the Channel Islands Maritime Museum

There have been changes in the tax laws that effect income and deductibles, but there still is a way to benefit you AND help your Museum.

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The IRA Qualified Charitable Donation (QCD) offers you a great opportunity – the functional equivalent of an income tax charitable deduction even if you don’t itemize.  Because the direct distribution to charity is not included in your income, it is not subject to tax.  And the IRA charitable rollover gift counts toward your annual required minimum distribution. 

Keep in mind:

• You must be at least 70 ½ years old at the time of the distribution.

• Your IRA custodian must distribute it directly to the Channel Islands Maritime Museum, a 501(c) 3 corporation. EIN 77-0251663

• It cannot exceed $100,000 per year per individual plan and no goods or services can be received.

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Please note: The material presented here is intended as general information and should not be interpreted as legal, financial, or tax advice. Please consult with your attorney, tax advisor, and/or financial planner to discuss your individual situation.