Legacy gifts are a great way to support the Tampa Museum of Art for generations to come. There are many options to meet your financial needs and you don't necessarily need to even write a check.
William K. Zewadski, Esq.
A Legacy Society Member since 1983

planned giving form          tax exempt form

 

Planned Giving is one of the most meaningful ways to create a legacy at the Tampa Museum of Art while taking advantage of income and tax benefits for you and your heirs. Choosing to participate in planned giving will help sustain the Museum and our mission for generations to come.

Bequests

A bequest is a gift made through your will or trust. It is one of the most popular and flexible ways that you can support our cause. You can create a permanent legacy by leaving a bequest of a specific amount of cash, a percentage of your estate or the remainder of your estate to the Tampa Museum of Art.

Charitable Gift Annuity

A charitable gift annuity is an agreement between you and the Tampa Museum of Art that provides you with regular fixed payments annually for life in exchange for transferring assets to the Museum. You will get a charitable deduction in the year of your gift, and for a certain number of years a portion of your income will be tax-free.

Charitable Remainder Trust

Charitable remainder trusts allow you to make a gift to the Museum and at the same time retain a benefit from the assets you give. These separately managed trusts can be tailored to meet your financial goals with respect to the payout rate, type of income stream (variable or fixed), and payment schedule. To establish a remainder trust, you make an irrevocable contribution of cash, securities, or other property, which is placed in trust. The trust pays an income stream to one or more named beneficiaries (which can include you) for life and/or for a set term of years (not to exceed 20), and the Museum receives the right to principal as a remainder interest. Establishing such a trust generally entitles you to claim an immediate income-tax charitable deduction.

Charitable Lead Trust

A charitable lead trust is the reverse of a charitable remainder trust; the gift to the Museum is the income stream from the trust, not the remainder. Charitable lead trusts enable you to provide an income stream to the Museum immediately for a set term of years or for a term measured by one or more lifetimes after which the trust assets pass to you or your estate or to your heirs. Leaving the asset to heirs can significantly reduce the gift or estate tax that would otherwise apply.

Life Insurance or Retirement Plan Assets

When the Tampa Museum of Art is named a beneficiary of a life insurance policy, any premiums paid qualify for charitable income tax deductions. Naming the Museum as a beneficiary of all or part of your retirement plan proceeds is one of the most cost-effective ways of making a gift and will protect those assets from both income and estate taxes.

Real Estate

In reviewing proposed real estate gifts, the Legacy Giving Committee considers the amount the Tampa Museum of Art would receive after liquidation and payment of expenses, the prospect for immediate sale, the property’s location, and consistency within the Museum’s mission. Donor must provide an appraisal conducted within the past 60 days, a title search, and a level one environmental survey.

Promised Gift of Art

Tampa Museum of Art staff and curators will be happy to discuss with you the process of making a promised gift of art to the Museum. Works enter the collection after careful review by the Museum’s curators and board members. All accepted new works reflect our core aesthetic values.

IRA Charitable Distribution

IRA Charitable Distribution is a qualified charitable distribution (QCD) is generally a nontaxable distribution made directly by the trustee of your IRA (other than a SEP or SIMPLE IRA) to an organization eligible to receive tax deductible contributions. You must be at least age 70½ when the distribution was made. The maximum annual exclusion for QCDs is $100,000. If you file a joint return, your spouse can also have a QCD and exclude up to $100,000.

For more information, please contact us by phone at 813.421.6613, or by email below. All inquiries are completely confidential and without obligation.

The descriptions above are for informational purposes only. The Tampa Museum of Art and the Tampa Museum of Art Foundation do not provide tax, legal or accounting advice. Donors should consult their own tax, legal or accounting advisors before making any gifts.