Planned Giving

One of the easiest ways to make a significant gift to Longyear is by naming Longyear Foundation as a beneficiary in your will or trust. Advance planning can help minimize estate and inheritance taxes and preserve more of your assets.

You and your attorney might find this language helpful in preparing your document:

And unto Longyear Foundation, A.K.A. Longyear Museum, a 501(c)(3) charity organized under the laws of the Commonwealth of Massachusetts, I hereby give, devise and bequeath [insert a description of your legacy].

It is always best to structure your bequest free of conditions. This allows the Longyear Board of Trustees the greatest flexibility in utilizing your generous philanthropy.

Beneficiary designations are one of the simplest and most flexible ways to make a gift. You can name Longyear Foundation as a full or partial beneficiary of any of these financial instruments:

• Retirement plan
• Life insurance policy
• Donor-advised fund
• Bank account
• Investment account

You can ask your account administrator for a change-of-beneficiary form, or you can often find this form on your provider’s website.

A charitable gift annuity (CGA) is a simple contract between you and Longyear, in which Longyear agrees to pay you a fixed income for life in exchange for an upfront gift of cash, IRA assets, or securities. Any remaining balance of your gift becomes available to Longyear. In most cases, CGA payout rates are higher than rates on many other income-producing investments. A portion of each payment may even be tax-free. The minimum gift amount for a Longyear CGA is $5,000.

To discuss establishing a charitable gift annuity with Longyear, please contact the Development Office.

A charitable trust enables you to make a gift to Longyear while also providing you or your beneficiaries with a stream of income. A trust can be created as either a charitable lead trust or a charitable remainder trust.

A charitable lead trust provides Longyear with a stream of income for a stated period of time, at the end of which the property held in trust returns to you or your beneficiary.

A charitable remainder trust provides you with a stream of income for a number of years or for life, with the remainder of the donated assets going to Longyear.

A charitable trust can help with retirement and estate planning as well as tax management, and can be funded with gifts of cash, retirement plan assets, securities, or real estate.

Your financial advisor can help you determine what type of charitable trust is best for you.