Planned giving

Creating a legacy

A planned gift can make a significant impact on the Museum of Idaho’s ability to inspire wonder and discovery for generations to come.

 

What is a planned gift?

A planned gift is a donation that provides significant support to the museum even beyond the donor’s lifetime. Such gifts place the museum in a stronger financial position and ensure that the team can continue to what it does best: inspire wonder and discovery about Idaho and our world through science and the humanities. A planned gift can come in many forms, either during your lifetime or after.

As you review these options below, you may discover that you can contribute more than you initially expected, that you may supplement your income, or that you may pass on wealth and minimize tax consequences. Best of all, arranging a planned gift means you are eligible to be a member of our Legacy Society, and in some cases, opens up the opportunity for naming rights.

Donations to the museum are also eligible for the Idaho Education Tax Credit, even if you choose not to itemize.

To discuss further, contact Kim Lee, MOI Director of Development, at 208.522.1400 ext. 3007 or email.

Making a bequest

Including the Museum of Idaho in your estate plan is a meaningful way to support the museum’s collections, exhibits, education programs, and overall mission.

Sample bequest language:

“I give (X dollars or X percent of the residue of my estate) to the Museum of Idaho, Inc., an Idaho nonprofit organization, for its general purposes.”

Because the needs of the museum change over time, many donors make unrestricted bequests. However, if you are interested in a specific designation for your gift, please contact Kim Lee, Director of Development, for assistance. In either case, we would appreciate receiving a copy of the relevant portion of your will or trust.

Forming a charitable trust

Remainder trust

With a transfer of cash, stock, or other appreciated assets to a charitable remainder trust, you can generate lifelong income for yourself or other beneficiarites and potentially claim an income tax deduction. The trustee pays you a percentage of the trust’s value each year. At the end of the trust, the museum receives the proceeds. Benefits include:

  • Quarterly income for life for you or other beneficiaries
  • Potential for growth of income over time
  • Investment diversification
  • Can be funded with cash, securities, or other property
  • Potential income tax deduction
  • Svings on gift and estate taxes
  • Future support for the museum in an area you designate
Lead trust

Forming a charitable lead trust allows you to pass wealth on to heirs with little or no estate or transfer taxes. During the life of the trust, the museum receives annual income, after which the principal is turned over to the heirs you have designated. Benefits include:

  • Gift and estate tax deductions for the value of annual trust payments may enable you to transfer to your heirs a larger estate after taxes than would otherwise be possible
  • Any appreciation of the assets during the term of the trust, while subject to capital gains tax, is not subject to gift or estate tax at the trust’s termination
  • Annual support to the museum in an area you desginate

Donor-Advised Funds (DAF)

Donor-Advised Funds allow you to contribute to a fund as often as you like, then bundle contributions and grant them to the museum at an opportune time. If you have an existing DAF account, you may use it to generate a quarterly or annual grant earmarked toward the museum’s long-term sustainability.

Common DAF providers in our region include:

Donating other assets

Gifts of real estate and other property can benefit the museum and provide you flexibility with your estate and retirement planning. Real estate and personal property may be used for an outright gift or to establish a life income arrangement or bequest. Gifts of real estate can include commercial or residential property, open land, farms, and condominiums. Other gifts can include stock in privately held companies, partnership interests, and personal property such as artwork, antiques, and collectibles. The tax benefits to you depend on the form of the gift and your individual circumstances.

You may also wish to name the museum as a beneficiary of the remainder of your retirement account or life insurance policy. Large retirement plans left to heirs can be heavily taxed. However, naming the museum as a benfeficiary could allow you to earmark lower-tax assets for your heirs while making a meaningful gift. You may also avoid income taxes each year by donating your required minimum distribution (RMD) directly to the museum.

E-mail issues

The email provider used by MOI is changing its security protocols, and we have just learned that many emails sent recently to MOI employees may not have been received. If you think this may have happened to you, please call 208-522-1400 to reach us by phone. We sincerely apologize for the inconvenience.

Naming opportunities

Leave a legacy for all to see. Items from benches to full buildings may be named in honor of a special person, family, or organization. 

Disclosure: The Museum of Idaho does not provide legal or tax advice.

Questions?

Contact Kim at 208.522.1400 ext. 3007 or email.

The Legacy Society

The Museum of Idaho Legacy Society recognizes friends who have made a planned gift to the museum or included the museum in their estate plans. As a member of the Legacy Society, you will be invited to special events and recognized in museum publications.

If you have already included MOI in a planned gift, please email Kim to be enrolled in the society.

Your impact

Whether you give to education, exhibits, or artifact collections, your dollars can have almost immediate impact on the mission of the museum.

Education

Enable MOI to bring more and better educational programs to local learners of all ages, provide scholarships for those programs, and subsidize school field trips. 

Exhibits

Enable MOI to bring in top-quality traveling exhibits from around the world and offer them to the local public at affordable prices.

Artifact collections

Enable MOI to preserve your history and make it accessible for future generations.