When you make a planned gift to the Museum of Science, you choose to become a part of our story and invest in the next generation of critical thinkers and problem solvers. Planned gifts provide benefits to both the Museum and to you and your loved ones, and can be made either during your life or after your passing.
Consider the planned giving opportunities described below to support the Museum, while also fulfilling your financial and estate planning goals.
Bequests allow you to name the Museum as a charitable beneficiary through your estate and secure an estate-tax deduction for the value of your gift.
Naming the Museum of Science as a beneficiary of a retirement plan such as a 401(k) or IRA, a Donor Advised Fund, or a paid up life insurance policy is a simple and tax-efficient way to support the Museum.
Life-income gifts such as gift annuities and charitable remainder trusts provide donors with a steady income stream for life, income tax savings, and the satisfaction of providing the Museum with vital long-term resources.
A charitable gift annuity provides secure, fixed payments for life to one or two individuals you choose, then ultimately supports areas of the Museum you so designate.
With a charitable remainder trust, the Museum pays you and/or one additional income beneficiary variable income for life. The remainder then supports an area of the Museum that is most important to you.
A charitable lead trust enables you to give the Museum income for a set number of years but retains the principal for you or your heirs. Removed from your estate, assets placed in a lead trust can be passed to loved ones untouched by the diminishing effects of estate taxes.
Securities and mutual funds that have increased in value and have been held for more than one year can be used to make your gift to the Museum. In making the gift, you may be eligible for various tax-advantaged benefits.
You can use a personal residence, vacation home, commercial property, or undeveloped land to make a gift to the Museum either during life or at your passing.
Tangible personal property (e.g. artwork or jewelry), closely held stock, private equity, and hedge fund investments may be used to make a gift to the Museum.
If you have a donor advised fund, you can make an annual fund gift to the Museum. A DAF gives you the flexibility to recommend how much and how often money is granted to the Museum each year.
If you are 70½ years old or older, you can transfer any amount, up to $100,000 per year, from your IRA directly to the Museum. This is a tax-advantaged way to make your annual fund gift.
For many people in the greater Boston community, the name Brad Washburn is a familiar one. If one did not know him personally, they certainly knew him as the founder of the Museum of Science, Boston, its iconic president for 41 years, and then honorary director until his passing in 2007.
How fitting, then, that the Museum of Science has named its legacy society to honor Brad Washburn and his wife, Barbara. Washburn had a vision for the Museum that we see realized today in the exciting exhibits and innovative programs that are now his legacy. The Washburn Society members represent a special community of people who share Brad’s vision to build and strengthen our endowment; to fund new educational initiatives; to provide vital support to areas of greatest need; and to help transform the nation’s relationship with science and technology today and tomorrow.
Please contact Karen Turpin, director of planned giving, to learn how you can participate in the Museum of Science’s legacy and become a member of the Washburn Society.
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