Leave a Legacy
Your planned gift can ensure the Museum exists in perpetuity. The Erie Art Museum offers many planned giving opportunities, all of which can be tailored to meet your specific financial and estate-planning needs. You can make a legacy gift by:
- Designating life insurance proceeds or donating an insurance policy
- Making the Erie Art Museum a beneficiary of your retirement plan, IRA, 401(k), or 203(b)
- Promising a gift of a work (or works) of art that the museum has agreed to accept
- Or, utilizing one of the charitable vehicles listed below.
Through your will, you may designate a gift of cash or specific assets to benefit the Erie Art Museum.
Charitable Remainder Trust
A Charitable Remainder Trust can provide for a valuable gift to the Erie Art Museum, produce financial benefits for you or a loved one, and earn immediate tax deductions. Income from the trust is paid for a lifetime or specified term, either as a fixed annual sum (an Annuity Trust) or as a percentage of the trust’s annual fair market value (a Unitrust). When the trust terminates, the assets will benefit the individuals the Erie Art Museum serves.
Charitable Lead Trust
Through a Charitable Lead Trust, you may temporarily assign the income from designated assets to benefit EAM. Depending upon the type of cash trust, you may earn charitable tax deductions for the income EAM receives during the trust’s term. When the trust terminates, the assets return to your control. To finalize your gift, you’ll want to consult your attorney, accountant or other professionals you trust for advice on estate and tax planning.
Charitable Gift Annuity Erie Art Museum Endowment Partnership
A program made possible through an affiliation with the Erie Community Foundation for the benefit of the Erie Art Museum, Charitable Gift Annuities (CGA’s) are a legal contract between the donor and the issuing charity: The Erie Community Foundation. CGA’s are primarily a gift. They should not be viewed as an investment. They qualify for an immediate partial income tax deduction. A portion of your annual income may be tax-free. If appreciated securities are used, the capital gains tax due is spread over the life of the contract. The Community Endowment Building Partnership is a no cost service of The Erie Community Foundation designed to help participating charities benefit from new endowment gifts funded through CGA’s. For more information on this program you can also contact the Erie Community Foundation at 814.454.0843.
CONTACT US: To begin a confidential conversation about a planned gift to the Erie Art Museum, email Christine Eddy, Director of Development, or call 814.459.5477. All inquiries will remain confidential and will not obligate you to complete a gift. Please consult your advisers when considering your philanthropic options and objectives.