You can invest in the museum’s future as part of your long-term financial plans by making a bequest in your will, leaving a gift of real estate, or setting up an annuity or trust. To begin a conversation about planned giving opportunities, contact Eliza Ward, executive director of development and assistant museum director, at [email protected] or 202-994-5438.
Planned Giving Options
Bequests: Future gifts through your will or living trust may be made to the museum in any amount. Bequests may also be used to fund charitable gift annuities or charitable trusts. See sample gift language (PDF) that you can include in your will to leave a bequest to the museum.
Beneficiary designations: Any retirement plan assets—such as IRA, 401(k), 403(b), and/or Keogh plan—remaining at death may be designated to the museum. Simply update your retirement plan remainder beneficiaries to include the museum as a beneficiary of all or a portion of the assets remaining after your death. You may also designate the museum to receive the death benefit of a life insurance policy or the remainder of a wide variety of financial accounts, including brokerage and bank accounts.
Charitable gift annuities: For a gift of $10,000 or more, you can receive an immediate income tax deduction and guaranteed, fixed annuity income for the duration of your lifetime or that of others designated by you.
Charitable Remainder Trusts (CRTs): For a gift of $100,000, you may receive an immediate tax deduction and either fixed or variable income that lasts for your lifetime or a term of up to 20 years. CRTs may also be funded with art and artifacts of equivalent value with an appropriate appraisal paid for by the donor.
Real estate: Gifts of real estate may be used to fund bequests, charitable gift annuities, or CRTs. You may also give property to the museum in exchange for a large tax benefit, while retaining the property for your lifetime.
Recognizing Your Support
When you notify us (PDF) that you have included the museum as a beneficiary of your estate, you will be invited to join the university’s Heritage Society. Those who specify The Textile Museum as the recipient of their gift will also be included in the George Hewitt Myers Heritage Society, which recognizes people who have followed the example of The Textile Museum’s founder through an investment in future textile art appreciation.