What is Planned Giving?

The museum is partnering with the Vermont Community Foundation (VCF) so we can offer our donors the opportunity to make a planned gift to benefit the museum, backed by the assets of the Foundation.

What does the term planned giving mean?

Planned gifts are designed to be received in the future as opposed to current gifts which are available immediately. Examples of planned gifts include bequests, retirement plan beneficiary designations, and life insurance beneficiary designations. Also included are gifts that pay income to the donor for life, such as charitable gift annuities and charitable remainder trusts.

Does the Foundation offer a turn-key planned giving service designed specifically for Vermont nonprofits?

Yes, it's one of the many ways the Foundation supports Vermont nonprofits beyond grant making. With their planned giving program, the American Precision Museum benefits from a range of giving options—from simple bequests to the more sophisticated charitable gift annuities. VCF also provides the museum with administrative support for the planned giving program, and all planned gifts are guaranteed by the Foundation's assets.

BEQUESTS of all sizes help to ensure the museum's future and can be included in the body of your will or in a simple codicil added to your existing will. Bequests can be written to leave a specific amount to the museum, a percentage of your estate, or the residue of your estate after all other commitments have been satisfied. If your estate will be subject to estate tax, a significant bequest can reduce the taxable portion or bring the value below the taxable threshold.

Following is sample language that may be used in a will:

I hereby give, devise and bequeath to the American Precision Museum, Inc., a corporation organized and existing under the laws of the State of Vermont, (1) the sum of $_______ (or property, securities, etc.) or (2)_______% of the residuary of my estate to be used for the benefit of the American Precision, Inc., for its general use and purposes as the Board of Trustees may direct.

CHARITABLE GIFT ANNUITIES are similar to annuities that you purchase from an insurance company as it provides a predictable stream of income in return for your gift. Charitable gift annuities allow you to make a contribution to the museum and then receive a fixed annual income from the gift during your life and/or your spouse's life. The older you are when the annuity is established, the higher the rate offered. Upon the death of the annuitant, the remaining principal becomes available to the museum.

RETIREMENT PLANS make excellent charitable gifts at the time of death. The American Precision Museum can be named as the beneficiary of a company pension plan, a traditional IRA, 4019k) or Keogh plan. Because the museum is a charitable organization, it will not pay any income or estate tax on the assets it receives from the retirement plan.

LIFE INSURANCE POLICIES: An insurance policy can be used to make a gift to the museum and provide you with a variety of tax benefits. Transferring ownership of a policy provides an immediate tax deduction while naming the American Precision Museum as a partial or sole beneficiary may result in an estate tax deduction.

OTHER WAYS TO GIVE: The American Precision Museum is pleased to accept immediate gifts of cash and stock. Both options offer an income tax deduction. With a contribution of appreciated securities, you also can avoid paying capital gains taxes that would have applied had you sold the shares yourself.

Please contact the museum for more information about any of these options.