About Endowment Donations

A financial endowment is a donation of money or property to a nonprofit organization for the ongoing support of that organization. Usually the endowment is structured so that the principal amount is kept intact while the investment income is available for use, or part of the principal is released each year, which allows for the donation to have an impact over a longer period than if it were spent all at once. An endowment may come with stipulations regarding its usage.

Types of endowment funds:
  • Unrestricted endowment can be used in any way the recipient chooses to carry out its mission.
  • Term endowment funds stipulate that all or part of the principal may be expended only after the expiration of a stated period of time or occurrence of a specified event, depending on donor wishes.
  • Restricted endowment funds must retain the purpose and intent as specified by the donor or source of the original funds and earnings may be expended only for the specified purpose.

  • Your financial help is vital to guarantee the future of the Beatty Museum and Historical Society (BMHS)
    The opportunities for giving to the BMHS Endowment Fund are almost unlimited. A gift may be large or small. Most BMHS and friends of the BMHS find themselves in a position of holding appreciated assets that would make wonderful gifts to the Endowment Fund. Gifts of cash, securities, real estate, artifacts, jewelry, bequests, life insurance, and individual retirement accounts are just some of the many ways in which you may contribute to the Endowment Fund. You are encouraged to consult with your attorney regarding your many options for giving to the Endowment Fund.

    You do not have to be wealthy to leave a lasting legacy
    The most practical gift to the BMHS Endowment Fund depends upon your individual circumstances. Not everyone is able to make a sizeable cash or real estate donation during their lifetime. That means that most Museum members and friends will contribute through bequests, life insurance, IRAs, etc. By selecting one of these methods of giving, you will control the ultimate distribution of your estate. You will be able to make a lasting contribution to a cause you believed in during your lifetime.

    Tax benefits of giving to the BMHS Endowment Fund
    Because the BMHS is a 501(c)(3) non-profit corporation, all donations to the BMHS Endowment Fund are tax deductible. Members and friends who are interested in contributing to the Endowment Fund should consider the beneficial tax implications of a gift of long-term appreciated property. Marketable property -- either securities or real estate -- should be reviewed. In many instances, a gift of property itself is likely to be more tax advantageous than writing a check.

    How do I make a gift to the BMHS Endowment Fund?
    Those who are planning on leaving assets to the BMHS Endowment Fund after their death must have a will or trust. Such documents provide instructions for the distribution of one's possessions after death. Ideally, these documents should be drafted by a qualified attorney, preferably an estate planning specialist. A will or trust should specify the names of the beneficiaries, as well as the shares in percentages. If you desire that all, or a portion, of your estate go to the BMHS Endowment Fund, your will or trust must specify that you are making a bequest to the BMHS Endowment Fund. The exact percentage of your estate that you wish to donate to the Endowment Fund must be stated. It is easy to change an existing will with an addition known as a codicil. Trusts are easily changed by adding an amendment. A codicil or an amendment will modify only those provisions to which it specifically refers. However, if major revision is needed, it is usually better to have your attorney prepare a completely new will or trust. Remember, a bequest may be in the form of cash, securities, real estate, life insurance, individual retirement accounts, jewelry, art objects, or virtually anything of value.

    Summary Those who strongly believe in the preservation of the BMHS will want to help guarantee the future of this great institution. By making a donation to the BMHS Endowment Fund, you can be assured that your gift will continue to support of this great cause long after your death. By executing a will or trust, you will have made provision for your family, friends, and the institutions of your choosing. You also will have gained greater peace of mind knowing that the assets you have acquired during your lifetime will be distributed according to your wishes.
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