ways to make a planned gift
We honor those who have remembered the MAC in their estate plans.
For more than 60 years, MAC has been committed to our mission of promoting art in our community by creating learning opportunities.
Since its founding in 1957, the MAC has received generous support from dedicated friends who have recognized the need to ensure access to arts experiences in the Middletown area for future generations. Through their foresight and generosity, MAC Family Legacy members make a crucial difference in upholding a sound financial foundation for the future growth and the vitality of the MAC. Remembering MAC in your estate plan is an important and impactful way to help sustain and strengthen the MAC for the next 60 years.
The MAC is pleased to accept a variety of planned gifts. We welcome the opportunity to work with you, and your planning team, to create a plan that will help realize your needs and philanthropic intentions.
Many options exist for planned gifts to the MAC. These gifts provide meaningful support to the Middletown Arts Center in the future, while also creating valuable income tax, capital gains tax and/or estate tax advantages.
We are very pleased to receive gifts via an electronic transfer of funds (from checking, IRA, mutual funds, stock, etc.) directly to our brokerage account. Please contact, or have your advisor contact, Kate Dykes at 424-2417, or email@example.com , to receive account and DTC numbers to facilitate the transfer.
For gifts please be apprised that our legal name is Middletown Fine Arts Center, our Tax ID number is 31-6014837.
GIFT OF STOCK
Eliminate capital gains tax: You can make a gift of publicly traded securities to the MAC. Gifting appreciated stock, held for more than one year, may present great charitable opportunities because the donation of shares is tax deductible and there is no capital gains tax. Gifts of restricted or closely held securities are subject to a pre-acceptance review by the MAC. The MAC and its advisors control all decisions relating to the sale or retention of contributed securities.
IRA CHARITABLE ROLLOVER | QUALIFIED CHARITABLE DISTRIBUTION (QCD)
Reduce taxable income: If you are age 70 1/2 or older, you may be able to transfer up to $100,000 annually from your IRA account directly to MAC without first having to recognize the distribution as income. A QDC counts towards your Required Minimum Distribution (RMD) and excludes the amount donated from taxable income.
DISTRIBUTIONS FROM CHARITABLE FUNDS
Tax savings: You can make a distribution to the MAC from your private foundation or donor-advised fund.
BEQUESTS BY WILL OR TRUST
Two simple ways to remember the MAC in your will are:
1. A specific bequest that directs a fixed dollar amount or particular assets such as securities, or
2. A residual bequest that directs all or a percentage of the remainder of your estate, after specific gifts to other beneficiaries have been fulfilled.
BENEFICIARY DESIGNATIONS UNDER RETIREMENT PLAN, LIFE INSURANCE POLICY, ASSETS & ACCOUNTS
Name the MAC as a beneficiary of a retirement plan, life insurance policy, asset or account, e.g., 401(k), 403(b), IRA.
CHARITABLE REMAINDER TRUST, CHARITABLE UNITRUST, OR CHARITABLE GIFT ANNUITY
Make a gift of your appreciated assets and receive both tax benefits and lifetime income in the form of either a fixed payments annuity amount or a unitrust amount that changes each year, knowing that whatever remains will benefit the MAC upon your death.
At the MAC Board of Governors’ discretion funds may be managed by the Middletown Community Foundation (MCF) as the fiscal agent for the Middletown Arts Center. Financial assets not managed by MCF will be held as cash or cash equivalents.
Non-monetary gifts will be evaluated for acceptance or rejection by the executive director.
We are grateful to those who have included the MAC in their estate plans, whose commitments demonstrate their leadership and generosity. If you have already included the Middletown Arts Center in your estate plans please let us know so that you may be properly recognized and thanked!
The information on this page is intended to provide general guidance on charitable planned giving. It is not intended as legal or tax advice and should not be relied upon as such. For advice or assistance with your particular situation, consult your financial, legal, and tax advisors. Please contact Kate Dykes at 513-424-2417, or firstname.lastname@example.org, for any questions regarding how the MAC will steward your charitable gift and serve your philanthropic intentions.