Planned Giving

We have established a legacy program to recognize community members who have documented an intended bequest or other planned gifts with an estimated value of $100,000 or more.  These planned gifts could be through a will or a trust; IRA or donor advised fund account beneficiary designation; life insurance policy beneficiary designation; or a payable on death account at a bank or brokerage firm.  

Thank you for considering a gift to the Legacy Program. Your support of history’s future is critical to the future. Below is a list of the different ways of giving.

To learn more about any of the legacy items below please contact Development Officer Elizabeth Wilson, (718) 351-1611 x 245 ewilson@historicrichmondtown.org or CEO Jessica B. Phillips, (718) 351-1611 x250 jphillips@historicrichmondtown.org 

BEQUESTS OR PROVISION IN TRUSTS

A gift from your estate in the form of cash, securities, or other property made through your estate plans is an excellent way to participate in the Planned Giving Program. Remembering the Society with a bequest or gift from a trust will help sustain and strengthen our mission for years to come. Estate plans should be prepared by and with the advice of an attorney to ensure that your intentions are carried out. 

RETIREMENT PLANS  & IRAS

Giving from your retirement plan as part of your estate plan can be a tax-efficient and simple way to include the Society in your estate plan. You can also give currently from your IRA. Since Staten Island Historical Society is a non-profit, we will not pay income tax on the distribution nor will the gift be subject to estate tax. Those who are 70 1/2 or older can make a Qualified Charitable Distribution of up to $100,000 per year directly from an IRA account, which provides tax advantages to the donor. 

GIFTS FROM A DONOR ADVISED ACCOUNT

The Society accepts gifts from Donor Advised Accounts.  If you have a donor advised account, search your provider’s grant website for Staten Island Historical Society, doing business as Historic Richmond Town, using our EIN 13-1985514. 

GIFTS OF SECURITIES

Gifts of securities often confer significant tax benefits on a donor.  Gifts of publicly traded securities that have appreciated in value allow you to claim a charitable deduction for the full market value of the securities on the date the gift is made.  Gifts of securities are also not subject to the capital gains tax. Securities can be transferred to the Society in a variety of ways. 

LIFE INCOME PLANS

Life income plans can be an excellent way to support the Society while ensuring your own financial future or that of your loved ones.  You can make a gift to SRNY through a Charitable Remainder Trust or Charitable Gift Annuity that will pay you and/or another beneficiary annual income for life.  At the death of the last income beneficiary, the remaining principal is transferred to the Society. 

GIFTS OF REAL ESTATE

Real estate is a versatile asset. Whether it is a personal home, vacation home, undeveloped property, or a farm it can be contributed in many different ways that are highly effective.  One way to make a gift of real estate is to use the property as a way to fund a trust that makes payments back to the organization.  It can also be given as an outright gift.

LIFE INSURANCE

Life insurance is both easy to give and receive making it an ideal planned giving gift. We can help you learn about how the tax consequences to the donor, appraisal guidelines and how to set-up the administrative procedures to pay the premiums. 

CHARITABLE LEAD TRUSTS

A charitable lead trust is a unique way of giving.  It can be used to transfer assets to children or others at a significantly reduced tax liability.   The trust makes a fixed payment to the Society for a specific term, measured either by someone’s life or a selected number of years.  After the term ends, the assets of the trust are either returned to you or passed on to the beneficiaries.  A charitable lead trust can be a powerful tool in planned giving.  

OTHER – ART AND ANTIQUES

An often overlooked way to support the Planned Giving Program is through the donation of art and antiques of no mission related value.  The pieces are given to the Society with the plan to have them sold and the proceeds of the sale returned to the Society. 

To learn more about any of the legacy items above please contact Development Officer Elizabeth Wilson, (718) 351-1611 x 245 ewilson@historicrichmondtown.org or CEO Jessica B. Phillips, (718) 351-1611 x250 jphillips@historicrichmondtown.org