Your support makes a difference. Through an annual membership or other gift, you are the reason we are able to bring the best exhibitions, programming, and events to our vibrant city and community. Thanks to you, LRMA continues to be a creative space for Laurel and the surrounding area. There is always something happening here–and we want you to be a part of it.
Through thoughtful planning and preparation, friends like you can preserve the cultural legacy bestowed by the Museum’s founders and ensure the enrichment of lives for generations to come. For many Museum friends, planned gifts represent a way to continue their support and create a legacy of generosity for the future. In some cases, planned gifts can also provide tax advantages for donors of theirs heirs.
The Lauren Eastman Rogers Society
To recognize the generosity of individuals who have included LRMA in their wills or estate plans, the Museum created the Lauren Eastman Rogers Society. Members of the Society are recognized in the LRMA News and at Appreciation Receptions and other special events. Of course, those wishing to remain anonymous may do so. The Lauren Eastman Rogers Society recognizes several gift vehicles for inclusion.
The easiest way to create a lasting legacy at LRMA is to include the Museum in your will. You can designate a specific dollar amount or a percentage of your estate to be given to LRMA. You can also give stock, works of art, property, and other assets through your will. By adding a codicil or attachment to your will, you can even designate that a certain percentage or amount be given to LRMA after other gifts are made.
A charitable remainder trust is a gift plan allowing you to make a gift that provides regular income for yourself or others while also making a gift to LRMA. The income can last for the lifetime of yourself or your beneficiaries, for a fixed term that does not exceed 20 years, or a combination of the two. After that time, the remainder of the gift goes to LRMA. This trust, which must be created by an attorney, provides tax advantages to the donor, income for the designated beneficiaries, and a monetary gift to LRMA.
Charitable Lead Trust
A charitable lead trust is a gift plan allowing you to provide income for LRMA by transferring assets to a trustee, usually a bank. The trustee makes monetary payments to LRMA for a specified period of time, after which the assets revert to you or your heirs. Like the charitable remainder trust, the charitable lead trust must be created by an attorney. This type of trust also provides tax advantages to the donor and his or her heirs, income for the Museum, and a monetary payment to the donor or heirs.
Individuals can transfer life insurance policies to LRMA or purchase new policies naming LRMA as the owner and beneficiary. Donors who transfer life insurance policies to LRMA may be able to take tax deductions on the cash value of the policy or their cash basis in the policy. Donors who purchase a new policy for the Museum can deduct the amount of the premiums as a charitable deduction.
Your gift will make a difference to the future of LRMA
Your contribution could allow the Museum to fill a particular staff position for years to come, or it may allow us to purchase a special piece of artwork. It could endow an education program or an exhibition series. Regardless of the size, your gift will ensure that LRMA continues to provide life-changing exposure to the visual arts.
Remember that the information presented here is intended as a general guide. You should discuss your planned gift with your accountant or attorney who can advise you about the tax advantages of a planned gift in your particular situation.
If you would like more information about planned giving at LRMA, please call LRMA Director George Bassi or Director of Development Holly Green at 601.649.6374.