Your Gift to Support the Work of NMHS by Thomas F. Daly, Trustee, National Maritime Historical Society
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ost of our members support our work because they want to continue and strengthen the national voice of our maritime heritage. They support the preservation of ships and the education of the next generation. They understand how important their support is to NMHS. While the tax consequence of their generosity may not be their first consideration, it is worth knowing abour the many ways to give which maximize their tax savings. Gifts of cash are most common and immensely appreciated, bur a gift of securities or other assets that have increased in value can support NMHS and also be beneficial to the tax savings of the donor. Gifts in a will, living trust, or a plan thi t provides funds to the Society are sound ways to give wisely. Your tax-deductible contributions to the National Maritime Historical Society help us preserve America's maritime heritage. Your generosity helps insure that future generations will learn abour our nation's seafaring past. In your name or the name of a loved one, please consider one of these giving vehicles.
IRA Gifts-New for 2007 New legislation enables persons 70.5 years or older to make donations up to $100,000 in 2007 from a traditional or Roth IRA withour incurring a tax on the withdrawal. This method of giving is also exempt from the percentage of adjusted gross income limitations imposed on other types of charitable gifts. The donation will pass directly from the donor's IRA to the Society, so it is not, for tax purposes, included when calculating the donor's income. This provision is effective only until 31 December 2007, so all gifts must be completed by that date. Two of our generous members have taken advantage of this Pension Protection Act of 2006. Both highly recommend to others who do not need the additional taxable income that they take advantage of this provision to support our important work and have the money sent directly to the Society, avoiding the tax liability.
Outright Gifts Outright contributions, often consisting of cash or appreciated securities, are the most direct way of assisting NMHS. Appreciated Securities: A gift of long-term appreciated securities, either publicly traded or from a private company, may provide greater tax advantages than gifts of cash. The donor can deduct the current fair market value as a charitable gift and avoid any capital gains tax on the appr,eciation. The deduction can be used to offset the donor's adjusted gross income in the year of the gift and any unused excess may be carried over to offset income in succeeding years.
Gifts to a Community Fund: A donor may consider making a gift to a community fund whereby he can direct that annual contributions from the fund be paid to the National Maritime Historical Society. This gift would be tax deductible for federal income tax purposes.
Celebrate our maritime heritage this holiday season with NMHS greeting cards Created by distinguished marine artist William G. Muller, these three greeting cards capture the romance of a bygone era- and help support the work of NMI-IS. Greeting on CD l-CD2 reads "With every good wish for peace and good will for the Holidays and throughout the coming year." CD3 reads "Merry Christmas and best wishes for the coming New Year." Also available as blank note cards. Box of 10: $14.95, or $13.46 for NMI-IS members. Add $4 s/h for one box and $2 for each additional box. Please indicate your choice of card and specify holiday greeting or blank cards.
NEW for 2007: CD1- Cunard Linc's venera ble fou r-stack liner Maurelania steams through New York Harbor in cruising-white livery in 1934.
C0 2-0n rhe Rondout Creek on a winter night in 1923, the shifter tugboat Robchuffs out with a canal barge of Chrisnnas trees.
CD3-The Akx Gibson leaves New York for San Francisco on a winter's day in the 1890s.
Quantities are limited. To order, call 1-800-221-NMHS (6647), ext. 0, e-mail nmhs@seahistory.org, or visit our web site at www.seahistory.org. Allow 2 to 3 weeks for delivery. SEA HISTORY 120, AUTUMN 2007
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