Sea History 125 - Winter 2008-2009

Page 65

Ways to Contribute by Thomas F. Daly, Trustee, National Maritime Historical Society For many years, both the Board of Trustees and the staff have been asked by members what options are available to best support the Sociery. The National Maritime Historical Sociery is a 5 01 (c}3 not-for profit organization that is dependant on member support as the foundation on which is built all ofour work to preserve our seafaring heritage. -Burchenal Green, President Your tax-deductible contributions to the National Maritime Historical Society help us preserve America's maritime heritage. As a member, your generosity helps insure that future generations will learn about our nation's seafaring past. Many of our members would like to make larger charitable gifts to sustain the Society's endeavors or, perhaps, fund a specific project in their name or the name of a loved one. Please consider one of these giving vehicles.

IRA Gifts Recent Federal legislation enables persons 70.5 years or older to continue to make donations up to $100,000 in 2008 from an IRA without incurring a tax on the withdrawal.

Outright Gifts Outright contributions, often consisting of cash or appreciated securities, are the most direct way of assisting NMHS.

Appreciated Securities

Gifts of Cash

A gift of long-term appreciated secunues, either publicly The donor can receive full tax benefits on a cash contributraded or from a private company, may provide greater tax tion if he itemizes deductions. If the charitable deduction advantages than gifts of cash. The donor can deduct the cur- exceeds that amount in the year the gift is made, the donor rent fair market value as a charitable gift and avoid any capital can carry over the unused excess to offset income in sucgains tax on the appreciation. The deduction can be used to ceeding years. offset the donor's adjusted gross income in the year of the gift and any unused excess may be carried over to offset income Matching Gifts Many companies will match or multiply donations made to in succeeding years. the National Maritime Historical Society by their employees and, in some cases, by employees' spouses. Contributors Restricted Gifts A donor may choose to designate his gift for one or more of are encouraged to contact their human resources office to the specific needs of the Society, for example: for the library, determine if the employer has a matching gift program. the seminar program, one of the educational initiatives, for support of Sea History, or to publish a specific book.

Other Gifts Life Insurance

Sustaining Gifts

Donors who own a life insurance policy that the family no A Sustaining Member supports NMHS at a higher level than longer needs can get a tax deduction equal to the cash value if might otherwise be convenient. A sustaining gift may be at they donate it to the Society. any amount, and it can be charged each month or quarter from a credit card account directly to NMHS. For example, $62.50 given each quarter will make the member a Patron of Bequests Members are requested to please remember to include the the Society; $41. 67 each month will make the member a DoNational Maritime Historical Society as the beneficiary of nor. This dependable income lowers the Society's administratheir will or trust or retirement plan. Members are encour- tion costs. A record of each gift will appear on the donor's aged to please let us know if the Society has been remembered credit card statement, and the gift may increase, decrease, or be suspended at any time by contacting the Society. in this way. Although donors should have their own counsel review their gift arrangements for the best information regarding their individual circumstances, for more information from NMHS, a donor or his or her adviser may contact the Society's President, Burchenal Green, at 914 737-7878. SEA HISTORY 125, WINTER 2008-09