Gifts of Retirement Assets
Donating part or all of your unused retirement assets, such as your IRA, 401(k), 403(b), pension or other tax-deferred plan, is an excellent way to make a gift to the Museum of New Mexico Foundation and designated to the institutions we support.
If you are like most people, you probably will not use all of your retirement assets during your lifetime. You can make a gift of your unused retirement assets to help further our mission.
Benefits of gifts of retirement assets
- Avoid potential estate tax on retirement assets.
- Your heirs would avoid income tax on any retirement assets funded on a pre-tax basis.
- Receive potential estate tax savings from an estate tax deduction.
How to make a gift of retirement assets
To leave your retirement assets to the Museum of New Mexico Foundation and designated to the institutions we support, you will need to complete a beneficiary designation form provided by your retirement plan custodian. If you designate the Museum of New Mexico Foundation and the institutions we support as beneficiaries, we will benefit from the full value of your gift because your IRA assets will not be taxed at your death. Your estate will benefit from an estate tax charitable deduction for the gift.
More on gifts of retirement assets
Did you know that 60%-70% of your retirement assets may be taxed if you leave them to your heirs at your death? Another option is to leave your heirs assets that receive a step up in basis, such as real estate and stock, and give the retirement assets to the Museum of New Mexico Foundation and designated to the institutions we support. As a charity, we are not taxed upon receiving an IRA or other retirement plan assets.
Contact us
If you have any questions about gifts of retirement assets, please contact us. We would be happy to assist you and answer any questions that you have.
Please let us know if you have already included the Museum of New Mexico Foundation and the institutions we support as beneficiaries of your retirement assets. We would like to thank you and recognize you for your gift.
Our Mission
The Museum of New Mexico Foundation supports the Museum of New Mexico system, in collaboration with the Museum of New Mexico Board of Regents and the New Mexico Department of Cultural Affairs. The Foundation's principal activities are fund development for exhibitions and education programs, retail and licensing programs, financial management, advocacy and special initiatives.
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