Donations

A charitable deduction for income tax purposes is one that can be taken by those who itemize their income tax returns. The Gadsden Museum of Art Foundation is a 501(c)3 charitable organization. Please check with your accountant or tax advisor to see how you can benefit from current tax rules, call us at 256-546-7365 or please e-mail us at museum@cityofgadsden.com

Ways of Giving:

Cash: This is the simplest form of giving.

Securities: There is a significant tax advantage with a donation of stocks, bonds, or mutual fund shares. If these have increased in value since they were purchase, and you have owned them for the required length of time, you may claim a charitable income donation for their full market value. At the same time, capital gains taxes on the appreciation, which would be due if the securities were sold, may be avoided.
Real Estate: Real estate, like securities, can appreciate in net worth so that selling would result in a substantial gains tax. Gifting to the Foundation of appreciated proper can have a significant tax advantage too! Gifting real estate can be outright, with an immediate tax deduction, or maintain the use of the property during your lifetime and make a planned gift.

Bequests: A bequest is a provision in your will to provide a gift to the Gadsden Museum of Art Foundation after your death.

Life Insurance: A gift of life insurance is an excellent way of making a substantial contribution. The easiest way to make this gift is to list Gadsden Museum of Art Foundation as the beneficiary of the policy.

Charitable Remainder Trust: Giving through a Charitable Remainder Trust allows you to receive income for the rest of your life. The remainder will benefit your community. After funds are transferred into the trust, the trust pays you or someone you designate regular income payments. At the death of the beneficiary or after a designated number of years, the remaining assets in the trust transfer to Gadsden Museum of Art Foundation.

A donation form can be found on our membership brochure, which can be downloaded here.