How can I contribute to the Monterey Museum of Art? Give A Gift of Cash (via Cash, Check or Credit Card) - This is the easiest and most convenient way to support the Museum. Your cash gift is deductible up to 50 percent of your adjusted gross income with itemized income tax deductions. You may carry the unused deduction forward on your tax returns for up to five additional years if you are unable to deduct the full gift amount in year one. Click here to go directly to making a cash donation. Give A Gift of Appreciated Assets - Stocks, mutual funds, bonds or real estate are also an excellent ways to contribute much needed support. By contributing appreciated assets you can receive a double benefit: avoiding tax on the appreciation and receiving a charitable income tax deduction on the value of the assets, potentially making the actual cost of giving very low. If you submit itemized tax returns, your gift of appreciated assets is deductible up to 30 percent of your adjusted gross income. You may also be able to carry any unused portion forward on your tax returns for up to five more years. Consider Transferring Securities - Stocks, bonds and mutual funds can be contributed easily . Please contact the Museum Development Office for transfer instructions. Closely Held Stock. This is privately owned stock that is not publicly traded. Prior to making a gift of closely held stock, it would be important not to enter into a prior written agreement with a potential purchaser or the corporation . Donate Real Estate - Real property can be an important gift. The Monterey Museum of Art welcomes a discussion of a gift of this kind and will carefully evaluate the impact of such a gift. Donate A Gift of Personal Property - Works of art may also be given to the Museum. To ensure the strength of the collection, there is an acquisitions review process at the Museum. Please contact the Director of Collections and Exhibitions to discuss donating works immediately or designating them as gifts from your estate. Contribute Your Retirement Plan or Life Insurance – These assets may be contributed to the Museum. While special guidelines apply, a gift of this kind can have make a positive impact for the Museum. Please contact the Development Office for more details. All of these assets may be contributed to the Museum outright or through a planned gift. Donors to the Monterey Museum of Art are encouraged to consult their own legal and/or tax advisors for an independent review of all giving opportunities. |
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