12 Ways to Make a Gift to the American Banjo Museum
By Check – send to:
American Banjo Museum
9 East Sheridan Ave
Oklahoma City, OK 7310
- Multiple-Year Cash Pledge: You can pledge a gift and pay over a period of up to five years.
- Bequest through Will: It is very simple to give of your estate. You can make a gift bequest, after others have been provided for, of a dollar amount, specific property, a percentage of the estate, or the remainder to the American Banjo Museum.
- Outright Gift of Real Estate: One of the most overlooked gift forms is real estate. A gift of land, a house, or vacation home is a perfect gift. You will impact generations yet to come and receive a tax deduction for the full fair market value, as well as avoiding all capital gain taxes.
- Retirement Accounts: Retirement Account Funds (IRAs or company plans) beyond the comfortable support of yourself or loved ones may be given (such as life insurance proceeds) to the American Banjo Museum by proper beneficiary designation.
- Personal Property (Collections, Royalty Rights, etc.): Gifts of personal property are always welcome, including collections, royalty, and mineral rights. Charitable tax deductions are available in the year of the gift.
- Appreciated Stock: Appreciated stock (held more than one year) makes an excellent gift. Avoid all capital gain taxes, receive a tax deduction, and deduct up to 30 percent of your adjusted gross income.
- Bonds & Mutual Funds: Bonds and mutual funds are similar to cash in their tax treatment. State, Municipal, and U.S. Government Bonds are welcome.
- Gift of Life Insurance: It is easy to make a significant gift by naming the American Banjo Museum as a beneficiary to receive all, or a portion of the proceeds of an existing life insurance policy. You will receive a tax deduction for the cash surrender value, thus reducing your tax liability in the year of the gift.
- Real Estate with Life Tenancy: Receive a substantial income tax deduction by giving (deeding) your home or farm to the American Banjo Museum now. You continue to live there, maintain the property as usual, and even receive any income it generates. At your death, the American Banjo Museum will convert your property into cash to support its mission.
- In-Kind Gifts: Gifts of goods or services are welcomed by the American Banjo Museum with prior approval by the Museum Director. Ordinarily these gifts will be accepted at their full fair market values as determined by appraisal or other appropriate valuation techniques. (Gifts of instruments or other tangible items will be converted to cash unless otherwise accepted by the Museum for placement within its collection, or otherwise agreed upon.)