Gifts of Stock

A gift of stock is a great way to support the Chesapeake Bay Maritime Museum. If you have stock that has appreciated greatly in value you may consider giving securities as a year- end gift to the Museum.

Giving long-term appreciated stock offers you a two-fold tax saving. First, you avoid paying capital gains tax on the increased value of your stock. Second, you receive a tax deduction for the full fair market value of the stock on the date of your gift to the Museum. For income tax purposes the value of a gift of stock may be deducted up to 30% of your adjusted gross income with a additional five-year carry forward of any balance.

Making a gift of stock to the Chesapeake Bay Maritime Museum is easy. Just inform your broker of your intention to make a gift, have him or her give us a call, and we will handle the rest!

For more information or to make a gift of stock call
Chesapeake Bay Maritime Museum, 410-745-2916 ext. 182, or e-mail krattie@cbmm.org

Memorial Gifts

The Chesapeake Bay Maritime Museum is pleased to receive memorial gifts to honor both Museum members and non-members. These gifts are generally placed in the Museum's operating endowment with the annual interest funding, in perpetuity, the various projects and programs of the Museum. A donor may also choose to have a Memorial gift designated for a restricted fund such as the Lighthouse Endowment, the Collection Acquisition Endowment or another established named endowment. (Please see below for a list of current restricted endowment funds.) All memorial gifts are published in the Museum's Annual Report unless the donor wishes the gift to be anonymous.

The Museum accepts Memorial gifts in the form of check or gifts of stock. When making your gift please note the name of the individual you wish to honor and make your gift payable to:

Chesapeake Bay Maritime Museum
Navy Point, PO Box 636
St. Michaels, MD 21633

If you have any additional questions regarding memorial gifts, please call 410-745-2916, ext. 182.

Endowments

A named endowment may be established by a donor to the Museum by making a contribution of at least $25,000. The following named endowment funds are perpetual and their income has supported the Chesapeake Bay Maritime Museum since the first endowment fund was established in 1969.

Education and Curatorial Endowments

The Boatbuilding Apprentice Fund
The Howard I. Chapelle Memorial Library Endowment
The Collection Acquisition Endowment
The Curatorial Endowment
The J. Douglas Darby Memorial Education Endowment
The J. Douglas Darby Library Endowment
The Davenport Family Foundation Endowment
The Education Endowment
The Fichtner Community Sailing Endowment
The Maintenance for Floating Exhibits Endowment
The Jean McIntosh & William Carveth Heyn Endowment Fund
The George F. Johnson Endowment
The Program Endowment for the Kerr Center for Chesapeake Studies
The Kimberly Clark Endowment In Memory of Robert J. Kimberly
The Lenfest Foundation Lecture Series Endowment
The Lighthouse Endowment
The James Michener Intern Endowment
The Phillip E. Nuttle Waterfowl Endowment
The David & Susan Pyles Community Sailing Endowment
The Sailing Club of the Chesapeake Sail Training Endowment
The Chesapeake Bay Log Canoe Trophy Endowment
The C.V. Starr Scholarship Endowment
The Barbara Stewart Museum Store Endowment
The Ernest and Jane Tucker Apprentice Endowment
The George Harry Wagner Memorial Scholarship Endowment
The Webster Endowment
The Ralph H. Wiley Education Endowment

Operating Endowments

The David B. Baker, Jr. Memorial Endowment
The Bedford Family Fund Operating Endowment
The Bruce Ford Brown Memorial Operating Endowment
The Buildings & Grounds Endowment
The C. Thomas Clagett, Jr. Operating Endowment
The Edward B. Freeman Memorial Operating Endowment
The James & Marianna Horner Operating Endowment
The Constance Stuart Larrabee Endowment
The Dundas Leavitt Memorial Operating Endowment
The Peter Max Operating Endowment
The Memorial Operating Endowment
The Members Operating Endowment
The John B. Mencke Memorial Endowment
The Sumner and Frances Parker Endowment
The Requard Operating Endowment
The J.W. Sener, Jr. Endowment
The Ralph Simmons Operating Endowment
The Linda & Hank Spire Operating Endowment
The Vane Brothers Company Endowment

Planned Giving

Use Your IRA as Never Before
On August 17, 2006, President Bush signed into law new tax incentives for charitable gifts from donors who are 70½ or older. The Pension Protection Act of 2006 encourages financial support of charitable organizations across the United States.

Under the law, you can make a lifetime gift using funds from your individual retirement account (IRA) without undesirable tax effects. Previously you would have had to report any amount taken from your IRA as taxable income, and then take a charitable deduction for the gift, but only up to 50 percent of your adjusted gross income. In effect, this caused some donors to pay more in income taxes than if they didn't make a gift at all.

Fortunately, now these IRA gifts can be accomplished simply and without tax complications. Plus, you can make the gift now-while you are living and able to witness the benefits of your generosity.

You may contribute funds this way if:

• You are age 70½ or older
  
  
• The gift is $100,000 or less each year
  
  
• You make the gift on or before Dec. 31, 2007
  
  
• You transfer funds directly from an IRA or Rollover IRA
  
  
• You transfer the gift outright to one or more public charities, but not supporting organizations or donor advised funds

How to Make a Gift of an IRA

Prior to making a gift, contact Heather Moore at 410-745-2916, ext 238, for special instructions. Then contact your IRA custodian to transfer your desired amount.

Gift by Will or Bequest

If you plan to make a charitable gift by will, please think it through carefully. Then, meet with your attorney to discuss and update your will. Tell him or her exactly what you want to do. Be as clear as possible in describing what you want given to whom.

Let Us Know

We hope you'll tell us when you have named the Museum in your will. We would very much like the opportunity to thank you for your generosity.

If you prefer to remain anonymous, your gift will be kept completely confidential. But at the same time, recognition of your gift can encourage others to do the same. Whatever the case, we will honor your wishes, because we appreciate your support immensely. And, if you have any other specific requests for a bequest, please contact the John Miller at 410-745-2916, ext. 129, or e-mail jmiller@cbmm.org.

HOME | ABOUT US | WHAT TO SEE & DO | VISITOR INFO | EDUCATION & OUTREACH
MEMBERS & SUPPORTERS | NEWS & MEDIA | Copyright 2003, The Chesapeake Bay Maritime Museum.