What Are Planned Gifts?
Generally, any gift made with forethought about its financial implications to the donor and the donor's family and how it will benefit OMSI is a "planned" gift. Planned gifts are often received through a legal document such as a will, living trust, life insurance, retirement plan or charitable remainder trust. All of these are used to "plan" gifts.

How Are Planned Gifts Used?
OMSI believes very strongly that to ensure the future financial stability of the museum and its programs, a large and dependable Fund for the Future must be maintained. One of the best ways to do this is through the acceptance of planned gifts such as those listed above.

The Trustees of OMSI have decided that unless specifically requested by the donor, all planned gifts received by the museum will be placed in the general fund for support of the museum's operations, including developing new exhibits and programs, supporting educational and production staff, and maintaining the facility. By making this commitment, OMSI can secure its mission of providing excellence in science education for all its visitors.

How Can I Maximize the Benefits to My Family, OMSI and Myself?
Your situation is unique, according to your personal needs, goals, family, assets and charitable interests. Planning your gift can help you maximize attainment of your giving goals. A thoughtful review of your interests and assets is a good beginning. Based on this review, your financial advisor or members of the museum's development staff can suggest various charitable methods for achieving your goals. One method of giving may allow you to save on income taxes or capital gain taxes. Another might combine a gift while providing income for you and a loved one. Some gifts can be given now, while others can be deferred, such as bequests through a will.

Regarding Taxes
Charitable gifts are generally deductible in amounts up to 50% of adjusted gross income (AGI) for gifts of cash and 30% of AGI for gifts of appreciated property.

When appreciated publicly traded securities are donated, you are entitled to a deduction for full value, not just the original cost. This results in a tax deduction based on 'paper profits' you have not yet realized. If securities decrease in value, consider selling them, thereby creating a loss for tax purposes, and making deductible gifts of the cash proceeds.

Consider making larger gifts in years when you have more income and will be in a higher tax bracket. The higher your tax bracket, the greater the savings from your gifts.