There is no better time than the New Year to remind our members of the giving opportunities that enable them to support the museum. Patrons may leave a lasting impact on the Flint Institute of Arts by way of an immediate gift or through estate planning. By notifying the FIA of plans to contribute via your estate, you will become part of the legacy group known as the Renaissance Society.
As a member of the Renaissance Society, you will be recognized in the Members Magazine and Annual Report. This year, the FIA will invite the Society to the first annual Director’s Toast to be held on tax day in the Members Room.
Planned gifts to the Institute include bequests through estates or wills, charitable trusts and annuities. Non-monetary assets such as real estate, works of art, life insurance and Independent Retirement Accounts are also included. These contributions will help specific areas of interest or operations of the renovated facility and enable the FIA to reach its goal in the current Endowment Campaign. With your support, the FIA will continue to flourish for years to come.
For more information contact
Kathryn Sharbaugh by
or by calling 810.234.1695.
Leave Your Legacy Right Here at the FIA
Consider leaving a legacy gift that will help sustain the Flint Institute of Arts for future generations. You don't have to be wealthy to leave a legacy.
• Planning a gift through your will may allow you to make a much larger gift than you can give during your lifetime and you retain full use of your assets during your lifetime.
• You do not have to change your will to leave a bequest as you can simply add an amendment to arrange for a gift upon your passing.
• It is easy to name the FIA as the beneficiary to receive part or all of an IRA, a 401(k), or a life insurance policy.
• You will minimize your taxable estate, simplify the probate process and fulfill your philanthropic goals.
Each year more than 80% of South-east Michigan residents give to nonprofit organizations. A third of the contributions are given to religious organizations and close to another third of all contributions benefits health, human services, animals and environmental causes. Charitable gifts to education add almost another third to the equation. The remaining percentage, about four percent, is given to arts and culture. Although the majority of area residents support charities during their lifetimes fewer than 6% of them leave a bequest through their wills. Imagine how much good could be done if each one of us remembered our favorite places in our estate planning. The impact would be immeasurable.
To discuss how to help the FIA, please contact Kathryn Sharbaugh by
or by calling 810.234.1695.
Once again Uncle Sam is offering those of you 70.5 or older a golden opportunity to contribute to the FIA and at the same time, claim absolutely no income from your IRA. The origin of this charitable giving option was enacted as part of the Emergency Economic Stabilization Act of 2008 and reintroduced in late 2010 to continue through December 31, 2011.
Here's what you do
• Contact your bank, custodian or brokerage house where you have your IRA.
• Order up to $100,000 distributed directly to the FIA, per spouse (if you have separate IRA's).
If you wish, you may designate a specific area to support
• Art School
• Your gift counts towards your minimum distribution for the current tax year.
• No taxes are due on the distribution.
• This opportunity offers yet another type of asset that can be used for charitable giving purposes.
• It is an attractive option if you have other assets set aside to help support your retirement and you want to use IRA assets as a charitable gift that counts as part of your retirement plan's required minimum distribution.
As always, please work with your tax or financial advisor to ensure that this type of charitable gift aligns with your overall financial objectives and let the FIA know of your decision. Contact Kathryn Sharbaugh at 810.234.1695.