Memphis Brooks Museum of Art is a 501(c)3 nonprofit organization (EIN/tax ID number: 62-6063304). Your legacy can keep the arts alive and thriving in Memphis. By including Memphis Brooks Museum of Art in your estate planning, you ensure that future generations continue to experience the profound impact of art, culture, and education.
Your thoughtful gift will not only preserve our treasured collections but also enhance community programs that make art accessible to everyone.
A charitable bequest is a donation made through your will or living trust to a nonprofit organization such as the Memphis Brooks Museum of Art. This type of giving allows you to specify a dollar amount, a percentage of your estate, or the residue after other gifts have been distributed. Charitable bequests can be made in cash, stocks, real estate, or other assets.
The Memphis Brooks Museum of Art encourages you to consult a financial or tax advisor for additional information regarding your specific situation.
Benefiting you, your museum, and future generations:
- While costing you nothing now, this type of gift provides security for the future of Memphis’ art museum. A bequest allows you to leave a lasting impact on the community by supporting the arts, culture, and education, ensuring that your values continue to influence future generations.
- The process is as simple as adding text to your will or living trust. You may also modify your bequest if your circumstances change.
- Charitable bequests could help minimize the amount of income taxes imposed on both your individual heirs and your estate and can include other assets like stocks, IRAs and real estate.
Types of charitable bequests:
- Specific: A specific gift of money or a particular asset to the museum.
- Residuary: A gift to the museum made from the residue of the estate after all other wishes are fulfilled, or a percentage of your estate.
- Contingent: A gift that takes effect in the event that the designated beneficiaries are unable to accept the estate gift.
- Perpetual: A series of gifts over a period of time.
How to include the museum in your estate plans:
Memphis Brooks Museum of Art encourages you to consult with a professional to ensure that your charitable bequest aligns with your overall financial and estate plans. We are here to help you - please contact Dorothy McClure by email or at 901.494.9883 with questions.
- Work with your attorney to include the appropriate language in your estate documents.
- Notify us about your planned gift by filling out a form (coming soon).
Please notify us of your planned gift. We would love to thank you for your generosity and talk to you about your intentions to ensure that they are followed.