Planned Giving

Even a modest gift in your will or estate plan can make a lasting impact in the community. Here are a few common types of planned giving opportunities.* Won’t you consider including Plains Art Museum in your estate plans? Your gift will be your legacy of bringing people and art together.

Donations to a Qualified Endowment

Endowment gifts are a great way to strengthen the future of Plains Art Museum and save on your taxes!
If you’re a North Dakota individual tax payer or a North Dakota business owner, you have an unprecedented opportunity to make gifts to Plains Art Museum and receive significant North Dakota tax credits. A tax credit is significantly more valuable than a deduction since a credit offsets the computed tax liability.

Outright Gift

  • Income-tax deduction for full value of cash gifts and stock with long-term capital gain
  • Bypass tax on long-term capital gain property
  • Irrevocable

Charitable Remainder Trust

  • Annual income for life or term of up to 20 years:
    • fixed percentage of initial trust principal, or
    • percentage of annual principal balance
  • Remainder to Plains Art Museum
  • Income-tax deduction for present value of remainder interest
  • Potential estate-tax benefits
  • Avoidance of probate
  • Irrevocable

Last Will and Testament

  • Several alternatives exist:
    • percentage of estate
    • dollar amount
    • specific property
    • contingent beneficiary
  • May incorporate charitable trusts
  • Potential estate-tax benefits
  • Flexibility to be changed

Gift Annuity

  • Fixed annual income for life:
    • partially tax-free
    • based on age and gift amount

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  • Partial income-tax deduction
  • Potential gift and estate-tax benefits
  • Avoidance of probate
  • Irrevocable

Life Insurance

  • Plains Art Museum named as sole or partial beneficiary
  • Paid-up policy: no additional cost
  • New policy: installment gifts
  • Potential income, gift and estate tax benefits

Charitable Lead Trust

  • Income paid to Plains Art Museum for term of years
  • Property passes to heirs after term of years
  • Potential estate-tax benefits
  • Avoidance of probate
  • Irrevocable

For more information or to schedule a confidential meeting, please contact:

Janet Zinke
Plains Art Museum
704 First Ave N
Fargo, ND 58102

*The information given is not professional or legal tax advice.

Consult an attorney, accountant or another financial advisor about tax-friendly options before making a charitable gift.