Have you been inspired by the wisdom of Himalayan art at the Rubin Museum through exhibitions, talks, and programs? You have the power to ensure that what you love about the Rubin will be here for future generations. By creating a legacy gift, you can help sustain the Rubin's art and programs.
Please consider making a meaningful gift in one or more of the following ways:
1. Leave a bequest in your will or living trust.
Bequests are a time-honored way of ensuring your support of the Rubin Museum, enabling us to serve our mission for years to come. You can express your gift to the Rubin as a percentage of your estate, a certain dollar amount, or specific assets.
Benefits of legacy gifts:
- It's simple—all it usually takes is adding a few lines in your will or filling out a short form.
- It costs nothing right now—you stay in control of your assets.
- It's flexible—you can change your mind and beneficiaries at any time if your circumstances change.
- It's powerful—do more than you ever imagined possible. Every gift—large and small—makes a big impact for the Rubin.
Suggested Language for a Gift in Your Will or Trust:
I give, devise, and bequeath the sum of $_________or _________percentage of my residuary estate to the Rubin Museum of Art, New York, NY 10011 for its unrestricted use.
2. Name the Rubin as a beneficiary of your retirement plan.
If you are like many people, much of your savings is in your retirement plan, such as a 401(k); IRA; or 403(b). Did you know that retirement plans are subject to income and possibly estate taxes when left to loved ones? However, if you give all or part of your retirement savings to the Rubin, no income or estate taxes will be paid on the gift. Request a "change of beneficiary" form and add the Rubin as a beneficiary.
3. Name the Rubin as a beneficiary of your Donor Advised Fund.
You can direct that all or part of your Donor Advised Fund (DAF) be paid upon your death to the Rubin Museum. Request a form to change your recommended charitable beneficiary(ies).
4. Name the Rubin as a beneficiary of your life insurance policy.
You can make the Rubin Museum a full, partial, or contingent beneficiary of your life insurance policy. Additionally, you can sign over a fully paid policy to the Museum. Request a "change of beneficiary" form and add the Rubin as a beneficiary.
5. Give through a Qualified Charitable Distribution.
If you are 72 or older, you can give up to $100,000 from your IRA directly to a charity and the amount distributed will be counted against your required minimum distribution (RMD). If you are 70½, the same rules apply. However, if you choose to make additional contributions to your IRA before you turn 72, the amount you give to a charity that can be counted against your RMD will be reduced by the amount you contribute to your IRA. As with any gift planning question, donors should consult their tax professionals for specific advice.
Here's how it works
- You must be 70½ or older at the time of the charitable distribution.
- You may distribute any amount up to $100,000 per calendar year to charity.
- Your IRA administrator must make the distribution directly to the charity.
- The SECURE Act of January 1, 2020, pushed back the age at which retirement plan participants need to take required minimum distributions (RMDs) from 70½ to 72, and allows traditional IRA owners to keep making contributions indefinitely.
- But participants can still make their charitable distribution at age 70½ or older.
- Most IRA custodians have their own forms for making a charitable contribution. Request a form from your IRA administrator to make a change to your contribution.
- Donors should consult their tax professionals for specific advice.
For more complex gift planning questions, donors should consult their tax and legal professionals for specific advice.
Legal Name, Address, and Tax Identification #:
Rubin Museum of Art
150 West 17th Street
New York, NY 10010
Tax ID# 22-6799567
Registered as the Shelley & Donald Cultural Trust
Please contact Jillian Flexner, Senior Manager, Major Gifts at firstname.lastname@example.org or call 212 620-5000 x203 for more information.
Please contact us any time to discuss your ideas, ask questions, or talk through the possibilities. We are deeply appreciative of every gift and excited to help you make the Rubin's timeless art and inspiring programs available for many years to come!