The Art of Creating a Legacy
By making a planned or estate gift to moCa you ensure that contemporary art and ideas continue to thrive in our community. Estate gifts make a lasting impression because these donations become a meaningful part of our long-term sustainability.
Be a Part of our Future
Individuals who make a commitment through their will or estate plans are invited to join the Legacy Circle and will be recognized as leaving a legacy at moCa Cleveland—so that future enerations will benefit from contemporary art in Cleveland. This important philanthropic group will receive the following recognition and benefits:
- Listing where Patron funders are recognized
- Yearly special event with the Executive Director
- Invitations to select Patron events
Ways to Give
Bequests through Wills & Trusts
Interested in helping moCa with our mission? A simple and versatile way to make a lasting impression is through a specified gift in your will or living trust. By including a charitable request to moCa in your will or living trust, you ensure that we can continue our mission for years to come.
Passionate about supporting moCa and our mission even after your lifetime? It is easy to do with a beneficiary designation: just name the Museum of Contemporary Art Cleveland as a beneficiary to your 401k, IRA, or life insurance policy. You simply fill out a beneficiary form from your plan administrator, which makes this approach an easy way to give; it does not require outside counsel.
Gifts that Provide Income
When looking for ways to help moCa with our mission, you shouldn't feel like you have to choose between your philanthropic goals and financial security. The following ways allows you to support moCa while providing an income back to you:
Charitable Gift Annuities
Charitable gift annuity allows you to support moCa while receiving fixed payments throughout your lifetime. Not only does this gift provide you with regular payments and establish your legacy, but when you create a charitable gift annuity, you can receive a variety of tax benefits, including a federal income tax charitable deduction when you itemize.
Charitable Remainder Trusts
Looking for a way to give moCa a significant gift? If you have built up a sizeable estate and are also looking for ways to receive regular payments, you may want to check out the advantages of setting up a charitable remainder trust.
Benefits of a charitable remainder trust include:
Potential for an income tax charitable deduction
Potential for increased income
Potential to avoid some capital gains tax when using appreciated assets to fund your gift
Charitable Lead Trusts
Do you want to benefit from tax savings that result from supporting moCa, yet you don’t want to give up assets that you’d like your family to receive someday? You can have it both ways with a charitable lead trust.
There are two ways charitable lead trusts make payments:
A charitable lead annuity trust pays a fixed amount each year to moCa and is more attractive when interest rates are low.
A charitable lead unitrust pays a variable amount each year based on the value of the assets in the trust. With a unitrust, if the trust’s assets go up in value, the payments to moCa go up as well.
See Your Generosity in Action
If you are 70 1/2 years old or older, you can take advantage of a simple way to benefit moCa and receive tax benefits in return. You can give up to $100,000 from your IRA directly to a qualified charity, such as moCa, without having to pay income taxes on the dollars contributed.
Benefits of this gift:
- Your gift will be put to use today, allowing you to see the difference your donation is making.
- You pay no income taxes on the gift. The transfer generates neither taxable income nor a tax deduction, so you benefit even if you do not itemize your deductions.
- If you have not yet taken your required minimum distribution for the year, your IRA charitable rollover gift can satisfy all or part of that requirement.