Wings of Gold Society The Naval Aviation Museum Foundation founded the Wings of Gold Society in 1993, to recognize planned gift donors who contributed to the sustainment of the National Naval Aviation Museum. The purpose of this society is to acknowledge and thank those who have remembered the Naval Aviation Museum Foundation in their gift or estate plans. Wings of Gold Society You are invited to learn more about this unique Society. Your commitment to a planned gift will help provide for exciting new exhibits and additional educational programs at the Museum. Members of the Society receive recognition in the Fly By (the Foundation s newsletter) and are given a framed certificate of membership. If you prefer to be listed as anonymous in our publications, your wishes will be honored. The Foundation sincerely appreciates your confidence and support of its continuing efforts to preserve and protect the proud heritage of Navy, Marine Corps and Coast Guard Aviation. Please read the remainder of this booklet to learn about the many ways you can ensure the future success of the National Naval Aviation Museum.
Making A Lasting Gift To The Museum Through Your Will In addition to being one of the simplest ways to distribute your estate, your will can also be a creative vehicle through which to make thoughtful gifts. You may designate the Foundation program you wish to support. After providing for the needs of your loved ones, you may choose one of several ways to benefit the National Naval Aviation Museum through a bequest to the Naval Aviation Museum Foundation, Inc., Tax Number 59-6178237. By having your attorney revise your will or add a simple amendment (known as a codicil), you can make a gift of a dollar amount, specific property, a percentage of your estate or what is left after your loved ones have been cared for. You may also wish to name the Foundation as the residual beneficiary in the event your heirs do not survive you. Giving Life Insurance A Little At A Time Life insurance needs change as life progresses, children become self-sufficient, and investments may provide unexpected income and security. As a result, not all life insurance coverage may be needed for the reason it was initially purchased. Also, because federal law now exempts many estates from taxation, life insurance originally purchased to cover estate taxes may be obsolete. One of the simplest ways to make a significant gift in the future is to name the Naval Aviation Museum Foundation as a charitable beneficiary to receive all or a portion of the proceeds of a policy no longer needed for its original purpose. Another way to make a gift of life insurance is to donate an existing policy or purchase a new policy, naming the Foundation as owner and beneficiary or co-beneficiary. You can donate tax-deductible gifts to the Foundation that we use to pay the premiums.
Creative Gifts Through Retirement Plans Whether in a 401(k), 403(b), Individual Retirement Account (IRA), or other type of plan you may accumulate funds beyond your needs for the comfortable support of you and your loved ones. You may designate the Foundation as a remainder beneficiary of all or a percentage of your retirement plan, barring income and estate taxes. If you are age 70.5 or older, you can also rollover tax-free gifts from your IRA up to $100,000 per year. The rollovers must come from an IRA and will count toward your required minimum distribution (RMB). Wings of Gold Society Gifts of Stocks and Bonds Donating appreciated securities, including stocks or bonds, is a convenient way for you to make a gift to the Foundation. People who wish to make a gift of this nature can contact the Foundation to set up a direct transfer in order to realize certain tax benefits. You will attain a great deal of satisfaction, knowing that these assets you have accumulated will be helping to fund that Museum that is totally dedicated in preserving, presenting and promoting Naval Aviation. An Estate Gift Through Revocable Living Trusts If, like many others, you have chosen to rely on a revocable living trust to pass your property to loved ones while minimizing probate costs, consider how you might add a charitable dimension to this plan as well. You can provide that, at the termination of your revocable living trust, a portion of the assets in the trust be donated to the Naval Aviation Museum Foundation or for a Foundation project. Much like a charitable bequest through a will, such a gift is deductible from estate taxes and can be delayed until family members have first been provided for.
Giving And Receiving Did you know that there are several different ways to make charitable gifts in support of the Naval Aviation Museum Foundation that qualify for an immediate income tax deduction and provide for payments for yourself or others? A variety of plans exist and can be tailored to meet your individual needs as well as qualify you for membership in the Wings of Gold Society. Charitable Remainder Annuity Trust provides for annual fixed amount payments to the designated beneficiaries and on termination of the trust the corpus passes to the charity. Charitable Remainder Unitrust is a charitable trust that provides for annual payments to the charity based on a percentage of the trust s assets as valued each year. The trust payments can fluctuate based on the performance of the trust assets. Charitable Lead Trust People who wish to make a substantial gift to the Foundation over a period of years, while ensuring that their property will ultimately return to them or their loved ones, will be interested in the charitable lead trust. The lead trust can be one of the few ways to eliminate taxes that would otherwise be due on assets left to a designated beneficiary. Under the terms of this charitable gift plan, assets are transferred to a trust that pays income to one or more charitable recipients for a number of years determined by you. At the end of that period, the assets are returned to you or other persons you name.
Honoring The Life Of Another Membership in the Wings of Gold Society is available to individuals who make a qualifying gift or commitment in their estate plan and is available for others who have a qualifying gift or commitment made in their honor or memory. Endowment Wings of Gold Society An endowment has been established by the Foundation in order to provide essential, perpetual support for the National Naval Aviation Museum. The principal of this endowment is maintained in perpetuity and yearly earnings are available to support the Museum. Funds accrue to the endowment from the estate of the deceased Wings of Gold Society Members Through qualifying direct gifts and commitments made to the endowment from the estate of the deceased Wings of Gold Society Members, funds accrue in the endowment that will help sustain Naval Aviation History for many years to come. Planned gifts to the Foundation endowment can be made in memory of the Wings of Gold Society Member or in honor of their chosen beneficiary.
Donors Testimonial The Foundation is educating the youth on Naval Aviation history. DeWayne Retired Senior Chief & Dorothy Robideaux
The Naval Aviation Museum Foundation, Inc., is a 501(c)(3) charitable, educational foundation providing financial support for the National Naval Aviation Museum aboard NAS Pensacola, Florida. Neither the author, the publisher nor this organization is engaged in rendering legal or tax advisory service. For advice and assistance in specific cases, the services of an attorney or other professional advisor should be obtained. The purpose of this publication is to provide accurate and authoritative information of a general character only. Watch for tax revisions. State laws govern wills, trusts and charitable gifts made in a contractual agreement. Advice from legal counsel should be sought when considering these types of gifts. A Final Note If you would like to be included in the Wings of Gold Society, or would like additional information, please contact the Foundation: Naval Aviation Museum Foundation 1750 Radford Boulevard, Suite B NAS Pensacola, Florida 32508 (800) 327-5002 (850) 453-2389 Fax (850) 457-3032 e-mail: namfoffice@navalaviationmuseum.org www.navalaviationmuseum.org