Supporting the Lycoming County Historical Society via Planned Giving
How You Can Help Give a gift that will aid the future of the Lycoming County Historical Society (LCHS). When you set up a planned gift, you are extending your commitment to helping the LCHS and keep the history of our area alive beyond your own lifetime. Your generosity will assist in ensuring the mission and programs that enrich the lives of the visitors and residents of the Lycoming County area far into the future.
The Importance of Using Professional Counsel To assist you with the determination of a gift opportunity that meets your charitable, financial, and estate tax objectives, we always encourage prospective donors to seek the advice of professional counsel concerning the best giving option for them. Prior to making one of these gifts, you will want to consult with your attorney or financial advisor to ensure that your wishes will be carried out in accordance with the appropriate state and federal regulations. The information presented here is an overview based upon various planned giving options, it does not purport to be definitive.
Some Examples of Planned Gifts
A Bequest in a Will
Bequests are one of the simplest, yet most effective forms of making a planned gift. You can easily include the LCHS in your will, and doing so may qualify your estate for an income tax deduction. Funding is provided for programs and services to benefit the Lycoming County Historical Society.
Generic language to assist in naming the Lycoming County Historical Society as a beneficiary of your Will:
Lycoming County Historical Society
858 West Fourth St.
Williamsport, PA 17701
I give, devise, and bequeath to the Lycoming County Historical Society, 858 West Fourth Street, Williamsport, Pennsylvania, fully incorporated under the laws of the Commonwealth of Pennsylvania, the sum of $________ or a ____ % of my residuary estate. I direct that this gift be used to support The Lycoming County Historical Society’s general fund and to be used at the discretion of the administration and Board of Governors to advance and conserve the mission and programs of the organization, and the Museum’s exhibits, property, and preservation.
Note - If you wish to designate your gift to a specific project or program within the LCHS, please have your attorney or financial advisor add the specific wording to your Will
Gift Via Life Insurance/IRA
Existing or new policies may be used, and premium payments may be deducted as gifts. An income tax deduction may be applied for the value of the policy when transferred and an estate and income tax deduction could be possible. Proceeds of the life insurance policy can be used to help support the mission and programs of the Lycoming County Historical Society.
A Retirement Plan (IRA, Keogh) - A qualified charitable distribution is an IRA withdrawal that is paid directly from your IRA to the LCHS - saving substantial money in penalties that are assessed if cash is withdrawn from an individual IRA and may offer possible estate and income tax benefits. It could potentially lead to significant funds to support the advancement and programs of the LCHS and the upkeep of the Taber Museum.
Benefits of a Gift Via Charitable Remainder Trust Charitable Gift Annuity or Deferred Gift Annuity
- Fixed or variable income for the remainder of your & your spouse’s life
- Income can be deferred
- Estate and income tax deduction possible for the year which your Annuity is set up or upon the death of the last surviving beneficiary
- You, as the donor, get to witness and be recognized during your lifetime for the benefits & impact your gift has with the LCHS
Benefits of Gifts of Stock, Bonds, or Other Securities
Gifts of appreciated Securities, Stocks, Bonds, or Mutual Fund Shares may provide for you:
- Income tax deduction when transferred
- Avoid capital gains tax on securities’ appreciation
Gifts of Personal Assets
Please contact our Development Director, Eric Ziegler or Executive Director, Gary Parks at (570) 326-3326 to discuss the possibility of other gift options to help the Lycoming County Historical Society/Taber Museum, or for additional information about gift planning.
If you have already included the Lycoming County Historical Society as a beneficiary of your estate, please let us know so we can thank you NOW for your generosity and foresight (even if you request that your gift be anonymous to the public) and to ensure that your gift is administered according to your wishes. All correspondence regarding these giving opportunities will be held in the strictest confidence.