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Kempf House Museum | |
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Making a Gift | |
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Making a Gift to the Kempf House Museum Fund Background The Kempf House Museum Fund is managed by the Ann Arbor Area Community Foundation (AAACF). Established in 1963, AAACF is a nonprofit community trust dedicated to improving the quality of life in the Ann Arbor Area. The Community Foundation manages over 280 named endowment funds, over 70 of which have been established to benefit nonprofit organizations such as the Kempf House Center for Local History. As of December 31, 2004, the Community Foundation’s assets stood at approximately $35 million. These pooled assets, from a variety of donors, are invested together; yielding greater growth, greater income and lower investment fees than any one organization could achieve alone. How Can I Make a Gift? Gifts to the Kempf House Museum Fund can take different forms – cash, gifts of appreciated securities or real estate, life insurance, or planned gifts such as a charitable trust or bequest made through a will. All donations to the Fund can be made by sending gifts to the Ann Arbor Area Community Foundation. With your gift, it should be noted that you are granting the Community Foundation variance power, which allows AAACF the flexibility to ensure that your charitable interest will be served in perpetuity. These gifts qualify for the Michigan Community Foundation Tax Credit as well as a charitable deduction on your federal income tax return. Please consult your tax advisor to understand how these benefits apply to you. Because your donation qualifies for the maximum allowable deductions for charitable contributions, you can make a significant gift at relatively little actual cost. The following chart illustrates how this works: ..........................Single Taxpayer....Married Taxpayer....Corporation AMOUNT OF GIFT..........$200...............$400...............$10,000 State Tax Credit............$100...............$200.................$5,000 Federal Tax Rate...............15%................35%.....................35%* Federal Tax Savings.........$15.................$70.................$1,750* Total Tax Savings...........$115...............$270.................$6,750 COST OF GIFT..................$85...............$130.................$3,250 The Michigan Tax Credit Legislation, within its dollar limitations, is an incentive for individuals and corporations to support or increase their support to community foundations. The Tax credit allows a 50% direct Michigan personal income tax credit or Michigan single business tax credit for all gifts to certified community foundations. Maximum amounts that can be credited are $100 for individuals, $200 for married couples filing jointly, and up to $5,000 for businesses filing single business tax returns. *Federal tax liability is adjusted for decrease in the Michigan Single Business Tax Deduction. To contribute, please make your check payable to the Ann Arbor Area Community Foundation, noting that the donation is for the Kempf House Museum Fund. All donations should be mailed to the Kempf House Museum, 312 South Division Street, Ann Arbor, MI 48104. Should you wish to make a gift of stock or mutual fund shares, please contact AAACF for details in this regard. What if I Want More Information? To learn more about the Kempf House Museum Fund or ways you can make a gift, please contact Cheryl W. Elliott, AAACF President & CEO at 301 North Main Street, Suite 300, Ann Arbor MI 48104, (734) 663-0401 or celliott@aaacf.org.
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Site: © 2002-2010 by: Pierian Press Web Services | Hosted by: Stratton House Inn Content: © 2005-2010 Kempf House Museum. All rights reserved. |
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