Planned Giving

MIM greatly appreciates those who choose to make provisions for MIM in their wills and estate plans. MIM welcomes planned or deferred gifts made via bequest, Charitable Remainder Trust, Charitable Lead Trust, retirement plans, life insurance policies, and more. Gifts such as these are key to the sustainability of the institution.

MIM’s Development Team is available at 480.478.6054 or development@theMIM.org to answer questions or discuss ways to tailor planned giving options. Thank you for helping us to ensure a healthy and vibrant future for MIM.

Which type of planned gift is right for you?

A gift that is planned today and realized after your lifetime can help ensure a healthy future for the Musical Instrument Museum (MIM). This type of gift can also save your heirs substantial estate and inheritance taxes. The following are the most common types of planned gifts:

Charitable Bequest: Some 80 percent of planned gifts are from people who include a favorite nonprofit in their will or living trust. Through a bequest, a donor designates in his/her will a specific amount or percentage of his/her estate to MIM, and receives a substantial reduction in federal gift and estate taxes. At your request, MIM can provide as a resource sample bequest or codicil language. Donors who make provisions in their wills can choose to be recognized as part of MIM’s Planned Giving Society. 

Charitable Remainder Trust: These trusts provide income for the donor and beneficiary for life. A charitable remainder annuity trust pays a fixed percentage of the value of the trust assets when the trust was established. A charitable remainder unitrust pays a fixed percentage, but the assets are valued annually. After the end of the life of the donor and beneficiary, what remains in the trust transfers to MIM. 

Charitable Lead Trust: These trusts function in reverse of Charitable Remainder Trusts. A donor places money into a trust that pays a fixed amount to MIM for the number of years selected. Once the period ends, the remainder of the trust is transferred to the donor’s beneficiaries. In some cases, a donor would receive a substantial reduction in federal gift and estate taxes.

Retirement Plans & Life Insurance Policies: Gifts of life insurance and retirement assets (401Ks, IRAs) are also ways to make a planned gift. In both cases, MIM would be named as the beneficiary of the account or policy, and not simply mentioned in the will.

Please note that gifts of this nature should be carefully considered in relation to your comprehensive financial and estate plans. We strongly recommend that you consult an attorney in the preparation of your will and to supervise its execution so as to comply with state and federal requirements.