There are a number of ways in which a donor can leave a legacy that will help ensure the Museum's continued vitality for years to come. And, planned gifts may well have significant tax advantages for the donor and his or her heirs. The Fairbanks Museum and Planetarium is a 501 (c) (3) educational organization. Contributions are deductible to the maximum extent allowed by law. Donors should consult their tax advisors or estate planners about how best to accomplish their goals.
Options currently available to donors through the Museum's Development Office include bequests (gifts by will made at the time of the donor's death) as well as life income gifts such as charitable remainder annuity trusts which can entitle the donor to an income tax deduction as well as providing the donor with a fixed annual income.
How are planned gifts used? Bequests or other kinds of planned gifts can be used by the Museum toward its endowment, as unrestricted support, or as part of a fund for a specific project. To ensure that the Museum can honor your wishes, the donor is encouraged to consult with the Museum about the purpose of the gift before you have named the Museum as a beneficiary.
If you are interested in finding out more about the Museum's Planned Giving program, please contact the Museum's Development Officer, Bethany Lyn Latham. All information will be treated with complete confidentiality.