The Legacy Circle recognizes Members and friends who demonstrate their deep commitment to the visual arts by making a planned or deferred gift, or by including the Brooklyn Museum in their estate plans. Through their foresight and generosity, Legacy Circle Members play a key role in establishing a sound foundation for the Museum and ensuring its growth and success in the future.
You can become a Member of the Brooklyn Museum Legacy Circle by informing our Development Office that you have made a provision for a bequest to the Museum in your will or under your revocable trust, or that you have named the Museum as the beneficiary of your retirement plan, IRA, or life insurance policy. We can also work with you and your attorney to structure other planned gifts that best meet your charitable goals while remaining tailored to your financial needs.
Legacy Circle Members receive a specially crafted gift bearing the insignia of the Circle, and invitations to an annual luncheon for Circle Members as well as select Museum events and programs. With their permission, Circle Members are acknowledged on our website and in other publications.
How to Give
Bequests and Trusts
A bequest is one of the simplest ways to provide for the future of the Brooklyn Museum and can take many forms.
You may arrange for the Museum to receive:
- a specific dollar amount;
- specifed assets, such as securities, jewelry, or works of art;
- all or a percentage of the remainder of your estate after all other obligations (a residuary bequest).
You may make a bequest to the Brooklyn Museum by preparing a new will or adding a codicil to your present will, or under your revocable trust.
An outright bequest to the Brooklyn Museum is fully tax-deductible for estate-tax purposes.
Other Planned Gifts
Another simple way to include the Museum in your estate plan is by naming it as a beneficiary of your retirement plan, IRA, or life insurance policy. By designating the Brooklyn Museum as a recipient of any benefits remaining in your retirement plan, you may reduce the taxes imposed on those assets. You should explore the tax implications of these types of gifts with your professional advisors.
The most useful bequest is an unrestricted bequest for the general purposes of the Museum. This permits the Museum to use your gift wherever it is most needed at the time. Suggested language for making an unrestricted bequest is as follows:
“I give, devise, bequeath [the sum of __ dollars], [all or percent of the rest, remainder, and residue of my estate of every kind and description (including lapsed legacies and devises)] to the Brooklyn Museum at 200 Eastern Parkway, Brooklyn, New York, for its general corporate purposes.”
If you do wish to specify a use for your bequest, the following language will ensure that your gift always remains productive:
“If at any time in the judgment of the Trustees of the Brooklyn Museum the designated use of this bequest is no longer practicable or appropriate, then the Trustees shall use the bequest to further the general purposes of the Museum, giving consideration, where possible, to my special interest as described herein.”
For More Information
Please call the Development Office at (718) 501-6436 or email us.