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Planned Giving

Trustees of Tradition: Building the Museum's Future through Planned and Estate Gifts

Linda KeownLinda Keown has invested more than twenty years in the Museum of Art and Archaeology as a docent and as a member of the Museum Associates, the Museum's friends group. But perhaps her most lasting legacy will be through her planned gift to the Museum of Art and Archaeology.

"I believe the arts play a vital role in defining who we are as a people, and in framing our values as a community. My gift to the Museum of Art and Archaeology reflects what I value, and helps pass those values on to the future."

How will you be remembered?

Planned giving lets you support the Museum of Art and Archaeology through an estate gift. You don't have to be wealthy or famous to leave a permanent, meaningful legacy. All that's required is concern for others and the desire to be remembered for more than just the assets you have accumulated. We make planned giving simple, so you can enjoy the benefits of knowing your legacy will live on through the Museum of Art and Archaeology.

The easiest way to create a planned gift is through a bequest. The language for a bequest can seen here (opens new window). You may either define your bequest directly in your will, or the University's Office of Gift Planning and Endowments will prepare a separate endowment document at no cost to you, which can then be referenced in your will or estate plan. By using this latter planning strategy, you will retain the option to alter the purpose or use of your endowment fund without the expense and inconvenience of amending your estate plan. Through this document the endowment is created now, so you can get all the details right, but funded later through your will or estate.

Retirement accounts and life insurance policies are also effective ways of making a planned gift to support the Museum. The University of Missouri's Museum of Art and Archaeology can be named as the beneficiary of your retirement account. This gift option may provide significant income tax and estate tax benefits. Permanent life insurance policies may also be donated to the University on behalf of the Museum of Art and Archaeology. You generally will obtain the greatest tax benefits by naming the Museum of Art and Archaeology at the University of Missouri as both the owner and beneficiary of the gifted policy.

Depending on your financial situation and needs, other planned giving options are available and may be preferred.

  • A charitable gift annuity is a simple, contractual agreement between the University of Missouri and a donor in which assets are transferred to the University on behalf of the Museum of Art and Archaeology in exchange for life payments. Payments can be for one or two persons. Rates are based on age. After the annuitant's lifetime the remainder is available to be used by the Museum as specified by the donor.
  • When donors transfer cash or other assets to a charitable remainder trust, these funds are invested, and quarterly income from the trust is paid to the donor or to others chosen by the donor. When the trust is terminated, the remaining funds are transferred to the Museum.
  • The University of Missouri’s Pooled Income Fund is similar to a mutual fund. This fund allows gifts to be "pooled" with those from other donors, and prorated shares of the fund’s earnings are distributed to all donors. After a donor’s lifetime, the remainder of his or her interest in the fund is transferred to the Museum.
  • A retained life estate allows donors to contribute their home to the University on behalf of the Museum while continuing to live there. Through the University, the Museum becomes the sole owner of the property either when donors choose to move from their home or after their lifetime.

Staff in the University's Office of Gift Planning and Endowments can work with you to ensure you receive maximum financial and tax benefits from your support of the Museum.

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Museum of Art and Archaeology | College of Arts and Science | University of Missouri
1 Pickard Hall | Columbia, MO 65211-1420 | phone: 573-882-3591 | fax: 573-884-4039 | Email the museum
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