Dear Museum Supporter,
Many have asked us how to help support the Wally Parks NHRA Motorsports Museum. Here are smart, easy, creative ways to give towards our mission:
- Online- Become a museum member. There are several membership options for you to choose from.
- Gifts of stock and cryptocurrency- avoid painful capital gains.
- Add the Wally Parks NHRA Motorsports Museum to your Will- create your personal legacy by giving a gift through your Will.
Over the years, many security holdings have unrealized gain. This is the good news. The bad news is that if these appreciated securities are sole, a significant portion of the gain will be lost to taxation. Year-end is a strategic time to consider the effectiveness of donating these types of assets.
Donating Appreciated Assets In making outright gifts, it is typically wise financial stewardship to give assets that are in the form of appreciated securities (ie., stocks or mutual funds). Unlike gifts of cash that have already incurred an income tax, gifts of these appreciated assets avoid the incurrence of capital gain tax. In addition, you receive an income tax charitable deduction for the full fair market value of the asset. That, in effect, makes these gifts less costly to make.
The benefits of donating stock: – Avoiding capital gain tax – Increasing financial support to museum – Larger tax deduction
This is a valuable way to leverage your giving to the direct work for the museum and take full advantage of the tax benefits allowed by government at this time. Though it is important to consider the tax implications of making gifts, it is also important to invest your giving in order to further the preservation and celebration of motorsports history while inspiring the next generation of dreamers and doers.
For further information or assistance contact:
Wally Parks NHRA Motorsports Museum 1101 W. McKinley Ave., Bldg 3A, Pomona, CA 91768
Dale Coleman at firstname.lastname@example.org or Gretchen Madrigal at email@example.com