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Endowments & Planned Giving

Planned Giving: Leaving a Legacy:

Gift by Will or Bequest
The Museum is deeply honored by being remembered in a supporter’s estate plan. If you plan to make a charitable gift by will, please meet with your attorney to discuss and update your will.

Leaving a gift to the Chesapeake Bay Maritime Museum through your will or living trust (referred to a “bequest”) is an easy and impactful way to benefit the Museum.

 

The sample language provided below illustrates how a bequest can be accomplished, and is intended to be used for educational purposes rather than as legal advice. We encourage donors to share this information with their legal counsel. We also recommend that you review your bequest with CBMM’s Advancement Office to ensure that your plans are carried out as you wish.

For General or Undesignated Support of CBMM:

“I give:
________% of my estate,
OR
the sum of $_______,
OR
the real property described on the deed as ___________,
OR
personal property described as _____________,
OR
all the rest, residue, and remainder of my estate,
OR
____________________% of the rest, residue, and remainder of my estate
to the Chesapeake Bay Maritime Museum (www.cbmm.org) to further the purposes and objectives of the Museum as may be recommended by the President and approved by the Board of Governors.”

To Establish a Designated/Restricted Fund or Gift Use:

“I give:
________% of my estate,
OR
the sum of $_______,
OR
the real property described on the deed as ___________,
OR
personal property described as _____________,
OR
all the rest, residue, and remainder of my estate,
OR
___________________________________% of the rest, residue, and remainder of my estate to the Chesapeake Bay Maritime Museum (www.cbmm.org) to be used in accordance with the most recent Statement of Intent I have executed with the Chesapeake Bay Maritime Museum. If no Statement of Intent exists at the time of my death, then I intend this gift to support ___________________________________________________ [insert name of Program/Purpose]. If no such program is in existence then to the Chesapeake Bay Maritime Museum to further the purposes and objectives of the Museum as may be recommended by the President and approved by the Board of Governors.”

NOTE: The Statement of Intent mentioned above is a short agreement between the donors and the Museum, which includes background information provided by the donors and specifics on how the gift will be used. Donors may amend the Statement of Intent as often as they like without the necessity of amending their will or living trust.

Beneficiary Designation

When naming the Chesapeake Bay Maritime Museum as a beneficiary of your retirement plan, IRA, life insurance policy, charitable trust or charitable gift annuity, please use the following information on your beneficiary designation form.
Chesapeake Bay Maritime Museum

213 N Talbot Street
St. Michaels, MD 21663
Federal Tax ID Number: 23-7051889

 

 

The material presented on this Planned Giving website is not offered as legal or tax advice.

Let Us Know
We hope you’ll tell us when you have named the Museum in your will. We would very much like the opportunity to thank you for your generosity. If you prefer to remain anonymous, your gift will be kept completely confidential. But at the same time, recognition of your gift can encourage others to do the same. Whatever the case, we greatly appreciate your support and will honor your wishes. If you have any questions or other specific requests about a bequest, please contact Jen Matthews at 410-745-4959 or e-mail jmatthews@cbmm.org.


Endowments: Gifts That Keep Giving:

When you make a gift to the endowment, you are making a gift with a future! Your endowment gifts guarantee that financial support will remain readily available for the future needs of the Museum.

Gifts to the Museum’s endowment (currently valued at more than $11 million) are permanently invested to supply a steady, annual source of funds for the purposes agreed upon by the donor and the Museum. A new named endowment may be established for a minimum contribution of $25,000. Gifts of any size may be added to an existing endowment fund.

Education and Curatorial Endowments

  • The Boatbuilding Apprentice Fund
  • The Norman H. and Ellen K. Plummer Howard I. Chapelle Memorial Library Endowment
  • The Collection Acquisition Endowment
  • The Curatorial Endowment
  • The J. Douglas Darby Memorial Education Endowment
  • The J. Douglas Darby Library Endowment
  • The Davenport Family Foundation Endowment
  • The Education Endowment
  • The Fichtner Community Sailing Endowment
  • The Maintenance for Floating Exhibits Endowment
  • The Jean McIntosh & William Carveth Heyn Endowment Fund
  • The George F. Johnson Endowment
  • The Program Endowment for the Kerr Center for Chesapeake Studies
  • The Kimberly-Clark Endowment, in Memory of Robert J. Kimberly
  • The Lenfest Foundation Lecture Series Endowment
  • The Lighthouse Endowment
  • The James Michener Intern Endowment
  • The Phillip E. Nuttle Waterfowl Endowment
  • The David & Susan Pyles Community Sailing Endowment
  • The Sailing Club of the Chesapeake Sail Training Endowment
  • The Chesapeake Bay Log Canoe Trophy Endowment
  • The C.V. Starr Scholarship Endowment
  • The Barbara Stewart Museum Store Endowment
  • The Dr. Charles H. Thornton Education Program Endowment Fund
  • The Trumpy Yacht Endowment
  • The Ernest and Jane Tucker Apprentice Endowment
  • The George Harry Wagner Memorial Scholarship Endowment
  • The Webster Endowment
  • The Ralph H. Wiley Education Endowment

Operating Endowments

  • The J. Howard Adkins Memorial Endowment Fund
  • The David B. Baker, Jr. Memorial Endowment
  • The Bedford Family Fund Operating Endowment
  • The Bruce Ford Brown Memorial Operating Endowment
  • The Buildings & Grounds Endowment
  • The Edward B. Freeman Memorial Operating Endowment
  • The Constance Stuart Larrabee Endowment
  • The Dundas Leavitt Memorial Operating Endowment
  • The Peter Max Operating Endowment
  • The Memorial Operating Endowment
  • The Fred and Nancy Meendsen Endowment
  • The Members Operating Endowment
  • The John B. Mencke Memorial Endowment
  • The Sumner and Frances Parker Endowment
  • The J. Thomas and Eleanor Requard Operating Endowment
  • The J.W. Sener, Jr. Endowment
  • The W. Mason Shehan Memorial Endowment Fund
  • The Ralph Simmons Operating Endowment
  • The Linda & Hank Spire Operating Endowment
  • The John R. Valliant Log Canoe Fund
  • The Vane Brothers Company Endowment

 

 

 

 

Planned Giving
Use Your IRA as Never Before!

The Pension Protection Act of 2006 encourages financial support of charitable organizations by allowing donors to make a lifetime gift using funds from their individual retirement account (IRA) without undesirable tax effects. IRA gifts can be accomplished simply and without tax complications. Plus, you can make the gift now—while you are living and able to witness the benefits of your generosity.

You may contribute funds this way if:

    • You are age 70½ or older
    • The gift is $100,000 or less each year
    • You transfer funds directly from an IRA or Rollover IRA
    • You transfer the gift outright to one or more public charities, but not supporting organizations or donor advised funds.

How to Make a Gift of an IRA
Prior to making a gift, contactRené Stevenson at 410-745-4950 or e-mail rstevenson@cbmm.org, for special instructions. You can then contact your IRA custodian to transfer your desired amount.

Gift by Will or Bequest
The Museum is deeply honored by being remembered in a supporter’s estate plan. If you plan to make a charitable gift by will, please meet with your attorney to discuss and update your will.

Let Us Know
We hope you’ll tell us when you have named the Museum in your will. We would very much like the opportunity to thank you for your generosity.If you prefer to remain anonymous, your gift will be kept completely confidential. But at the same time, recognition of your gift can encourage others to do the same. Whatever the case, we will honor your wishes, because we appreciate your support. If you have any questions or other specific requests about a bequest, please contact René Stevenson at 410-745-4950 or e-mail rstevenson@cbmm.org.