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Leaving a Legacy

Chesapeake Bay Maritime Museum is deeply honored to be remembered in a supporter’s estate plan. If you intend to make a charitable gift through your estate, please meet with your attorney to discuss and update your will.

CLICK HERE FOR PLANNED GIVING TOOLS AND RESOURCES

Let Us Know

We hope you’ll tell us when you name CBMM in your will, as we would like the opportunity to thank you for your generosity. If you prefer to remain anonymous, your gift will be kept completely confidential. At the same time, recognition of your give can encourage others to do the same.

Whatever the case, we greatly appreciate your support and will honor your wishes. If you have questions about a bequest or an endowment donation, contact Liz LaCorte at llacorte@cbmm.org or 410-745-4956.

Gift by Will or Bequest

Leaving a gift to Chesapeake Bay Maritime Museum through your will or living trust (referred to as a bequest) is an easy and significant way to benefit CBMM. 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 (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 of 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 (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 donor and CBMM that includes background information provided by the donor 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 Planning Giving website is not offered as legal or tax advice.

Gifts to the Endowment

When you make a gift to the endowment, you make a gift with a future! Endowment gifts guarantee that financial support is readily available for CBMM’s future needs.

Gifts to the CBMM 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 CBMM and the donor. 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 & 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 and 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 and Hank Spire Operating Endowment
  • The John R. Valliant Log Canoe Fund
  • The Vane Brothers Company Endowment

Use your IRA to support CBMM!

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). IRA gifts can be accomplished simply and without tax complications. Plus, you can make the gift now—while you are able to witness the benefits of your generosity.

You may contribute funds this way if:

  • You are age 70 ½ 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, contact Liz LaCorte at llacorte@cbmm.org or 410-745-4956 for special instructions. You can then contact your IRA custodian to transfer the desired amount.