Legacy Giving

 

Northfielders have a proud tradition of preserving and passing on their stories for the education and enrichment of future generations. As today’s stewards of history, we can take great pride in carrying on Northfield’s commitment that history matters. The history we save and the history we make will be our legacy to the future.

You are invited to partner with the Northfield Historical Society to collect, preserve and record history by making a current or deferred gift to the Society’s endowment. Your gift will provide ongoing support for the Society’s programs and benefit future generations for years to come.  If you are interested in making a Legacy gift please contact the Executive Director at 507-645-9268.

 

 

Types of Giving

 

Bequests:
Leave a gift specified to NHS  in your will.  The easiest way to do that is by designating a percentage of an account or an IRA or a life insurance policy be gifted to NHS. You may restrict your gift to a certain purpose or the gift can be unrestricted. Unrestricted gifts may be placed in the Museum’s general operating fund or the Endowment Fund. If you have a specific purpose in mind for your gift, please discuss it with the Executive Director.

 

Cash Gifts:
Cash gifts, either restricted or unrestricted, to NHS are always welcome. If cash gifts are unrestricted they will be used for general museum operations. NHS places all memorial contributions into the Society’s general operating fund unless a donor specifies another purpose. The society has several donation fund options:

Endowment Fund
General Fund
Capital Building Fund
Archives/Collections Fund

Personal Property:
Artwork, jewelry or other personal property can be donated or given as a bequest to the Historical Society. If the property has appreciated in value, there is a distinct tax advantage to contributing these items to NHS. A charitable deduction can be claimed for the value of the items at the date of the gift, subject to the current tax laws. An accountant should be able to discuss these options with you. 

Securities:
Gifts of stocks and bonds can offer a two fold benefit to you if their value has increased from the time you acquired the security. Under existing tax regulations, you are entitled to a charitable deduction equal to the value of the securities at the date of the gift. This may reduce taxable income for you. In addition, you will not be liable for capital or ordinary gains tax on the difference. Securities can be transferred by your investment broker or NHS’s broker to our legal name.

Real Estate:
As with any gift of appreciated property, a gift of real estate may generate a charitable deduction for the full fair market value. There would be no tax obligation on the difference between the full fair market value and the tax basis. All gifts of real property must be approved by the NHS Board of Directors prior to acceptance of the property.

If you are interested in making a gift to NHS, please contact Executive Director Cathy Osterman at (507) 645-9268.