Through a charitable gift annuity, you can make a gift to the MMA and receive fixed annual payments as well as income and estate tax benefits. A gift annuity is a simple, contractual agreement between a donor and the Maria Mitchell Association in which you give assets to us in exchange for our promise to pay you a fixed sum for life.

When you create a charitable remainder trust, you give money, securities or other assets to a trust you create that will then pay you an income for life or for a period of years (not to exceed 20). If you wish, the trust also can pay an income to other beneficiaries of your choice. At the death of the final beneficiary, the remaining balance in the trust goes to the MMA.

There are several ways you can donate real estate or personal property. Each method presents distinct advantages, depending on your circumstances and goals. By giving property to the MMA, you can avoid or reduce the capital gains tax you would otherwise pay upon sale, you may be able to take a substantial income tax deduction, and you may choose to receive income for life.

Individual Retirement Accounts (IRAs), company-sponsored pensions, profit-sharing plans and other methods of saving for retirement may be appealing as sources for charitable gifts. If you are over age 59 ½ and find that you have more than adequate resources set aside for retirement, you may choose to use a portion of your retirement funds to make charitable gifts which may reduce your estate and income taxes.

You can make the MMA the beneficiary of a life insurance policy, and your estate will receive a charitable deduction from estate taxes for that gift.