Charitable Giving

Giving a charitable gift to the Elmhurst Art Museum (EAM) is an important decision.

The satisfaction of giving comes with knowing that you are investing in the quality of life in our community. By investing in the Museum, you help to ensure excellence in educational programs and exhibitions, the collection of fine art, maintenance of the McCormick House and the Museum’s future financial stability. Either way, your giving makes a tremendous impact on our success.

Yes! I want to support the Elmhurst Art Museum as a donor!

Giving TODAY

Giving to the Elmhurst Art Museum’s Annual Fund is a great way to show support for its mission while allowing the Museum the flexibility of determining which programs to direct your funds. By giving unrestricted gifts to the Annual Fund, your donation will go to the area of greatest need whether it is educational program development, exhibitions or facility maintenance.

There are several different methods for giving whether they are outright gifts or pledges. Please check with your attorney or financial advisor for current tax benefits.

Cash gifts
The benefit of a cash donation is that your actual out-of-pocket cost is less than the dollar amount of the gift, because of the allowable income tax deduction. The actual savings from the tax deduction of your contribution varies with your tax rate. Generally, the higher your tax rate, the greater the savings.

Gifts of property
Gifts of property, such as marketable securities, stock or real estate, may provide an ideal way for you to make a contribution. Gifts of this type may be more advantageous than outright cash gifts because you can make a larger gift at a reduced cost.

Gifts of personal property
Works of art and books given to enhance the Museum’s collection are also important. Your deduction will depend on the appraisal value and how the Museum will use the gift.

Giving LATER

Planned gifts are charitable gifts designed to maximize tax benefits, enhance financial planning, and can be an important component of a comprehensive retirement plan. They are often called deferred gifts because these charitable gifts are created today to provide funds that assure for the continued excellence of EAM well into the future.

Wills and Trusts
One way to make a deferred gift is to include specific language in your will or trust, naming the Elmhurst Art Museum as the recipient of your planned gift. You may include:

1. Tangible assets, cash, personal property and real property
2. A percentage of your estate
3. The residue of your estate
4. Intangible assets, including life insurance, retirement savings and other deferred gifts

What is a charitable gift annuity?
It is an agreement between you and EAM. You agree to make a gift of cash or appreciated securities to the Museum or program of interest to you. In turn, we invest these funds and agree to pay a fixed percentage of income to you every year. The yearly income amount is determined by your age at the time of your contribution. The older you are, the higher your rate is; the rate remains constant once the gift is made.

Life Insurance
Life insurance provides an effective way to benefit EAM.

1. The gift of a life insurance policy will provide the Museum with a substantial deferred gift while you pay relatively modest premiums.
2. The gift of a paid-up or partially paid-up insurance policy may be advantageous if your family responsibilities are no longer as substantial as they were in the past.
3. The gift of life insurance will not be delayed during the administration of your estate, and proceeds from the policy can be paid promptly to EAM.

Retirement Savings
Another way of making a charitable contribution to the Museum is to name a beneficiary of a portion of your retirement funds. If you wish to make this type of gift, you should contact the administrator or person in charge of your individual retirement account, profit sharing account or other retirement plan.

Other Ways to Give

Sponsorships

Art in the Park
Held the first weekend in May each year, Art in the Park attracts more than 10,000 visitors to Wilder Park and the Museum in one weekend. Over 150 artists display their work while music, entertainment and various children’s activities take place on-site at the Museum. Sponsorship amounts vary.

Annual Benefit
The Museum’s first major fundraiser is scheduled for October 22, 2004 at the Drury Lane Oak Brook to highlight the exhibition of the Zhou Brothers, which opens on October 9 at the Elmhurst Art Museum. Event and table sponsorships are available.

Exhibitions
The Museum has ongoing maintenance, installation and marketing costs associated with every exhibition. Your sponsorship support helps to defray these costs. As a sponsor, your name can appear on a variety of Museum related materials such as gallery guides, newsletters and the like. Costs vary with the type of exhibition, as does the kind of recognition.

For more information on sponsorships, please call the Development & Marketing Director, April Arnold at (630) 834-0202, x13 for more information.

In-Kind Donations
Each year, individuals, companies and organizations provide needed supplies and services to the Museum, allowing more of our operating budget to go directly toward funding EAM programs and exhibitions. The following is a list of items we are in need of:

• Occasional cleaning or facility maintenance services such as painting
• Office products
• Graphic design services
• Printing services

If you would like to donate something you feel could be of use to the Museum, please call Assistant Director, Heather Pastore at (630) 834-0202, x10.