Bequests and Memorial Gifts
Gifts by Trust
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Retirement Plan Assets and Gifts of Life Insurance
Gifts of Cash, Securities, and Property
Cash is the most direct way to make a gift toward achieving the Society’s mission. Gifts are tax deductible to the extent allowable by law.
We accept donations paid by Visa, MasterCard, and Discover Card as well. If you would like to set up a recurring credit card donation, please download and return the Recurring Credit Card Donation Authorization Form.
These investments may make excellent gifts for many donors to consider. When a person owns securities that have a long-term gain and gives them to the Steamship Historical Society of America, they are received at the current fair market value. The donor is able to deduct as a gift on his or her federal income tax return the full fair market value of the securities and avoids all capital gains tax.
The Steamship Historical Society of America will acknowledge your stock gift as follows:
We also have information about gifting securities via wire transfer.
Please contact our office at (401) 463-3570 for instructions on gifts of physical stock certificates, direct registration shares, closely-held stock, stocks held on a foreign exchange, or mutual funds. When contemplating year-end gifts, please note that gifts of mutual funds may take up to six weeks to complete.
Property—Real or Personal
Real estate may be given outright or with the donor retaining a life estate contract. If the gift is irrevocable, certain immediate tax benefits are obtainable, and the donor can continue to live in the property for the rest of his or her life. Other types of property would include giving rental or business real estate (either as an outright gift or retained life income); business inventories, assigning royalties for minerals, inventions, or copyrights, agricultural resources, antiques, paintings, etc.
Gifts of Appreciated Securities vs. Gifts of Cash
Suppose that you would like to increase your annual contribution to SSHSA from $2,500 to $5,000. Ten years ago, you purchased 200 shares of XYZ stock at $5/Share for $1,000. That stock is now worth $25/Share or $5,000. If you sell the stock outright, you will incur a taxable capital gain of $4,000.
Please note that the benefits of making such a gift may be fully realized only if you have held the shares 12 months or longer. Consult your tax advisor for assistance.
* This example assumes a 15% capital gains rate, a 35% income tax rate, and inclusion of income and capital gains taxes avoided by the donor.
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