Join the Reher Center Legacy Circle!

Eligibility

Membership in the Legacy Circle is open to individuals who have:

• Included the Reher Center in a will or trust
• Named the Reher Center as a beneficiary of a retirement account or life insurance policy
• Made another form of planned gift

There is no minimum gift amount.

Legacy Circle recognition is based on intent, not on the size or timing of a future gift.

Bequests

The Legacy Circle reflects belief in the future — not annual capacity. Including the Reher Center for Immigrant Culture and History in your will is a meaningful way to help sustain this place for future generations. A bequest allows you to make a lasting commitment to the stories of work, immigration, and community that define the Reher Center — while maintaining full flexibility during your lifetime.

Bequests, which may be made through a will or revocable trust, are among the most common and impactful forms of planned giving. They can be designated to support the Reher Center’s general operations or directed toward a specific program, initiative, or area of greatest need.

In addition to strengthening the Center’s long-term stability, a charitable bequest may offer estate-planning benefits, including a potential estate tax deduction for the full value of the gift. Most importantly, it ensures that the Reher Center can continue to welcome visitors, preserve its historic bakery, and share the stories that connect past and present.

You may find this language useful as you write your will.

I hereby give, devise, and bequeath to the Reher Center for Immigrant Culture and History, a not-for-profit educational corporation located at 101 Broadway, Kingston, NY 12401, [_____ dollars ($_____)] or [_____ percent (_____ %) of my (residuary) estate] for its general support.

While the sample above is for an unrestricted bequest that supports our mission, bequests can also be designated for a specific purpose or to create an endowment. If you plan to restrict your bequest, please contact us so we can assist you through the process and ensure we understand how you would like your gift to be used when it arrives.

Retirement Plan Gifts

Retirement accounts often make up a significant portion of an individual’s savings, and for many supporters they can be a thoughtful way to include charitable giving as part of long-term planning. Assets held in tax-deferred retirement plans — such as IRAs, 401(k)s, 403(b)s, and similar accounts — can be designated to benefit the Reher Center by naming the organization as a beneficiary to reduce or remove the tax consequences.

Because retirement assets are typically subject to income taxes when passed to individuals, they can be one of the most tax-efficient ways to support a charitable organization. When these assets are directed to the Reher Center, which is tax-exempt, they may pass without being reduced by income or estate taxes. (Beneficiaries who are private individuals will pay taxes against this form of tax-deferred inheritance.) For this reason, many donors choose to leave retirement plan assets to charity while using other types of property to provide for family and loved ones.

Supporters may name the Reher Center as the beneficiary of all or a portion of a retirement account, allowing them to maintain full control of the asset during their lifetime while making a meaningful commitment to the Center’s future.

For individuals age 70½ and older, it may also be possible to make qualified charitable distributions directly from an IRA during one’s lifetime. These gifts offer an opportunity to support the Reher Center now — and to see the impact of that generosity firsthand.

Life Insurance Gifts

Life insurance policies can offer a flexible and meaningful way to support the Reher Center for Immigrant Culture and History, particularly if a policy is no longer needed to provide for family members or other dependents.

One option is to name the Reher Center as the beneficiary of an existing policy. In this case, the policy remains yours during your lifetime, and the proceeds may be eligible for an estate-tax charitable deduction when they pass to the Center.

In some circumstances, supporters choose to transfer ownership of a paid or partially paid whole life policy to the Reher Center, making the Center both owner and beneficiary. When this occurs, it may be possible to receive an income-tax charitable deduction based on the policy’s value, subject to applicable IRS guidelines.

If premium payments are still required, donors may choose to make annual contributions to help cover those costs. These gifts are typically eligible for charitable deductions. Some supporters also choose to establish a new policy specifically for charitable purposes, naming the Reher Center as owner and beneficiary and contributing annually to support the premiums.

Life insurance gifts can create a lasting impact while offering flexibility in how and when support is provided.

Tangible Personal Property

Tangible personal property — such as artwork or other physical objects — may be given to the Reher Center either during your lifetime or through a bequest. Because these types of gifts require careful consideration, the Center must review them in advance to determine whether they can be accepted. We encourage anyone considering a gift of tangible personal property to contact us before making arrangements.

In some cases, donors who make lifetime gifts of tangible personal property that has been held long term and is accepted by the Reher Center may be eligible to claim an immediate income-tax charitable deduction and may avoid capital gains tax on the donated asset. The amount of the allowable deduction depends on how the property is expected to be used by the Center.

If the donated property is related to the Reher Center’s tax-exempt mission — for example, objects accepted into the collection for preservation or interpretation — donors are generally eligible to claim a charitable deduction equal to the property’s full fair market value, subject to applicable IRS limitations.

If the use of the donated property is not related to the Center’s mission, or if the property was held for one year or less prior to the gift, the charitable deduction is typically limited to the lesser of the donor’s adjusted cost basis or the property’s fair market value.