What will be your legacy? If it’s important to you that Seashore Trolley Museum’s collection and programs are here for the benefit of future generations, please consider including New England Electric Railway Historical Society in your estate planning.
Planned gifts are typically classified by the asset that is transferred (such as life insurance or real estate) or by the legal vehicle used (like a will or trust). Common forms of acceptable gifts are cash and publicly traded stock, or a percentage or specified dollar amount of a life insurance policy or retirement account.
Most commonly, an individual will name New England Electric Railway Historical Society in his or her will, bequeathing a set dollar amount or set percent of the estate to benefit the museum. (e.g., I hereby give and bequeath the sum of $25,000 to New England Electric Railway Historical Society; or I order and direct one-half of my estate to be distributed to New England Electric Railway Historical Society.)
You can become a member of the Seashore Trolley Museum – Founders Legacy Society If you let us know that you have provided at least $10,000 in planned giving for New England Electric Railway Historical Society in your will, trust, pooled life income fund, life insurance policy, gift annuity or retirement fund, you immediately become a full member of the Society. Your gift need not be irrevocable and we understand that situations change. It is your current expression of commitment to NEERHS that is important.
The Founders Legacy Society, named for those* who founded Seashore Trolley Museum in 1939, was established in 2017 to recognize and honor friends who intend to remember the New England Electric Railway Historical Society by making a bequest or other form of planned or deferred gift. Such gifts will benefit NEERHS in the years ahead without necessarily requiring that the donor fund the gift at the present time. While the gift is deferred, the benefits of membership in the Society begin immediately.
This is a unique opportunity for you to gain the personal satisfaction of making an investment that connects people to transit history now and for future generations.
Every gift strengthens NEERHS as it carries out its mission of preserving knowledge, context, and resources. NEERHS is deeply grateful for such support, and membership in the Founders Legacy Society provides one way for NEERHS to show its gratitude.
Seashore Trolley Museum – Founders Legacy Society members receive a membership certificate recognizing their intentions. Members are listed in the NEERHS Annual Report and are honored at Annual Meeting and Members Day.
*John E. Amlaw, Horton K. Banks, Charles A. Brown, Thomas H. Brown, Gerald F. Cunningham, Lucien B. Phinney, Theodore F. Santarelli de Brasch, Daniel M. Twomey
Here’s a special way to support New England Electric Railway Historical Society if you are age 70 ½ or older: With a charitable distribution from your IRA: The PATH Act signed into law on December 18, 2015 permanently extends the provisions allowing tax-free distributions by individuals age 70½ or older directly from their IRAs to qualified charities. The bill, allows taxpayers age 70 ½ or older to transfer up to $100,000 annually from their IRA accounts directly to charity without first having to recognize the distribution as income.
How it works:
- You must be 70 ½ or older and eligible to take your Required Minimum Distribution (RMD).
- Your total combined charitable IRA rollover contribution cannot exceed $100,000 in any one year. ($200,000 exclusions may apply for tax payers who are married and filing a joint return).
- Charitable contributions from an IRA must go directly to NEERHS. Contributions to donor-advised funds and private foundations do not qualify for tax-free IRA rollover contributions.
- Distributions can only be made from traditional Individual Retirement Accounts or Roth IRAs. Charitable donations from 403(b) plans, 401(k) plans, pension plans, and other retirement plans are ineligible for the tax-free treatment.
- Distribution must be made directly from the IRA trustee payable to NEERHS.
- In order to qualify for tax-free treatment, you cannot receive any goods or services in return for your charitable IRA rollover gift.
- You must receive an acknowledgement from NEERHS for a rollover-qualified gift.