The Minerva Society

Planned Giving at the Academy

The Academy’s impact in the world today is the result of a tradition of giving that dates back to the founding of America. We invite members to continue this legacy by joining the Minerva Society with a planned gift. 

Join the Minerva Society

Planned giving provides an individual with the opportunity to strengthen the Academy’s mission while also gaining financial and tax benefits. The Academy’s planned giving staff can work with you to identify options that best meet your goals.

 

PLANNED GIVING - WAYS TO GIVE

There are two ways to make a bequest:
Specific: You can give a specific dollar amount or specific assets, such as securities, real estate, or tangible personal property.
Residuary: You can give the Academy all or a portion of your estate that remains after all your specific bequest provisions have been fulfilled.

The following language may be used when creating a bequest provision for the Academy:
“To the American Academy of Arts and Sciences in Cambridge, Massachusetts, I give (______ dollars or ______% of the residue of my estate) for its general purposes.”

When left to heirs, retirement plans may be subject to both estate and income taxes, which can amount to a substantial portion of the assets.
Many people elect to avoid these taxes by designating a charitable beneficiary of their retirement accounts.

Individuals utilizing a donor-advised fund for philanthropy may designate the Academy to receive either a fixed sum or a fixed percentage of a remaining account balance as a planned gift.

A charitable gift annuity allows an individual to make a charitable gift but retain a fixed income stream for life. An income tax deduction can be claimed for the present value of the Academy’s remainder interest.

With the passage of the SECURE Act 2.0 in 2022, you can now use a Qualified Charitable Distribution to establish a charitable gift annuity.

A charitable remainder trust allows you to make a charitable gift but retain a variable income stream (for yourself and/or others) for life or a fixed number of years. You can also claim an income tax deduction for the present value of the Academy’s remainder interest.

MEMBERS OF THE MINERVA SOCIETY 

Joanne Berger-Sweeney

Louise H. Bryson and John E. Bryson

Mabel Cabot

Alan M. Dachs

John G. Hildebrand and Gail D. Burd

Mathea Falco

Mary P. McPherson

Gilbert S. Omenn and Martha Darling

David W. Oxtoby and Claire Oxtoby

John W. Rogers, Jr.

James A. Stimson and Dianne Stimson

 

Contact Us & Learn More

To learn more about the Minerva Society, please call the Academy’s Development Office at 617-576-5066 or send us an email.

This information is not intended to serve as legal or financial advice. Please contact your own attorney or financial advisor regarding your gift and estate planning.

The American Academy is a 501(c)(3) charitable organization.

In addition to planned giving, there are a variety of other ways to support the Academy. Please explore our website to learn more.