Legacy and Planned Giving

The Hiller Aviation Museum accepts a variety of planned gifts through partnership with the Silicon Valley Community Foundation. Any of these gifts will qualify you to join the Museum’s Legacy Society, a special group of visionary philanthropists recognized for the commitment they have made to the future of our community.

Bequests

The simplest way to leave a planned gift to benefit our community is to make a bequest by including specific language in your will or living trust naming the Hiller Aviation Museum as the recipient of a testamentary gift. Your will or living trust can include gifts in the form of cash, securities, or personal property. You may contribute a specific dollar amount, a percentage or the residual of your estate in this manner. Your estate will receive a charitable deduction for the full donation, so your heirs will not pay estate tax on these assets. Please contact us (see below) for sample language.

Charitable Remainder Trust

By transferring assets to a charitable remainder trust, you will receive an immediate tax deduction and income for you or your named beneficiaries for life or for a term of years. You may also reduce or avoid capital gains taxes associated with the asset. When the trust’s term is complete, the remaining assets will pass to the community foundation. If desired, Silicon Valley Community Foundation has the capacity and expertise to act as trustee of your charitable remainder trust. Please contact us (see below) for more information regarding our partnership with the Silicon Valley Community Foundation.

Retirement Plan Donations

Naming the Hiller Aviation Museum as a beneficiary of your retirement funds, such as an IRA, 401k, or 403b, is a simple and effective way to benefit the community while avoiding significant, often unanticipated tax penalties. Donating retirement accounts can reduce or eliminate these taxes. Please contact us (see below) for more information regarding our partnership with the Silicon Valley Community Foundation.

Pooled Income Fund

If you are interested in the tax-saving benefits of a charitable trust, but also want to minimize investment risk and investment overhead costs, consider a pooled income fund gift. Your gift is combined with gifts from many members of the community to create a common investment portfolio. It operates much like a mutual fund. Your gift is invested and 100% of the net income is distributed in proportionate shares to you, or to whom you designate. Your gift to the Hiller Aviation Museum pooled income fund creates life income for you as well as an immediate income tax deduction for a portion of the gift. By funding your gift with an appreciated asset you might also avoid or reduce capital gains tax that you might otherwise have incurred by selling the asset outright.