Skip to content Skip to footer

Planned Giving

Visitors looking at a painting

Gifts from Retirement Plans at Death

Retirement-plan benefits often make an excellent choice for funding a testamentary charitable gift to the Barnes. Not only will such a gift escape federal income tax, but it will also avoid any potential federal estate tax. This combination of income taxes and estate taxes could result in a tax hit of more than 62% of the retirement-plan benefits.

If, for example, you have designated your children to be the beneficiaries of $100,000 of your retirement-plan benefits, and your estate is subject to federal estate taxes, your children could lose $40,000 to federal estate taxes and as much as an additional $22,200 to federal income taxes for a total reduction in benefits of $62,200. If, however, you designate the Barnes as the beneficiary of that $100,000, the full amount will pass to us with no reduction in benefits.

More Information

Contact Us

Nina McN. Diefenbach
SVP, Deputy Director for Advancement
215.278.7111
ndiefenbach@barnesfoundation.org

Federal Tax ID Number: 23-6000149

 

The Barnes Foundation
2025 Benjamin Franklin Parkway
Philadelphia, PA 19130

© Pentera, Inc. Planned giving content. All rights reserved.
Disclaimer