Over the years, many of our most devout supporters have elected to name the Steamship Historical Society of America as a beneficiary in their wills, life insurance policies, and retirement plans. For that reason, SSHSA has established the FellowShip League to honor those individuals for their generosity.
The Steamship Historical Society of America has been the fortunate recipient of planned donations since the organization was founded in 1935. In the early years, most of the donations formed the base of the SSHSA collection. Then, in 1978, Thomas A. Larramore left a bequest of over $500,000, creating an endowment that benefits the society to this day.
In 2010, a long-term, planned gift from the Posner Family established our Virtual Museum, where art from the Posner Maritime Art Collections and other works from collections such as the Braun Brothers Photographic Collection and the Chase Collection of Maritime Travel Posters can be viewed and enjoyed across the world.
Almost anyone who can make a will can make a charitable bequest without adversely affecting their family’s security. In fact, federal estate tax laws and the laws of many states encourage charitable bequests. An outright charitable bequest, no matter the size, is fully deductible for federal estate tax purposes and may reduce your taxable estate.
Ways to Give
There are several methods by which income, capital gains, estate, gift, and inheritance taxes can be substantially reduced, with the result that both the donor and the society benefit from this generosity. Careful, informed planning can also enable you to soften the tax burden for your heirs.
The following considerations may be helpful planning or amending your will:
- Life insurance policies or retirement accounts
- Stocks and other securities
- Real or personal property
- Charitable lead trusts
- Charitable remainder trusts
- Contribution of a residence (while retaining the right of use as long as the donor shall live)
- Appreciated securities/property
Contact Sydney Austin or Mary Roda of the Development Department of SSHSA to begin planning your gift.
If you have already included SSHSA in your will, please let us know so that we may enter your name in the FellowShip League and keep you aware of special information for those members.