Make the Mattatuck Museum Part of Your Legacy
Passionate about supporting the Mattatuck Museum? Want to ensure that we can continue our mission well into the future?
Leave a Legacy at the Mattatuck Museum
A planned gift to the Mattatuck Museum is one of the most meaningful ways to ensure that the art, history, and culture of Waterbury and the Naugatuck Valley endures for generations to come. Since 1877, the museum has preserved the stories, artifacts, and creative achievements of our region — and gifts from far-sighted supporters have made that mission possible every step of the way.
A planned gift costs you nothing today. It is a decision you make now, in your estate or financial plan, that creates a lasting impact on the community you love.
Ways to Make a Planned Gift
There are many ways to leave a legacy at the Mattatuck Museum. Work with your attorney, financial advisor, or estate planner to determine which approach is right for your circumstances.
How to Get Started
Arranging a planned gift is easier than most people expect. Here are simple first steps:
- Notify us — Let Maddie Stenson know you are considering a planned gift. This allows us to say thank you and ensure your intentions are properly recorded. Your gift does not need to be finalized to be recognized.
- Consult your advisors — Share your intentions with your attorney, financial planner, or estate advisor to determine the best giving vehicle for your situation.
- Update your documents — Work with your attorney to add or update beneficiary designations, will language, or trust documents.
There is no minimum gift size. Every planned gift — large or small — makes a difference.
To learn more or discuss your options confidentially, contact: Maddie Stenson, Development Officer 📧 maddie@mattmuseum.org | 📞 (203) 753-0381 ext. 120
🏛️ Bequest in Your Will or Living Trust
The simplest and most common planned gift. You designate the Mattatuck Museum as a beneficiary in your will or living trust to receive a specific dollar amount, a percentage of your estate, or the residual of your estate after other bequests are fulfilled.
Suggested bequest language:
“I give and bequeath to The Mattatuck Historical Society, Inc. (Mattatuck Museum), a nonprofit organization located at 144 West Main Street, Waterbury, Connecticut 06702, [the sum of $____ / __% of my residuary estate] to be used for its general purposes.”
💰 IRA or Retirement Account Beneficiary Designation
Retirement accounts such as IRAs and 401(k)s are among the most tax-efficient assets to leave to a nonprofit. When left to heirs, retirement account assets are often subject to both estate and income tax. When left to a charity like the Mattatuck Museum, they pass completely free of tax — meaning 100 cents of every dollar goes directly to the museum’s mission.
Simply contact your retirement account administrator and request a beneficiary designation form — no attorney required.
Assets in qualified (tax-deferred) retirement plans may represent a large portion of your total assets and therefore may be an important factor in planning testamentary charitable gifts. Retirement assets generally considered suitable for charitable gifts include such plans as IRAs, Keoghs, SEPs, 401(k)s, 403(b)s, and ESOPs.
Left to family members or friends, these assets are subject to income tax and may also be subject to estate tax and generation skipping transfer tax. Because of this potential double layer of tax, retirement plan assets may be particularly attractive as an asset to leave as a gift. In other words, if you designate us as a beneficiary upon your death of all or a specified percentage of a retirement plan, the portion of the plan payable to us will generally escape estate taxes, and we, as a tax-exempt institution, will not be required to pay income tax on the distributions. As a general rule, if you intend to make both non-charitable and charitable gifts at death, it makes sense to consider using your tax-deferred retirement plan assets for charity and other assets for heirs.
If you are thinking about donating retirement plan assets, you should discuss the matter with your advisers beforehand.
🎁 Charitable Gift Annuity
A charitable gift annuity allows you to make a gift to the Mattatuck Museum now and receive guaranteed fixed income payments for the rest of your life in return. The rate of return depends on your age at the time of the gift. You also receive a partial charitable deduction in the year the gift is made.
This option is ideal for donors who want to support the museum while also securing a reliable income stream during retirement.
📋 Charitable Remainder Trust
A charitable remainder trust (CRT) allows you to transfer assets, such as appreciated stock, real estate, or cash, into a trust that pays income to you (and/or other beneficiaries) for a period of years or for life. At the end of the trust term, the remaining assets pass to the Mattatuck Museum. You receive an immediate partial charitable deduction and avoid capital gains tax on appreciated assets placed in the trust.
Charitable remainder trusts allow you to provide the Museum with a gift and retain a benefit from the assets you give at the same time. These separately managed trusts can be tailored to meet your financial goals with respect to the payout rate, type of income stream (variable or fixed), and payment schedule. To establish a remainder trust, you make an irrevocable contribution of cash, securities, or other property, which is placed in trust. The trust pays an income stream to one or more named beneficiaries (which can include you) for life and/or for a set term of years (not to exceed 20), and the museum receives the right to principal as a remainder interest.
The two most common types of charitable remainder trust are:
- Annuity trust, which pays a fixed dollar amount each year based on a percentage (at least 5%) of the initial fair market value of the trust assets; and
- Unitrust, which pays a variable income stream based on a percentage (at least 5%) of the fair market value of trust assets as revalued each year. A deferral feature is available for charitable remainder unitrusts.
Because charitable remainder trusts (like an IRA or 401(k)) are tax-exempt, this deferral feature can make them a useful retirement planning tool if you are in a position to defer your receipt of an income stream. Charitable remainder trusts are typically funded with assets worth $100,000 or more. Establishing such a trust generally entitles you to claim an immediate income-tax charitable deduction.
You should consult with your financial, tax, and legal advisers for more information on charitable remainder trusts as they pertain to your particular situation and needs.
📋 Charitable Lead Trust
A charitable lead trust is the reverse of a charitable remainder trust. Charitable lead trusts enable you to provide us with an income stream, immediately, for a set term of years or for a term measured by one or more lifetimes – after which the trust assets pass to you or your estate or to your heirs. Leaving the asset to heirs can significantly reduce the gift or estate tax that would otherwise apply.
If you think a charitable lead trust could be a useful way to structure a gift, review the alternatives for structuring the trust with your financial, tax, and legal advisors.
🏠 Gift of Real Estate or Property
You may donate real estate, artwork, or other property to the Mattatuck Museum as part of your estate plan or as a current gift. Gifts of appreciated property can provide significant tax advantages. Please contact us before making a gift of property so we can discuss the museum’s ability to accept and use the gift appropriately.
🔖 Life Insurance Beneficiary Designation
You can name the Mattatuck Museum as a full or partial beneficiary of a life insurance policy at no cost to you today. Simply contact your insurance provider to update your beneficiary designation form.
📦 Gift of Art or Collections
The Mattatuck Museum also welcomes gifts of artwork, historical objects, documents, photographs, and other items that align with the museum’s collecting mission. Please contact us to discuss a potential gift of objects so we can ensure it is a good fit for the collection.
Donors who notify the museum of a planned gift are recognized as cherished members of our legacy community and receive special acknowledgment of their commitment to the museum’s future.
The Mattatuck Museum is a 501(c)(3) nonprofit organization. EIN: [add if publicly shared]. This page is for informational purposes only and does not constitute legal or financial advice. Please consult your own advisors when making estate planning decisions.
Frequently Asked Questions
What is planned giving? Planned giving (also called legacy giving or estate giving) refers to charitable contributions that are arranged now but take effect at a future date — typically through a will, trust, beneficiary designation, or similar estate planning tool. It allows donors to make a significant gift to a nonprofit without affecting their current finances.
How do I leave a bequest to the Mattatuck Museum? You can leave a bequest by including the Mattatuck Museum in your will or living trust. Contact your attorney to add bequest language naming The Mattatuck Historical Society, Inc. at 144 West Main Street, Waterbury, CT 06702 as a beneficiary. Contact Maddie Stenson at maddie@mattmuseum.org to discuss your intentions.
Can I name the Mattatuck Museum as a beneficiary of my IRA? Yes. Naming the Mattatuck Museum as a beneficiary of your IRA, 401(k), or other retirement account is one of the most tax-efficient planned gifts available. Contact your account administrator for a beneficiary designation form — no attorney or legal document is required.
What is the legal name of the Mattatuck Museum for estate planning purposes? The legal name is The Mattatuck Historical Society, Inc., located at 144 West Main Street, Waterbury, Connecticut 06702.
Does a planned gift affect my finances today? Most planned gifts such as bequests and beneficiary designations cost you nothing during your lifetime and do not affect your current assets or income. Some gifts, such as charitable gift annuities or charitable remainder trusts, may provide income or tax benefits while you are alive.
Who do I contact to discuss a planned gift to the Mattatuck Museum? Contact Maddie Stenson, Development Officer, at maddie@mattmuseum.org or (203) 753-0381 ext. 120. All conversations are confidential.
Is my planned gift tax-deductible? Many planned gifts provide charitable income tax deductions, estate tax deductions, or capital gains tax advantages depending on the giving vehicle used. The Mattatuck Museum is a 501(c)(3) nonprofit organization. Please consult your own tax or legal advisor for guidance specific to your situation.
Can I donate artwork or historical objects to the Mattatuck Museum? Yes. The museum welcomes gifts of artwork, historical objects, documents, and photographs that align with its collecting mission. Please contact Maddie Stenson at maddie@mattmuseum.org before making a gift of objects to discuss whether it is an appropriate fit for the collection.