Did you know that most of Polk Museum of Art’s financial support comes from individual and corporate donations? That’s right! Because Polk Museum of Art is a private, 501(c)(3) organization, we depend on YOU to keep our doors open, our great exhibitions on the walls and our outreach programs in our many communities throughout our region. When you donate to Polk Museum of Art or become a member, you become part of one of the preeminent institutions in the Central Florida arts scene. You ensure that everyone in the area has a great place to visit for cultural stimulation, and you preserve an organization that makes this community great. Plus, your donations are tax deductible.
There are many ways to give to Polk Museum of Art. As a way to thank you for your generosity, there are many benefits and privileges available to you. We thank our members and donors for their loyalty and enthusiasm, and look forward to working with new friends as we build for the future.
Become a Member
Join the museum TODAY! Enjoy free admission, invitations to opening receptions, generous discounts in the Museum Store, and enroll in classes at a discount! Upper level members receive more benefits.
Become a Sponsor
One of the biggest ways you can support Polk Museum of Art is through Sponsorship of an event, exhibition, or education program. Benefits of sponsorship vary depending on the program and the amount you choose to give, but a list of benefits common to all sponsors can be seen below. For information about specific sponsorship opportunities, contact Claire Orologas at 863.688.7743 x223, COrologas@PolkMuseumofArt.org or Pal Rivers Powell at 863.688.7743 x240, PPowell@PolkMuseumofArt.org.
Polk Museum of Art is a private, 501(c)(3) organization. Contributions are tax deductible.
As we confront the challenges of the future, we know that the generosity of those who assist us will make all the difference to our success. That’s why we seek your support.
Understanding the importance of endowment growth and the role of planned giving, the Board of Trustees established The Cornerstone Society to recognize and honor those who have made planned gifts to the Museum or have included the Museum in their estate plans. Members of The Cornerstone Society are leading by example. By recognizing publicly their generosity we encourage others to complete similar plans and arrangements on behalf of the Museum.
By including Polk Museum of Art in your estate planning, you will help secure for future generations the life-affirming experiences that are available through participation in the Museum’s programs collections. The long-term stability of the Museum is being secured through a strong endowment program. Planned giving is the key to increasing endowment funds, which in turn provide the Museum's long-term financial stability.
Estate-planning information provided to the Museum will be kept confidential and enrollment in The Cornerstone Society can be anonymous. Members of the Museum’s Planned Giving Steering Committee and Planned Giving Council are available to assist with estate planning and when appropriate can serve as a donor’s professional advisers in planning.
If you would like to learn more about the planned gift opportunities at Polk Museum of Art please call Claire Orologas at 863.688.7743 x223, COrologas@PolkMuseumofArt.org.
Ways of Giving
Polk Museum of Art welcomes and encourages numerous forms of planned giving. As a donor, you will consider all your options to determine the vehicle for giving which is most advantageous to you. Your gift may incorporate any one of the following options:
Gifts that Pay Income
Charitable Gift Annuities
The donor makes an irrevocable gift to the Museum in exchange for a fixed income for life. The payout rate is determined by the age(s) of the individual(s) receiving the income. The donor receives an immediate income tax deduction (in some cases, a portion of the annuity income is tax-free) and the assets are removed from the donor’s estate.
Charitable Remainder Unitrust
The donor transfers cash, securities or other assets to a trustee in exchange for the trustee’s agreement to pay an income to the donor that is equal to no less than five percent of the net fair-market value of the trust assets as determined annually. The trust terminates at the death of the last of the beneficiaries, or has a term of not more than 20 years, and the corpus and accrued income are distributed to the Museum when the trust is terminated. An immediate income tax charitable deduction is allowed for the remainder value.
Charitable Remainder Annuity Trust
The donor transfers cash, securities or other assets to a trustee in exchange for the trustee’s agreement to pay a fixed sum of money to named beneficiaries, said amount to be no less than five percent of the initial fair-market value of the trust asset. Once established, the annual amount never changes. Payments are made to the donor/beneficiary or to anyone designated for life or a period of time not to exceed 20 years. At the death of the last beneficiary or the expiration of the term of years, the trust will terminate and the assets will be distributed to the Museum. An immediate income tax charitable deduction is allowed for the remainder value.
Charitable Lead Trust
The donor transfers money or property to a trustee who makes payments to the Museum for a specified number of years, after which the principal is returned to a designated non-charitable beneficiary, usually a family member. The income to the charitable beneficiary can be variable (unitrust) or fixed (annuity trust). The lead trust may provide the donor with a current income tax deduction and can assist in avoiding or reducing generation skipping estate tax.
The most common revocable (changeable) estate gifts are:
- Bequests or gifts left by will
- Distributions from a living trust
- Joint titling of assets
Cash is the most direct way to make a gift for achieving the goals proposed for the Museum. Funds received for endowment will be invested according to policies approved by the Board of Trustees. Gifts of cash or securities are tax deductible to the extent allowed by law.
There are many types of life insurance gifts. The most common is to assign to the Museum an existing policy that is currently in force and paid up. The donor names that Museum as owner and beneficiary. The benefits to the donor are in both gift and estate-tax considerations. In a gift of a policy that is not paid up, later premium payments made by the donor are also deductible for tax purposes. Federal tax regulations indicate that the gift value of an insurance policy is the cash value of the policy at the time of transfer of ownership.
If you are interested in making any of these contributions to Polk Museum of Art, please call Pal Powell at 863.688.7743 x240 or PPowell@PolkMuseumofArt.org or Claire Orologas at 863.688.7743 x223, COrologas@PolkMuseumofArt.org.