Planned Giving

The Delaware Art Museum connects people to art, offering an inclusive and essential community resource that through its collections, exhibitions, and programs generates creative energy that sustains, enriches, empowers, and inspires.

Making a legacy gift in your will, also referred to as a “bequest,” is a simple way to make a gift to DelArt that has lasting impact. Bequests in the form of cash, securities, real estate, or personal property are a significant source of support for the Museum.

Making a legacy gift is easy: you can designate a specific dollar amount, a particular asset, a fixed percentage of your entire estate, or leave your residuary estate after providing for your loved ones. And while unrestricted gifts allow the Museum to allocate funds to the areas of greatest need, your bequest can support a specific Museum program or collection. But no matter what you choose, your legacy gift will provide you with peace of mind today and secure our tomorrow.

In honor of Helen Farr Sloan, who donated the Museum’s preeminent collection of John Sloan’s art, the Helen Farr Sloan Legacy Society was established to acknowledge the generosity of those who have included DelArt in their estate plans. Benefits of membership in the Legacy Society include invitations to exclusive Legacy Society and special Museum events.

To learn more about crafting your own legacy at the Delaware Art Museum and joining the Helen Farr Sloan Legacy Society, please contact Joshua Liss, Advancement Officer, at jliss@delart.org or 302.351.8538. We look forward to working with you and your advisors.

Information for Your Advisors:
Legal Name: Delaware Art Museum
Legal Address: 2301 Kentmere Parkway, Wilmington, DE 19806
Federal Tax ID number: 51-0065746

Will/Living Trust Beneficiary

A will or living trust that includes the Delaware Art Museum as a charitable beneficiary is no different than any other will, except that it includes language to benefit DelArt. Your will provision (called a bequest) can take many forms, such as naming the Museum for a specific dollar amount, a set percentage of the total value of your estate, or the remainder of your estate after you have provided for your loved ones. We recommend you share the sample language below with the attorney who is drafting your will or living trust.

Specific Bequest
A specific bequest allows you to make a gift of a specific dollar amount or specified assets (securities, real estate, or personal property) for the benefit of the Museum.

I give, devise, and bequeath to the Delaware Art Museum in Wilmington, Delaware, the sum of $___________ [or specific asset(s)] to be used by the Museum for its general purposes [or for a specific purpose]. If this purpose is deemed no longer practicable or appropriate by the Museum, then the gift shall be used to further its general purposes.

Residuary Bequest
A residuary bequest benefits DelArt with all or a portion of your remaining assets after your estate expenses are paid and your specific gifts to loved ones have been fulfilled. Residuary bequests increase or decrease with the value of your estate over time so that you do not have to continually update your estate plan as your circumstances change.

I give, devise, and bequeath to the Delaware Art Museum in Wilmington, Delaware, the rest, residue, and remainder (or state all, a dollar amount, or a percentage) of my estate, both real and personal, to be used for its general purposes [or for a specific purpose]. If this purpose is deemed no longer practicable or appropriate by the Museum, then the gift shall be used to further its general purposes.

Contingent Bequest
A contingent bequest allows you to name DelArt to receive a gift from your estate should your other beneficiaries not survive you or cannot accept the transfer from your estate.

In the event that [Name(s)] predeceases me, I give, devise, and bequeath to the Delaware Art Museum in Wilmington, Delaware, her/his/their share to be used by the Museum for its general purposes [or for a specific purpose]. If this purpose is deemed no longer practicable or appropriate by the Museum, then the gift shall be used to further its general purposes.

Retirement Plan Gift

For many individuals, qualified retirement plans such as a 401(k), 403(b), IRA, Keogh or profit-sharing plan may represent a disproportionate percentage of their net worth. You can designate the Delaware Art Museum to receive all or a portion of the funds in your account at passing by contacting your plan administrator to request a beneficiary designation form.

Not only is this simpler than drafting an amendment (or codicil) to your will, but it also has tax advantages. Most distributions from retirement plans are subject to income taxes—and possibly estate taxes—if left to an individual; however, a charitable organization that is named as the beneficiary does not pay income or estate taxes on the distribution due to its tax-exempt status. Therefore, if you name DelArt as a beneficiary of your retirement plan, the full value of what will be distributed can be used to support the Museum.

Life Insurance Beneficiary

If the original purpose for a life insurance policy you took out no longer applies, you can name the Delaware Art Museum as primary beneficiary or contingent beneficiary should your other beneficiaries not survive you. To change the beneficiary of your policy, please contact your insurance company to request a beneficiary change form.