Ways to Donate
We want to make Charitable Giving rewarding for you and the Museum both! As such we intend to involve and recognize our benefactors extensively (at least if you want that!).
Direct “cash” contributions – by cash, or check, or electronic transfer. A simple and welcome approach. The PTM is a qualified 501c3 – so contributions are “tax deductible”. However, many people may find that they no longer “itemize” with the 2018 increases in standard deductions.
Qualified Charitable Distributions (QCDs). If you are 70 ½ years old and subject to required mandatory distributions from an IRA, you may find it attractive to do a Qualified Charitable Distribution directly from your IRA. For most people this can help you meet your RMD while reducing the tax liability you would have incurred from this “income”. Contact us if interested in this approach – as it must be a direct distribution from your institution to ours.
Estate Planning. Please consider whether the PTM might be a part of your estate plan. For some families this may offer an opportunity to honor an individual’s lifetime of industry or community contributions. Again, feel free to contact us.
Naming Opportunities. Our region has many people whose name may carry a legacy of contributions they have made to the automotive industry. Indeed these legacies might merit sponsoring something ranging from benches, to a new exhibit, to naming a prominent part of the building.
Gifts of Property or Archives. The PTM clearly has an interest in cars/trucks or archives/artifacts of historical significance. This may be of tax benefit to you as well, but the museum is not able to help you with establishing value of your properties. But please contact us if you have property of historical significance.
Donation of Appreciated Securities Donating long-term appreciated securities, including stock, bonds, and mutual funds, directly to charity can be an attractive strategy. Compared with donating cash, or selling appreciated securities and contributing the after-tax proceeds, you may be able to increase both your gift and your tax deduction.
The Pontiac Transportation Museum provides the observations above on charitable giving alternatives for awareness and consideration of potential benefactors. Our museum obviously has no knowledge of the particular financial situation of a donor – so we strongly encourage you to consult with your own tax advisor on applicability of these strategies to your own situation.Last – most charitable giving is “unrestricted” – allowing our 501c3 to use the funds as best fits the organization’s mission But the PTM is willing to respond to any specific guidance a benefactor expresses on how their gift is spent or used. Please feel free to discuss this with us.