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Did you know there are creative ways to support The New York Academy of Medicine? Ways in which NYAM, you and your loved ones all benefit at the same time? Such giving techniques are called “planned gifts,” because with thoughtful planning you create mutually beneficial solutions for you and NYAM.

Planned giving opens a whole world of possibilities for you to make a big difference to our mission while also securing your legacy — all for generations to come. Whether remembering NYAM in your will or giving appreciated stock, you can ensure NYAM continues to build a healthier and more equitable world for all.

GIFTS ANYONE CAN AFFORD
You can support NYAM with gifts that don’t impact the way you live, by designating NYAM to receive estate assets in the future or by making immediate gifts to us of assets that are “out of sight, out of mind.”

Gift Through Your Will or Estate Bequest

A bequest — a gift made through your will or living trust — can be the easiest gift to make to NYAM because it costs you nothing during your lifetime. Plus, it’s “revocable,” so you can update or change it if circumstances change. If you already have a will or living trust, you can amend it to include a bequest to NYAM with a simple codicil. Download sample bequest and codicil language.

Buy Low, Give High: Appreciated Securities

You can transfer publicly traded securities that you have owned for more than one year to NYAM. We sell the securities and apply the proceeds to the charitable purpose(s) that you designate. You claim an income tax charitable deduction based on the fair market value of the securities and avoid capital gains tax on the securities’ appreciation.

Large Gift, Little Cost: Life Insurance

You can designate NYAM as a beneficiary of your life insurance policy. When the time comes, NYAM receives the proceeds. Thus, you can provide a large gift to benefit NYAM for relatively little cost. The policy proceeds distributed to NYAM will be exempt from estate tax.

Avoid Heavily-Taxed Assets to Heirs: Retirement Plans

You can name NYAM as the beneficiary of a portion or all of your IRA, 401(k), or other retirement account. When the time comes, the amount designated passes to NYAM estate- and income-tax-free.

A “Tax-Free” Gift: Charitable IRA Rollover

The IRA charitable rollover allows taxpayers age 70½ or older to make tax-free charitable gifts of up to $100,000 per year directly from their Individual Retirement Accounts to NYAM. The funds should be directly transferred to NYAM and not withdrawn first.

RESOURCES
Sample Gift Language for Your Will or Trust
Download a Sample Codicil Form