A Gift of Significance
For Mary and Bill McClung, the idea of a charitable gift annuity was easy. Mary is a retired school teacher, Womens Council member, and active docent at the museum; she obviously has a passion for art. For Bill, the idea of a gift of significance to an institution they so greatly admire with a very nice rate of return, a charitable deduction, and the avoidance of capital gains tax was too good to pass up.
In 1999 and 2008 the McClungs gifted appreciated securities to the museum, avoiding capital gains, in exchange for a steady, attractive rate of return for the rest or their lives, and they received a significant charitable tax deduction in the year the gift was made. This was all executed with the help of the planned giving staff at the Cleveland Museum of Art with a simple charitable gift annuity contract. According to Bill McClung, “The gift annuity has turned out to be a win for us, a win for the museum, and a win for the community.” By making this commitment we honor them annually at the Legacy Society luncheon and list them as distinguished Legacy Society members in all publications.
Bill McClung, pictured here, is also telling his charitable gift annuity story to northeast Ohioans on radio station WCLV 104.9 FM, so tune in to hear him tell his story in his own words. We are grateful to Bill and Mary and to the many museum friends who chose to make such a lasting commitment to the museum. For more information, please contact Diane Strachan, CFRE, Director of Development, at email@example.com or at 216-707-2585.
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