From the Office of Gift Planning Legacy Circle Welcomes New ...

Perspective
^ • Semi-Annual Newsletter of Gift Planning • winter 2009
From the Office of Gift Planning
Dear Friends,
Welcome to the inaugural issue of Perspective.
The goal of this newsletter is to bring you the
latest news from the Office of Gift Planning at
LACMA and provide you with an up-to-date
resource for planned giving information.
Since its inception, the Office of Gift
Planning has come to encompass an array
of charitable giving techniques and
opportunities. Our purpose has always been
to provide you with information on how
you might incorporate these techniques
into a sound and beneficial financial strategy
and at the same time support LACMA in
a very important way.
Whether through a bequest to LACMA, a gift
of securities, a charitable gift annuity,
or a gift of art to the permanent collection—
to name but a few—all of these gift planning
options share a common thread: individuals
who are willing to take that extra step to
create a legacy of support for LACMA which
will help fortify its continued status as one of
the preeminent art institutions in the world.
Each issue of Perspective will pay tribute to
the individuals who embrace this unique
brand of philanthropy by profiling members
of LACMA’s Legacy Circle as well as highlighting
recent gifts of art to the museum.
We will also bring you news on the latest
legislation and trends in the field of planned
giving and art donations, as well as updates
on LACMA’s continuing Transformation and
how gift planning can be employed to
support this critical campaign.
It is our hope that Perspective will evolve so
that it best reflects your needs and interests,
and we welcome your suggestions on how
we might improve with each issue. We also
encourage you to pass this newsletter along
to friends and colleagues once you are
finished. In the meantime, many thanks for
your continued patronage. LACMA’s mission
to serve the public through the collection,
conservation, exhibition, and interpretation
of significant works of art would not be
possible without the commitment and
dedication of supporters like you.
Yours sincerely,
Diana Veach
ASSOCIATE VICE PRESIDENT OF DEVELOPMENT
OPERATIONS AND GIFT PLANNING
Legacy Circle
Welcomes
New Members
The Legacy Circle at LACMA grew
terrifically this past year, welcoming
thirty-two new members. These new
additions engaged a variety of
planned giving vehicles to support
their philanthropic goals here at
LACMA as well as strengthen their
own long-term financial strategies.
For our debut issue, we believe that
two new members’ stories were
indicative of the wonderful character
and spirit which all our Legacy Circle
members share.
Washington-born Jan Dudley is no
stranger to public service. After
raising a family in the Pacific
Northwest, Jan, a graduate of the
University of Washington, went
back to school to get her Master’s
degree in Public Health. Shortly
thereafter, Jan relocated to Southern
California where she put her new
degree to work administering
epidemiologic studies in a variety of
fields including multiple sclerosis,
effects of smog, and HIV/AIDS for the
UCLA School of Public Health.
Jan recalls her first visit to LACMA
during these early days in L.A. “There
was an exhibit with Ed Kienholz’s
Back Seat Dodge, and then I spied
Magritte’s Ceci n’est pas une pipe
and oh, I was hooked!”
Continued on page 2

Legacy Circle continued from page 1
Over the years Jan slowly, and frugally, began
supporting those cultural activities that gave
her pleasure: LACMA, MOCA, NPR, the L.A.
Phil. “My gratitude for the cultural nurturing
L.A. has given me is boundless. I wanted to
show that gratitude but still had discomfort
about large donations.”
When Jan received a
postcard describing
LACMA’s Charitable Gift
Annuity program, she
knew she had her
answer. “I could
establish an annuity with
LACMA that produced income for me with
tax benefits and still express my love of this
great institution. It fit my need to protect my
assets while giving at a comfortable level.”
Jan encourages others of all means to
investigate ways of contributing to the legacy
of future Angelenos and visitors whose lives
will be enriched by having access to such a
magnificent museum.
Like Jan, new Legacy
Circle member Eve
Kilger has always been
committed to serving
her community,
especially in the area of
the arts. Born in New
York City, Eve and her family relocated to
the Long Beach area when Eve was thirteen
years old. After graduating from Cal State
Long Beach with a Bachelors in marketing,
Eve embarked upon a twenty-eight-year
career working for IBM. During this time she
also worked in wholesale travel and hotels.
Later, Eve bought into a Seal Beach travel
agency as a silent partner. This allowed her
to see the world and feed her growing interest
in the arts.
“My gratitude for the cultural nurturing L.A.
has given me is boundless. I wanted to show
that gratitude but still had discomfort about
large donations.”—Jan Dudley
Coincidentally, Eve recalls an early visit to
LACMA similar to Jan’s to see Kienholz’s
infamous Back Seat Dodge ’38, and has
enjoyed periodic visits to the Miracle Mile for
LACMA exhibitions ever since. In addition,
Eve has engaged an active leadership role in
the Long Beach arts community, having just
finished a nine-year tenure on the Long
Beach Museum of Art’s Board of Directors
and recently joined its Honorary Board.
When Eve decided a few years back to
formally incorporate charitable giving into
her long-term financial strategy, she opted
for a charitable remainder trust. Eve wanted
to share her good fortune with a variety of
charities including LACMA, and chose the
California Community Foundation to assist
her in establishing the trust. “A charitable
remainder trust worked best for me… for
anyone having stock, real estate, etc. that
has grown considerably, this is the perfect
vehicle to avoid huge capital gains. I also
get a nice quarterly income payment, and
the remainder will benefit non-profits like
LACMA when I go on.”
Jump-Start your LACMA Legacy (and Get Great Tax Savings Too)
If you are 70 or older, recent Federal legislation benefits you! The IRA Charitable Rollover included in the Pension Protection Act of
2006 has been extended to include tax year 2009 in the newly signed-into-law Emergency Economic Stabilization Act of 2008. As such,
you can continue to make an outright gift to LACMA via a direct transfer from your IRA without paying taxes on your distribution.
Contact the Office of Gift Planning at 323 932-5816 for more information, or visit lacma.org/give and click on “IRA Charitable Rollover.”
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Legacy Circle Members Enjoy
a Summer Evening at LACMA
On August 6, LACMA opened its doors and
galleries to members of the Legacy Circle
and President’s Circle for an exclusive
special event, Summer Evening at LACMA.
Over 1,200 special guests of the museum
attended what has become a favorite event
among LACMA VIPs and their families.
Attendees enjoyed live music, a barbeque
picnic, art-making and storytelling for the
children, and special viewings of the
Broad Contemporary Art Museum and
LACMA’s newly reinstalled pre-Columbian
collection with a gallery installation
designed by Jorge Pardo.
Summer Evening at LACMA is just one of
the exciting benefits the museum extends
with great appreciation to members of the
Legacy Circle at LACMA. Be sure to check
future issues of Perspective for upcoming
Legacy Circle events or visit our website
at lacma.org/give.
Left: Legacy Circle member Aleta Knight with
guest Brian Ouzounian. Right: Legacy Circle
member Dr. Evalyn Michaelson
For more information on the Legacy Circle,
please fill out the enclosed reply card, or
contact the Office of Gift Planning at
LACMA at 323 932-5816.
Gifts of Art:
A First Comes
to LACMA
LACMA is thrilled to have recently added
to the permanent collection a wonderful
late-nineteenth century Orientalist
painting, The Rug Merchant (Le
Marchand de Tapis) by Rodolphe Ernst,
thanks to the extreme generosity of
Gordon and Lizzy Anderson. Although
the Andersons have visited LACMA many
times over the years, this was their first
foray into the field of art donations.
Recalls Mr. Anderson, “We had quite a
bit to learn on the subject, but from that
initial call to LACMA’s Office of Gift
Planning, through meeting with LACMA’s
curators to show them the painting, right
up to meeting with our own financial
advisor armed with the knowledge and
all the appropriate documentation
which LACMA had provided, it was a very
enjoyable, informative, and beneficial
experience. We are very pleased to
support LACMA in this way, and that the
public will be able to enjoy this painting
as much as we have.”
This is the first work by Rodolphe Ernst
acquired by LACMA. “This painting will
augment LACMA’s small group of
Orientalist works significantly,” says
LACMA European Painting Curator,
Claudia Einecke. Ernst belonged to a
group of academic Orientalists who
traveled extensively in search of motifs
and ethnic types to depict in their
paintings, but who invariably composed
their works in the studio using props,
costumed models, and photographs.
In Le Marchand de Tapis, Ernst fills
the picture space with objects and
colorful textiles (not rugs as the title
suggests) of the type favored by tourists
of the era who visited northern Africa
and the Middle East. No doubt, Ernst
acquired many of these on his own
travels, and they serve to lend credibility
to his picturesque evocation of an
exotic world.
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Support Support LACMA With LACMA With
A Life-Income A Life-Income Arrangement Arrangement
Diana Veach Diana Veach
Life Income Arrangements Life Income such as as Arrangements Charitable Gift such Annuities as Charitable and Charitable Gift Annuities Remainder and Charitable Remainder
ASSOCIATE VICE PRESIDENT OF ASSOCIATE OF DEVELOPMENT VICE PRESIDENT
OPERATIONS AND AND GIFT PLANNING OPERATIONS AND GIFT PLANN
Trusts are are excellent ways Trusts to to support are excellent LACMAways in in a a to significant support LACMA way and in at at a the significant the same time way and at the same
323
time
323 857-6207 323 857-6207
provide you with a a variety provide of of tax tax you and with financial a variety benefits. of tax and financial benefits.
dveach@lacma.org dveach@lacma.org
Patrick Morrow Patrick Morrow
A A Charitable Gift Annuity A Charitable with LACMA Gift guarantees Annuity with that LACMA you and/or guarantees other beneficiaries
that you and/or other beneficiaries
GIFT PLANNING OFFICER GIFT PLANNING OFFICER
will receive a a fixed income will receive payment a for fixed for life life income exchange payment for for for an an life irrevocable in exchange gift gift of for of cash an or irrevocable or gift of 323 323 cash 932-5816 or
323 932-5816
pmorrow@lacma.org pmorrow@lacma.org
marketable securities to to marketable LACMA (minimum securities $5,000 to LACMA for for (minimum one life, $10,000 $5,000 for for two one lives). life, $10,000 for two lives).
Payout rates for for gift gift annuities Payout are are rates generally for gift annuities higher then are other generally income-producing higher then other vehicles, income-producing vehicles,
such as as CDs, and are are fixed such the as the CDs, moment and are you fixed make the the moment gift, so so volatility you make in in the the gift, financial so volatility in the financial
^ ^
markets have no no effect. markets You also have enjoy no an an effect. immediate You also and enjoy sizable an immediate income tax tax and charitable sizable income tax charitable
Los Angeles county Museum Los Angeles of of Artcounty Mu
deduction the the year you deduction establish the the annuity, year you and establish a a good the portion annuity, of of every and a annuity good portion payment of every annuity payment
Office of of Gift Planning Office of Gift Planning
5905 Wilshire Boulevard 5905 Wilshire Boulevar
you receive is is considered you tax-free receive income is considered for for the the tax-free anticipated income life life of for of the the anticipated annuity. life of the annuity.
Los Angeles California Los 90036 Angeles California
lacma.org/give lacma.org/give
Selected Gift Selected Annuity Rates Gift Annuity Rates
ONE LIFE
ONE LIFE
TWO LIVES
TWO LIVES
Age Payout Rate Age of of Return Payout Rate Ages of Return Payout Rate Ages of of Return Payout Rate of Return
65 65 5.3% 65 5.3% 60/65 60/65 4.8%
4.8%
70 70 5.7% 70 5.7% 70/75 70/75 5.3%
5.3%
75 75 6.3% 75 6.3% 75/80 75/80 5.8%
5.8%
80 80 7.1% 80 7.1% 80/85 80/85 6.5%
6.5%
85 85 8.1% 85 8.1% 85/90 85/90 7.5%
7.5%
90+ 9.5% 90+ 90/95+ 9.5% 90/95+ 9.0%
9.0%
For For more information on on For planned more information giving on
or or donating art art to to LACMA, or donating please art to LACM
contact the the Office of of Gift contact Planning: the Office of G
The The financial and and tax tax aspects The of of any financial any gift gift to
and to tax aspec
LACMAare are determined by by each LACMA donor’s are determined by ea
personal circumstances. We We personal recommend circumstances. We
consulting appropriate professional consulting advisors appropriate profe
before entering into into any any gift gift before arrangement. entering into any gift
LACMA Federal Tax Tax ID ID No: No: 95-2264067
LACMA Federal Tax ID No: 95
Page 1: 1: Chris Burden, Urban Light, Page 2008, 1: Chris made Burden, possible Urban Ligh
by by the the Gordon Family Foundation’s by the gift gift Gordon to
to Family Foundatio
Transformation: The The LACMA Campaign, Transformation: © © Chris Burden The LACMA Camp
Page 2: 2: Edward Keinholz, Back Seat Seat Page Dodge 2: Edward ‘38,
‘38, Keinholz, Back S
1964, purchased with with funds provided 1964, by purchased by the
the with funds prov
Art Art Museum Council Fund, © © Edward Art Museum Kienholz Council EstateFund, © Ed
Page 3: 3: Rodolphe Ernst, The The Rug Rug Page Merchant 3: Rodolphe Ernst, The Ru
(Le (Le Marchand de de Tapis), after 1885, (Le gift Marchand gift of of Mr. Mr. and
de and Tapis), after 18
Mrs. Mrs. Gordon Anderson Mrs. Gordon Anderson
All All photos © © 2009 2009 Museum Associates/LACMA
All photos © 2009 Museum Asso
For those interested in in For securing those interested fixed income securing down the the fixed road, income LACMA down offers the Deferred road, LACMA offers Deferred
Payment Gift Annuities. Payment With these, Gift Annuities. payments are are With delayed these, until payments a a specific are delayed date determined until a specific date determined
by by you—your anticipated by you—your year of of retirement, anticipated for for year instance—thereby of retirement, for increasing instance—thereby the the initial increasing the initial
income tax tax charitable income deduction tax and charitable annuity deduction rate of of return. and annuity rate of return.
A A Charitable Remainder A Charitable Trust also Remainder provides you Trust and/or also other provides beneficiaries you and/or with other income beneficiaries with income
for for life life or or a a fixed period for of of life time, or a and fixed thereafter period of distributes time, and the thereafter remaining distributes assets to to the LACMA. remaining assets to LACMA.
An An immediate income tax An tax immediate deduction, income equal to to tax the the deduction, present value equal of of to what the LACMA present can value be
beof what LACMA can be
expected to to receive when expected the the trust to receive terminates, when is is the available trust terminates, once the the trust is available is is established. once the trust is established.
A A Charitable Remainder A Charitable Trust gives Remainder you the the flexibility Trust gives of of design—you the flexibility select the of the design—you beneficiaries,
the the trustee, and ciaries, the the distribution the trustee, rate. and Trusts the distribution can provide rate. a a fixed Trusts payout can provide (annuitya fixed payout (annuity
trust) or or a a variable payment trust) or that a variable changes payment with the the that value changes of of the the trust with assets the value (unitrust). of the trust assets (unitrust).
Charitable Gift Annuities Charitable and Charitable Gift Annuities Remainder and Charitable Trusts are are Remainder excellent mechanisms Trusts are excellent mechanisms
select the benefi-
for for providing both for for for your providing own future both and for the the your future own of of future LACMA—the and perfect future of legacy LACMA—the to
to perfect legacy to
satisfy your philanthropic satisfy goals your and philanthropic long-term financial goals and plans. long-term financial plans.
For more information on For on life life more income information arrangements, on life income please fill fill arrangements, out the the enclosed please reply fill out the enclosed reply
card, or or contact the the Office card, of of or Gift contact Planning the Office at at LACMA of Gift at at 323 Planning 932-5816. at LACMA at 323 932-5816.
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