|
Planning for Tomorrow
To stand the test of time, every non-profit charitable organization must
meet a vital need and have an ongoing commitment of support from the community
that supports its mission. Historically, inflation and program growth
gradually increase the budget of most organizations and we anticipate this
will be true for the South Boston- Halifax County Museum of Fine Arts and
History. That is why we must plan today to ensure a perpetual future for
our museum and its important mission.
While our museum is in the early stages of growth, it is time to begin
putting into place a foundation that will be our legacy to meet the needs
of future generations. It is time to begin an Endowment Fund- a permanent
fund with the principal invested to produce income to support the operating
needs of the museum.
Planning Your Will
We encourage our supporters to consider including the South Boston-Halifax
County Museum of Fine Arts and History as a beneficiary in their wills. It
is a special way to allow your interest to live on and to help the museum
build a meaningful endowment fund. Many people choose making a bequest to
an endowment fund as a way of making sure their annual giving to the museum
continues following their deaths. Sometimes, it is possible to make a
charitable gift in your will that you could not make during your lifetime.
A bequest can be designated for a specific use or project. It is also a
very special way to provide a perpetual memorial for a family member.
Preparing Your Will
There are several ways to include the museum in your will. You can make a
specified bequest that designates a specific amount of money, securities or
other assets (personal or real estate). You can make a residuary bequest by
designating that the remainder of your estate goes to the museum after all
other bequests have been distributed. You can designate that a percentage
of your total estate or a percentage of the residue of your estate goes to
the museum. You can also make a contingent bequest that takes effect only
in the event that some other designated bequest in your will does not
happen (e.g., a beneficiary in your will dies before you do). However you
decide to include the museum in your estate plan, specific reference should
be made to the museum's full name - South Boston-Halifax County Museum
of Fine Arts and History.
Unfortunately, many people do not have a will. Statistics show that seven
out of ten Americans do not have a valid will. This means the life savings
and assets accumulated by seventy percent of the people in our country will
be distributed in accordance with state laws not necessarily in keeping
with their wishes. The museum does not provide any legal advice; however,
it strongly encourages every individual to have a valid and up-to-date
will.
Why Support the Museum
Your museum is a valuable asset in our community. Its mission is an important
legacy for future generations. Most of us like to think that we have made a
contribution to our world that leaves it a better place because we cared
enough to share our time, talents, and resources with others. The museum
offers a way for you to provide just such a legacy for our children,
grandchildren, and all future generations. The museum, operated by a
volunteer Board of Directors elected by its members, has demonstrated a
philosophy of good stewardship and conservative fiscal policy. Its goal is
to make sure that every dollar generates the maximum community services.
The museum is committed to a free admission policy so that everyone
can visit as often as he or she wishes. As a non-profit organization, the
museum is totally dependent upon voluntary contributions for operating and
development funding.
The museum serves as the depository for some of the community's most
valuable and important historical artifacts and documents. It must have a
secure financial foundation and strong leadership that will stand the test
of time. The archives of our museum will be a valuable resource for future
research and understanding of the past culture and history of our area. We
are truly obligated to future generations. We cannot fail to keep the trust
that was passed on to us by our ancestors.
Mission
The museum is operated for the collection, exhibition and preservation of
antiques, works of art, books, and physical items that are historically
significant to the past, present, and future heritage of Halifax County and
Southside Virginia. It further performs and encourages research and
publishes, exhibits and preserves the results of such research.
This information should not be considered legal advice. We recommend that
all gift considerations be made with the advice and consultation of legal
and professional advisors.
|