Planned Giving Opportunities
with The Early Ford V-8 Foundation

What is Planned Giving?

Planned giving is a simple concept. It means that someone is giving a gift to an organization whose goals and objectives they support, and is doing this in a manner that maximizes tax and other financial benefits. A planned gift is typically a gift of an asset, rather than a gift of income. Without the benefits of planned giving it is possible that all your hard work in restoring your 1932-1953 Ford car(s) could become meaningless. Remember, it’s never what you say that’s important, what matters most is what you have written down. Thus, if you fail to have develop a good written plan this is what could happen:
a) Your collector early Ford cars, trucks, and memorabilia could go to the wrong people,
b) Your estate could pay more than necessary in administrative costs, and
c) You may miss out on some major estate-tax savings opportunities available to you.

The Early Ford V-8 Foundation and its new Museum are funded through the generosity of private contributors, especially members of the Early Ford V-8 Foundation and the Early Ford V-8 Club of America, which is a separate entity. It is also these same people who are called upon through their memberships, annual gifts, one-time gifts, major gifts, an endowment gift, a planned gift, or through a corporate sponsorship, that will enable the Early Ford V-8 Museum to be built in Auburn, Indiana. These private funds are essential to the Early Ford V-8 Foundation Museum’s mission of acquiring and preserving 1932-1953 artifacts, memorabilia, automobiles and trucks of the Ford Motor Company.

The Early Ford V-8 Foundation was initiated in 1991. Its trustees have been working ever since to build a permanent home for displaying vehicles and artifacts that represent the influence of the Early Ford V-8 on American automotive history. When the Early Ford V-8 Foundation trustees submitted the Foundation’s articles of incorporation to the IRS, the IRS saw merit in granting the Early Ford V-8 Foundation tax-exempt status. Thus, under IRS Code 170, Section 501c3, the Early Ford V-8 Foundation is a qualified "business league existing to provide education and research in the interest of a public need". Having this federally qualified non-profit status provides two benefits: a) Donors that contribute to the Early Ford V-8 Foundation and/or its Museum may deduct their contributions from their taxes, and b) the Early Ford V-8 Foundation can use a system of accounting that allows it to maintain positive fund balances from year to year and use them for designated purposes, and by doing so, pays no federal tax.
To maintain its 501c3 tax-exempt status the Early Ford V-8 Foundation has oversight over all its activities by a Board of Trustees. These trustees must act with "due diligence" and "fiduciary responsibility" for any decisions, policies and activities, and render assure to its supporters and members that the Early Ford V-8 Foundation activities are aligned with its mission of preserving Early Ford V-8 history. There are over 15,000 tax-exempt organizations in the USA that represent the power behind one of this country’s most defining characteristics, the value which accrues to our social fabric through the power of volunteerism. In no other country in the world does volunteerism affect society as much as it does in America, and because Americans treasure volunteers who support worthy causes, like the Early Ford V-8 Foundation, there is a ‘reward" system provided by the federal government. The government is well aware of the cost of providing social programs and thus recognizes that when citizens commit to a public interest and if they align so that each can do a little to accomplish a lot, then they should be rewarded.

Building a Legacy as well as an Early Ford V-8 Museum

Bequests, legacies, devises, transfers, or gifts to a 501c3 entity, such as the Early Ford V-8 Foundation and/or Museum are tax deductible as determined by the Federal Estate and Gift Tax Act, if they meet acceptable provisions. USA tax law encourages people to use their assets in ways that benefit society, thus some give of their time and talents and some give their treasures in the form of gifts. Such gifts are called charitable gifts and include such things as:
a) Gifts of cash, stocks (whether publicly traded or privately held) and bonds, savings certificates, commercial annuity contracts, and funds held in an IRA. Gifts of securities are quite popular because they offer the donor an immediate income tax deduction for the full value of the security. Also the donor avoids any subsequent tax on any gain. By naming the Early Ford V-8 Foundation as a primary or secondary beneficiary on an IRA, you would get a charitable donation write-off and avoid paying taxes on the IRA or on withdrawals made from the IRA by the Early Ford V-8 Foundation
b) Tangible property. such as Early Ford V-8 cars and trucks as well as memorabilia. These are accepted by the Early Ford V-8 Foundation and are seen as wonderful ways to show your appreciation for what it has meant to you to be involved in Early Ford V-8 restoration, driving and socializing
c) Deferred giving through Insurance policies or annuities (simply name the Early Ford V-8 Foundation as a beneficiary). Bequests, Charitable Remainder Trusts, etc. provide future funds for the Early Ford V-8 Foundation but permit a committed donor to make a gift today and watch it grow in value over making a cash gift today. NOTE: These are things you may want to talk over with your estate-planning lawyer. Bequests in a will are popular ways to give to the Early Ford V-8 Foundation as you can retain full ownership, control, and use of your asset (like an old Ford car) for as long as you live as most bequests are written into a person’s will and may be written for restricted (directed) uses or unrestricted (general) uses. A Charitable Gift Annuity would pay you, your spouse, and your family a guaranteed amount for life. A portion of these payments may be tax-free and you are entitled to tax-deduct a portion of the assets that you contribute. A Charitable Remainder Trust is a little different in that it pays income to you and/or beneficiaries for a term of years. The amount of income can vary depending on the type of trust. It is common that such trusts increase in value, but neither you nor the trust pay capital gains tax at the time of funding
d) Gifts designated in memory of someone or to honor someone
e) Workplace Giving: many employers are willing to match your gift to a non-profit organization as part of their charitable donation programs. Check with your employer first
f) Appreciated real estate, if owned more than one year could be of sizable help to the Early Ford V-8 Foundation in generating endowments and working capital.

What are the Benefits of Planned Giving to the Early Ford V-8 Museum?

Planned Gifts in support of the Early Ford V-8 Foundation offer considerable benefits beyond the recognition they provide to you, a loved one, or a corporation.
They offer:
a) A current income tax deduction
b) Increased cash flow from an asset, sometimes at a more favorable tax rate
c) Preservation of an asset, as well as its value, coupled with the elimination, reduction, or deferral of capital gains
d) Professional management of an asset
e) Gift and Estate Tax savings

Giving to the Early Ford V-8 Museum

The Early Ford V-8 Foundation welcomes and appreciates donations, gifts, memberships, and support of all kinds and at all levels. As a 501c3 organization, the Early Ford V-8 Foundation depends upon the generosity of its friends and members. All gifts to the Early Ford V-8 Foundation go to support its work of preserving the heritage of the 1932-1953 Ford Motor Company. The Early Ford V-8 Foundation does recognize all its donors if they have indicated in writing that they are making a gift of any of the kinds listed above.

Please contact a knowledgeable estate planning professional to ask what type of charitable bequest or gift will be of the most benefit to you.

Corporate Sponsorships

Corporate Sponsorships are needed for many of the programs being developed for the Early Ford V-8 Museum. These include educational programs and exhibits. Sponsorships are available at many levels and they offer recognition for the corporate sponsor who appreciates the phenomenal exposure that sponsorship brings through access to thousands of Early Ford V-8 enthusiasts as well as the public that will be coming into the Early Ford V-8 Museum. Corporate sponsors know full well that over 50% of all collector cars in the USA are a Ford made product and what potential marketing advantages they can glean by being associated with the Early Ford V-8 museum.

If your corporation would like a little or a lot of visibility before the thousands of people who will visit the Early Ford V-8 Museum or participate in one of its activities, please call on us to tell you more about these exciting opportunities.