Your Legacy in the Eternal City: Planned Giving at the American Academy in Rome

The McKim & Morgan Society is named for Charles Follen McKim and J. Pierpont Morgan, founders of the American Academy in Rome. Their visionary leadership created the Academy, located it on the highest hill within the ancient walls in Rome, and began the endowment that established the Academy and helped to assure its permanence.

The McKim & Morgan Society comprises individuals who have made a commitment to the future of the American Academy in Rome by including the Academy in their estate plans and have provided gift documentation to the Academy. Members include those who have written a charitable gift to the Academy by bequest, or named the Academy as beneficiary of a retirement plan or life insurance policy.

This group enjoys access to special members-only events and other benefits such as recognition in exhibition catalogues and, of course, a warm welcome over espresso at the Academy Bar, when you visit us in Rome.

For estate planning and membership in the McKim & Morgan Society, please contact Rachael Edmonston, Manager of Development, at r.edmonston [at] aarome.org (r[dot]edmonston[at]aarome[dot]org).

The goal of planned giving is to help you plan your estate and charitable giving in a way that benefits you, your family, and the American Academy in Rome. There are many ways you can make a planned gift to the Academy and enjoy tax and income benefits.

Bequests

The most common and flexible type of planned gifts, a bequest through your will or trust can be made in any amount. A bequest may allow you to make a significant gift to the Academy without affecting your finances during your lifetime. You may designate AAR as the recipient of a specific amount or a percentage of your estate. View sample bequest language.

Gifts of Retirement Assets

By making a gift of your retirement assets (such as a gift from your IRA, 401k, 403b, pension, or other tax-deferred plans), you will help to advance AAR’s work. Making the Academy a beneficiary of your retirement account is an easy, flexible, and tax-wise way to make a planned gift, and does not require changing your will or trust. If you are age 70½ or older, you may also qualify for an opportunity to transfer assets annually from your IRA to a charity, tax-free.

Gifts of Insurance

If your life insurance policy is no longer needed or will no longer benefit your survivors, consider making a current or future gift to help further our mission. Or, consider naming the Academy as a beneficiary of your life insurance; this is a simple way to leverage your policy into a meaningful gift.

Gifts of Stock and Bonds

By making a gift of your appreciated securities, you can avoid paying capital gains tax while making a positive impact.

Gifts of Real Estate

If you own appreciated real property (such as your home, vacation property, investment property, or vacant land), you can make a gift while producing tax benefits. We can work with you on a gift of real estate in your lifetime or as a bequest.

We encourage you to consult with your attorney, financial advisor, or other trusted professionals as you make decisions regarding planned gifts.