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MAM Exterior from the corner of Bloomfield Ave and N. Mountain Ave

 

Qualified Charitable Distributions (QCDs)


IRA Giving

Supporters 70.5 or older with a traditional IRA are eligible to make a donation to the Montclair Art Museum directly from their IRA. These gifts are tax-free, regardless of whether or not you itemize deductions on your tax return, and can help you avoid tax penalties by fulfilling your Required Minimum Distribution (RMD).

For up-to-date information and guidance on IRA giving, please explore the below resources from the Internal Revenue Service (IRS):

 

Stocks

Many donors prefer to make gifts of appreciated stocks, bonds, mutual funds, or exchange traded funds because it can have a large impact on the Montclair Art Museum’s mission while also maximizing potential tax benefits for the donor by avoiding capital gains tax.

To make a stock gift to the Montclair Art Museum, you will need to provide your brokerage or mutual fund company with the following information:

  • Your name and account number
  • The name and number of shares you want to transfer
  • The name and address of the recipient (Montclair Art Museum, 3 South Mountain Ave., Montclair, NJ  07042)
  • The brokerage firm – the museum’s holdings are with Neuberger Berman, LLC, 605 3rd Avenue, New York, NY 10158
  • Our contact person is Noelle D’Aversa (646-497-4930 / [email protected])
  • Our DTC number is 0226 (National Financial Services)
  • Our account number is NBJ037670
  • Our tax-exempt ID number is E-221-487-582


Please Note:  A “gifting letter” should be sent to the Museum office for all gifts of stock. This letter establishes the charitable nature of the transfer for the donor’s tax records and provides the Museum with a record for the gift’s purchase, as well as alerting us of the stock transfer. The “gifting letter” should be sent to [email protected], and need only state:


 I/we hereby give (number) shares of (name) stock to Montclair Art Museum for (purpose/fund).

For more information, please contact [email protected] or 973-259-5117.