ArtMuse

In the spirit of Legacy montana month, the Missoula Art Museum wishes to share the story of its first legacy gift three years ago when Joyce Folsom bequeathed a collection of paintings she developed over the last 20 years of her life. Of the 60 works she left to the community, three canvases were by Tu Baixiong.

The last available works by Baixiong are on view this month at the Dana Gallery; the Art Museum is grateful that a member of the Joyce Folsom Society (a group of individuals supporting the Art Museum through their art collections) purchased several paintings, ensuring that more of Baixiong's work is saved for the Missoula community. If you are interested in becoming a member of the Joyce Folsom Society with a gift of any size, please contact Registrar Jennifer Reifsneider.
 

What is Legacy montana?
Legacy montana is an educational campaign in which the Art Museum, along with more than two-dozen other local agencies, is participating in order to raise public awareness about the importance and ease of leaving a gift to a non-profit organization.

In the coming years, middle-aged American children will inherit over $10 trillion from their elderly parents. Along with this tremendous transfer of wealth, a very small percentage of money will be given to charitable organizations such as the Art Museum. To help interested people leave some part of their estate to charity, a local effort, called Legacy montana, was organized three years ago to encourage bequests or planned gifts from people from all walks of life. This effort is patterned after successful campaigns in other communities over the last several years.

Gifts may come in the form of money, property, insurance, an investment or a percentage of an estate. While some gifts may be large, many are $100 or less. Sometimes there are tax advantages when leaving assets to a charity.

Leaving something to the Art Museum or another organization does not mean your children, spouse, or friends are left out. Wills and trusts are flexible and can be written to make sure all your desires are met. However, if you don’t have a will or trust, the state most assuredly will not distribute any of your assets to a charity.

Legacy Montana Campaign Ecourages Planned Giving

Last February the Salvation Army received a generous donation through the estate of a Missoula resident. It was like a dream-come-true, according to Henry Graciani.

“The person who bequeathed the money to the Salvation Army wanted specifically to help families in need in the Missoula area,” Graciani, a Salvation Army Captain, said. The unexpected donation “filled in the gaps” in funding for Silvercrest, a housing project that will provide for low-income senior citizens for generations.

This May, a diverse group of more than 30 Missoula non-profit organizations worked together on a coordinated Legacy montana campaign. The campaign encourages support for charitable organizations by asking individuals to remember the organizations in their wills.

Their message is simple. You can’t take it with you, and you don’t need to be wealthy to leave a legacy. The process is simple, too. One way is to donate a portion of a life insurance benefit by adding a charitable group as a beneficiary. Another way is to make a non-profit organization a beneficiary of a stock account. It’s recommended you contact a financial advisor or member of the Missoula Estate Planners to get the job done.

The campaign featured testimonials from three local residents, Geoff Sutton, Judy Preston and Ty Robinson, who have chosen to give donations to Missoula non-profit organizations through their estates. Only about five percent of Americans make such a provision for a charitable gift.

The three Missoula residents have given gifts to the Missoula Art Museum, Missoula Community Medical Center Foundation and the YWCA. They did what the anonymous donor did for the Salvation Army.

When a significant donation comes in “out of the blue,” as in the case of the recent gift to the Salvation Army, it can “make an organization’s dreams come true,” according to Graciani. “It becomes a gift for perpetuity,” he added.

For more information about gifts for perpetuity and the Legacy montana campaign, contact Jean Bowman at 543-5387.