Gifts in Memoraim
Or in honour of…
To honour the memory of a loved one or to celebrate a special event, the Foundation accepts gifts of money in honour of a person.
Upon receipt of your contribution, the honoree, or the family in the case of an estate, will be informed of the names of donors (unless they requested anonymity), but the amounts remain confidential at all times. These donations will support the Museum’s overall mission, which includes the development of educational programmes and the conservation and presentation of the Museum’s collection, a cornerstone of our collective heritage.
For further information:
Émilie L. Cayer
Assistant Director – Individual and Foundation Giving
Offering a planned gift to the Montreal Museum of Fine Arts is making a commitment to our artistic heritage by facilitating the conservation and the sharing of art for the largest audience possible, for generations to come.
As you can see, there are a number of ways you can support the MMFA, one of the rare major museums in Canada that must generate a large proportion of its operating budget on its own.
Acknowledgements and Tax Advantages
The MMFA Foundation wishes to highlight, in a meaningful way, the contribution of its donors who make planned gifts to the Foundation. Several privileges will be offered to you, in accordance with your needs and interests.
The gift may be designated for a specific purpose. If not, the Foundation Trustees will determine how the gift should be used in the best interests of the Museum. For example, a gift made to the Museum Foundation can be designated for the acquisition of artworks, educational programmes, for a named endowment fund for specific purposes or for the creation of a specialized chair in a museological field. Your name will be mentioned in the publications produced in connection with the programme.
Both the Canadian and Quebec governments offer considerable tax incentives and advantages in connection with planned gifts made to registered charitable foundations. Each of the options outlined below offers worthwhile tax advantages. We strongly advise you to consult your own financial and tax advisors. In collaboration with your professional advisors, we can help you choose the kind of donation that best meets your financial and philanthropic needs.
The Gift by Will
By making a testamentary bequest to the Montreal Museum of Fine Arts, you are giving future generations the opportunity to enjoy this cultural heritage.
The gift by will, or bequest, is an integral part of planning a donor’s testamentary dispositions. This planning consists in drawing up a detailed description of the donor’s estate and arranging for it to be passed on efficiently, in both legal and fiscal terms, to the legatees and beneficiaries of the estate.
After you have ensured the financial security of your family by drawing up or revising your will, you may decide to give generously, in keeping with your means, to support the development of the MMFA and help it thrive, by means of a gift by will to the Museum Foundation.
This gift may include:
- A gift of listed securities
A gift of listed securities includes stocks, bonds, shares of mutual funds or other securities traded on the stock exchange. If this donation option interests you, please contact us for information regarding the procedure to follow.
- A gift-in-kind
A gift-in-kind is a donation of property, movable or immovable, such as works of art or a primary residence. This type of donation can be immediate or deferred.
- A gift of works of art
- A gift of life insurance
The donor may give the MMFA Foundation the death benefit of a life insurance policy. There are three different ways of making this type of gift:
- The purchase and irrevocable transfer of a new life insurance policy
- The irrevocable assignment of an existing policy
- The designation, in the donor’s policy or will, of the Museum Foundation as beneficiary of the policy
- A gift of the totality or the remainder of an annuity or a pension plan
The annuity is the result of an agreement by virtue of which the donor makes an irrevocable contribution of capital, part of which is used to purchase from an insurance company or trust company a life annuity or fixed-duration annuity issued to the donor, and the other part of which constitutes a gift to the Museum Foundation. This annuity guarantees the donor payments (income) for life or for a specified period, while giving the Museum Foundation a substantial gift equivalent to the difference between the initial contribution and the cost of purchasing the annuity.
- The donation of a portion, of the entire or of the residue of the estate
- A charitable trust
A charitable trust is the result of an agreement with the Museum Foundation whereby a donor creates a charitable remainder trust in favour of the Foundation. For this type of donation, the capital is held in trust irrevocably and will not be touched for the duration of the trust. During the term of the trust, the donor (or other designated person) receives the income on investment. After the expiry of the fixed period of the trust or the death of the beneficiary, the capital of the trust passes to the MMFA Foundation. This gift option is appropriate for a donor who wishes to make an irrevocable gift of a large amount, usually in the order of $200,000 or more.