Museum will be closed for packing and moving for the season.
FINAL WALK AT NARRAMISSIC IS OCTOBER 17th!
Planned Giving
Including Bridgton Historical Society in your estate plan will help create a permanent legacy for our town. Your gift will play a vital role in preserving the history of our unique community, ensuring its heritage is safeguarded and remembered for generations to come. A bequest of any size to BHS in your estate planning or a gift of another type of planned giving enrolls you in the Brookside Society. Please notify BHS of any planned giving. This ensures that we can thank you and recognize you for your generosity and it also helps us in future planning.
Wills
A bequest through a will is the most common type of a planned gift. This may be structured in several different ways:
Outright Bequest: This is the simplest type of bequest. This is a gift in one’s will of a specific sum of money, an asset or group of assets (such as securities). The following language could be used for this type of gift: “I hereby bequeath to the Bridgton Historical Society, a nonprofit organization headquartered in Bridgton, Maine, the sum of _______________ (or the following asset(s) ___________) to be used where it determines the need is greatest. In addition, tangible personal property can be left via a memo referenced in one’s will.
Residuary Bequest: In some cases, the donor may not know the exact amount that will be available after certain bequests and expenses are paid. In these cases, a donor may leave BHS a residuary bequest of a certain percentage of, or the full remainder one’s estate after specific bequests, debts, taxes and estate expenses have been paid. The following language could be used for a residuary bequest: “I hereby bequeath ____ percent (or all) of my residuary estate to the Bridgton Historical Society, a non-profit organization headquartered in Bridgton, Maine, to be used where it determines the need is greatest.
Contingent Bequest: This type of bequest allows a donor to provide for a family member or friend first but would allow for a charitable donation if a named beneficiary predeceases him/her. An example of language for this type of gift: “I bequeath to my sister, Jane Doe, the sum of $______ if she survives me. In the event that she predeceases me, I direct this sum to be paid to the Bridgton Historical Society, a non-profit organization headquartered in Bridgton, Maine, to be used for its general purposes.
Restricted Bequest: Less commonly, a donor may decide to leave a bequest to be used for a specific purpose within the organization. We ask that you consult with BHS before drafting a bequest for a restricted purpose. In addition, we ask that you include the following language to account for all possible contingencies: “If at any time, at the discretion of the trustees of the Bridgton Historical Society, this bequest shall no longer be necessary for the stated purpose, the trustees shall have the authority to designate its use for another.”
Beneficiary Designation
A donor may name BHS as a beneficiary of a life insurance policy, a retirement plan or any bank or brokerage account. The donor would list Bridgton Historical Society as beneficiary and include our address, P.O. Box 44, Bridgton, Maine 04009 and Tax ID Number (23-7300040) in the beneficiary information given to their financial institution.
Gift of appreciated assets
A donor may donate appreciated assets such as stocks, bonds, or mutual funds to BHS. This may be preferable to some donors as they may avoid paying any capital gains tax on the assets. Please notify BHS of a gift of securities.
Qualified Charitable Distributions (aka IRA Charitable Rollovers)
A donor 70 ½ or older may donate up to a certain amount ($111,000 for a single taxpayer, $222,000 for a married couple filing jointly in 2026) directly to BHS from his/her IRA. This type of withdrawal can wholly or partially satisfy required minimal distributions from IRAs which are mandatory starting at age 73. This type of IRA withdrawal is not subject to federal tax, unlike a minimal distribution taken in cash. This type of distribution can preventa donor being pushed into a higher tax bracket with an RMD and subsequently owe more for Medicare premiums. This type of donation is done through the financial institution wherethe IRA is held. Bridgton Historical Society is a 501(c)(3) non-profit organization and is a qualified charitable organization. Please contact BHS if you are considering this option and supply the IRA custodian (financial institution that administers the account) with our full name, address (P.O. Box 44, Bridgton Maine, 04009) and tax ID# (23-7300040).
Donor Advised Funds
An individual donor, a family or business may elect to support one or several charities through a donor advised fund. The donors set up a donor advised fund through their financial institutions with an irrevocable donation of money, appreciated stocks and bonds or other assets. The donors then can advise the fund which qualified 501(c)(3) non-profits they would like to support with grants and how they would like to invest the funds in the account. Many donors find a tax advantage in funding a donor advised fund robustly every few years and, in those years, itemizing deductions. Each year out of the DAF, the donor can make a distribution to BHS, even though they have reaped the tax benefit in the previous year. Bridgton Historical Society is a qualified public charitable organization.
Charitable Remainder Trusts
This is a donation vehicle that would be set up by a donor and his/her estate planner. The donor sets up an irrevocable trust that can provide annuity payments to the donor or another beneficiary. After the term is up or the death or the beneficiary, the remainder goes to one or several charitable organizations. BHS qualifies as a charitable beneficiaryfor this arrangement.