New England Motor Sports Museum
Email Updates

Planned Giving


You can be an integral part of continuing the critical mission of the New England Racing Museum to: Discover preserve, and educate the public on the history of New England motorized racing. We share your passion and want to ensure your passion continues through Planned Giving. We will be happy to work with you to determine which options of Planned giving will help you get the peace of mind that your loved ones are taken care of and that your personal values / wishes are met.


Gift Planning Options

Bequests (gift by will or living trust)

You can provide for your family first ensuring your assets being distributed accurately and that your philanthropic wishes are met.

How do I do this?

Including a bequest provision in your will or revocable trust to Racing History Preservation Group (RHPG) by having a specific amount, percentage or remaining balance directed to RHPG.

Benefits:

  1. Your assets remain in your control during your lifetime
  2. You can modify your bequest based upon circumstances
  3. Gifts to charitable organizations do not have an upper limit
  4. Be sure to check with a Charitable Estate Planning Representative

Suggested wording for your attorney

After fulfilling all other provisions, I _______ give and bequeath ____ % of the remainder to Racing History Preservation Group (tax exempt #) a New Hampshire Organization with offices located at .


Insurance Policies

Your life insurance policy can be used to support the museum.

How do I do this?

Name ‘Racing History Preservation Group (RHPG)’ as a beneficiary or transfer ownership of a paid-up policy. If Policy is paid up RHPG elects to cash in policy now or receive the life benefits later.

Benefits:

  1. Immediate tax deduction for cash value of policy
  2. You can modify your bequest based upon circumstances
  3. Does not affect your current cash flow
  4. Be sure to contact your plan administrator

Retirement Plans (IRA, 401Ks, 403Bs)

As a result of high tax rates, you may find that it may make financial sense to allocate the residual amount of these funds to the Racing History Preservation Group (RHPG). RHPG would not incur any tax on these gifts that heirs would incur.

How do I do this?

By using the beneficiary designation forms provided by your financial institution designate RHPG as sole or partial beneficiary. You may continue to make withdrawals during your lifetime and residual amount in your account after passing will go to RHPG tax free

Benefits:

  1. You can continue to make withdrawals during your lifetime
  2. You can designate all or a percentage of your account
  3. You can change beneficiaries at any time
  4. Contact your plan administrator

Other Ways to Support Your Racing Museum

We’ve saved space for you in the new England racing museum. your participation in this valuable project is encouraged. As of today, with no governmental funding, the museum is entirely dependent on the racing community to meet construction and operating expenses.


Pledges & Contributions

The museum will gratefully accept donations in any amount. the museum’s operator, the racing history preservation group, has been granted 501 (c) 3 status which results in tax advantages for contributions. Funds that are donations are available for immediate use by the museum Please contact the museum for more details.


Endowment

Donation to our endowment fund is structured for principal to remain intact with investment earnings that are an available source of income for use. Please contact the museum for more details.

Benefits:

  1. Perpetuates the donors wishes and values
  2. Allows for future and incremental funding
  3. May offer significant tax advantages
  4. Be sure to contact your tax advisor

Race Car & Artifact Donation Program

The museum encourages owners of vintage race cars to consider donating their vehicles to the museum for limited display. after an agreed-upon display period, the museum would, under this program, be allowed to sell the vehicle with proceeds to benefit ongoing museum operations. the supporting vehicle donation program has a special application for the wills of owners who wish to provide continuing support of the museum after their passing.

However, this program is open to all who wish to make such donations. Similar to the supporting vehicle donation program, but open to certain racing artifacts such as driver uniforms, publications of which the museum already owns one copy, helmets and trophies.


We are flexible!

We are also available to discuss other giving opportunities that work best for you.

Be sure to discuss these options and others that may be more appropriate for your situation with your financial adviser, tax advisor and or attorney when making changes to your plan.

You can choose to keep your gift anonymous or to be recognized by the RHPG.

Please let us know if you have chosen to include RHPG in your plans.