Charting a Legacy: Support SBMM Through Your Donor Advised Fund
At the Santa Barbara Maritime Museum (SBMM), we believe in honoring the past while inspiring future generations to care for our oceans, history, and community. One meaningful way to support our mission—now and in the years to come—is through a Donor Advised Fund (DAF).
A DAF is like a charitable savings account. You contribute to your fund when it’s financially convenient for you and receive immediate tax benefits. Then, you can recommend grants to SBMM over time—monthly, annually, or whenever you’re inspired to make an impact.
You can also create a lasting legacy by naming SBMM as the beneficiary of your DAF. Many supporters choose to pass this giving tradition on by naming their children or grandchildren as successors, nurturing a family legacy of philanthropy.
How it works:
Let’s say you open a DAF with $25,000. You’ll receive a federal income tax deduction and time to thoughtfully decide where your support will go. After learning more about SBMM’s educational programs—like Maritime on the Move or Girls in Ocean Science conference—you recommend a grant. Your DAF sponsor sends a check to SBMM, and your generosity fuels free marine science field trips, exhibit development, and community outreach.
You can fund your DAF with:
- Cash
- Appreciated securities
- Real estate
- Tangible personal property
- Retirement plan assets
Next Steps:
- If you already have a DAF, visit sbmm.org and recommend a grant today.
- If you’re exploring your options, talk to your financial advisor or contact SBMM’s Development Director, Emily Duncan, at (805) 456-8744 or eduncan@sbmm.org.
- If you choose to leave SBMM in your legacy plans, please use our legal name: Santa Barbara Maritime Museum and Tax ID: 77-0392953.
Your DAF is more than a fund—it’s a voyage toward something meaningful. Support SBMM today and help us preserve Santa Barbara’s rich maritime heritage for generations to come.
A Real-Life Legacy: Meet Jay and Amanda
Jay and Amanda have been financial supporters of the Museum since its inception, and they have enjoyed becoming involved in the organization with Amanda on the board and Jay as a docent. They have watched as the Museum’s exhibits, educational programs, and public events have expanded over the years and especially the outreach to the children in the area who are able to enjoy hands-on, interactive experiences that broaden their understanding of the world, and their local community. Jay stated “As a docent I have seen first hand the impact the Museum has on youth as they discover a new environment and relate the exhibits to the histories and stories they discussed in their classrooms”.
Amanda and Jay funded a Donor Advised Fund several years ago with appreciated securities and were able to experience a significant tax savings in the year of the gift, and have been using the DAF to make cash gifts to the Museum in the years since. As a retired financial planning advisor, Amanda shared that “DAFs are one of the top tools available to streamline charitable giving and provide flexibility in funding and grantmaking. I recommended DAFs to most of my clients who were amazed how easy the process was and in many cases a DAF cash grant can be sent electronically to the Museum which avoids sending a check in the mail”.
Besides annual gifting, Amanda and Jay have named the Museum in their estate plan by naming it as a beneficiary on their IRAs. Beneficiaries of inherited IRAs (and other retirement accounts) typically owe income taxes on funds that are withdrawn, however charities do not pay income taxes, making it the perfect fit for a planned gift to the Museum. In addition, they have named the Museum as a beneficiary/successor on their DAF so that any remaining assets in the account are paid out directly to the Museum at their deaths.
While charity is defined as an immediate way to give to organizations in need, philanthropy involves giving on a much larger scale and on a long-term basis. Amanda and Jay want to see the Museum succeed and grow in the years to come, and their philanthropic planned gifts will help fulfill that vision.