Helping to celebrate architecture through your will

Transcription

1 Leaving your legacy

2 Helping to celebrate architecture through your will The Royal Institute of British Architects was founded in 1834 for the advancement of architecture and the knowledge of the arts and sciences connected therewith. Nearly two centuries on, it fulfils its mission in an entirely contemporary way, continuing to set the standard for architectural practice across the world. At its best, the RIBA is the fulcrum around which we as practitioners can pivot. We are also the fortunate custodians of the world s richest architectural collection from Palladio s drawings to unique materials on the creation of 21st-century cities around the globe. The gift of a legacy, regardless of size, can be of enormous value to our work. And in addition to its financial impact, it is the most eloquent expression of a real confidence in the power of the built environment and a testament of faith in the future. Stephen R Hodder MBE RIBA President Though members make a significant contribution to the running of the Institute through their subscriptions, this income alone could never be expected to fund the care and on-going development of the British Architectural Library, to meet the ever growing demand for grants for those embarking on a career in architecture, or to cover the vital research and development which is at the intellectual heart of the RIBA. As a registered charity, the RIBA relies heavily on sponsorship, donations and legacies to supplement its income and to ensure the proper development and stewardship of its resources, ensuring their availability for subsequent generations. Some magnificent legacies have been received during our history, which have significantly shaped our collections and development; but these have been rare rather than regular occurrences. I would like now to encourage all of us to consider remembering the Institute in our Wills. Photograph by Morley von Sternberg. 1

3 Why we need legacies A legacy to the RIBA, no matter what the size, can make a real difference across all the most important areas of our work: Collections and preservation As custodians of the world s greatest architectural collection, we are extremely mindful of the need to preserve and safeguard our four million books, periodicals, drawings, models and photographs, for present and future generations. The gift of a legacy can help to conserve, display and further enrich the British Architectural Library collections for many years to come. Encouragement and education The RIBA s education programmes engage with students, professionals and non-professional audiences through an extensive range of workshops and talks. In addition, our dedicated Education Fund helps to alleviate student hardship through the provision of grants, scholarships and bursaries for architecture students in the UK. With applications for assistance ever increasing, contributions to the Fund can make an immediate and significant difference to the lives of architecture students. 1 Celebration exhibitions, research, innovation From exhibitions and talks to conferences and awards, the RIBA advances architectural and design excellence through the widest engagement at all levels. Only with the generous support of donations and legacy gifts can we continue in our pre-eminent role as innovators and champions of better buildings, communities and the environment through architecture The British Architectural Library s Main Reading Room. Photograph by Philip Vile. 2. The Pompidou Centre, Paris (1977), designed by Piano and Rogers. Photograph by Martin Charles, who died in 2012 bequeathing his entire archive of approximately 20,000 photographs to the RIBA s Robert Elwall Photographs Collection. 3. A family workshop Fantastical Cities at 66 Portland Place, April Photograph by Wilson Yau. 2 3

4 How to leave a legacy to the RIBA A legacy is one of the simplest and most flexible ways of giving and can also provide valuable tax benefits for donors. There are three main types of legacy: Pecuniary legacy This is a fixed sum of money. The limitation of this type of gift is that its value decreases with subsequent rises in inflation. Residuary legacy This can be a legacy of the remainder, or a proportion of the remainder, of your estate after other legacies, Inheritance Tax, debts and expenses have been paid. Specific legacy This can be a legacy of specific personal assets, such as property, stocks and shares, or art, antiques and books. If you are considering leaving a collection of material that may be added to the British Architectural Library, we would welcome the opportunity to discuss your plans before you commit them to your will Visitors exploring the Charles Correa exhibition at 66 Portland Place. Photograph by Philip Vile. 5. Conjectural reconstruction of the Baths of Agrippa, Rome (c. 1550) by Andrea Palladio ( ), RIBA Library Drawings Collection. 6. Design for decorations for the Coronation of Queen Elizabeth II for an unidentified town square (1952) by Sir Hugh Maxwell Casson ( ), RIBA Library Drawings Collection. 4 5

5 Your tax Charitable legacies are generally exempt from Inheritance Tax. By leaving a gift to the RIBA in your will, you may also be able to reduce the level of tax for which friends and family are liable. From April 2012, the government introduced a change to Inheritance Tax rules meaning in some situations, a person leaving 10% or more of their taxable estate to charity qualifies for a reduced rate of Inheritance Tax (36% rather than the standard rate of 40%). The result of this change can mean that a larger gift to charity can be made with only a small effect to the amount received by friends and family. Please do not hesitate to contact us in confidence to discuss any query you may have regarding leaving a legacy to the RIBA. You can also find further information on our website supporttheriba Elena Smith Development Department Royal Institute of British Architects 66 Portland Place London, W1B 1AD elena.smith@riba.org Housing at New Ash Green, Kent (c. 1970), designed by Eric Lyons & Partners. Photograph by Tony Ray-Jones ( ), RIBA Library Photographs Collection. A donation received from the Eric Lyons Memorial Fund supported the RIBA s work to digitise holdings connected with the work and legacy of Eric Lyons. 8. Architecture students at London Metropolitan University. 9. The Laban Centre, by Herzog & de Meuron, winner of the 2003 RIBA Stirling Prize. Photograph by Will Pryce

6 Notice of your intention Completion of this form has no binding legal consequences. However, it will enable us to thank you appropriately and also to keep you informed of any relevant developments at the RIBA. Full name I am making a PECUNIARY/RESIDUARY/ SPECIFIC legacy to the RIBA in my will (please delete as applicable). If you felt able to indicate the nature and approximate value of your bequest, this would be extremely helpful. Address I would like my legacy to be applied as directed (please tick): Thank you Every gift is valuable to the RIBA and gratefully received. If you have decided to remember the RIBA in your will, please let us know by filling in the Notice of Intention form opposite. This will enable us to express our thanks to you and keep you informed and involved with the RIBA. Registered Charity Number Postcode Telephone number Date Registered Charity Number General Purposes unrestricted, deployed where trustees feel need is greatest* British Architectural Library Preservation & Conservation British Architectural Library Acquisitions & Collections Development Education Fund Relieving student hardship and supporting architectural education. We would be happy to discuss your preference. *Allowing the trustees to use their discretion to direct a legacy where the need is greatest is of particular value and can often mean that the RIBA can make investments or take advantage of opportunities that it otherwise would be unable to consider. I wish my legacy to remain anonymous. Please send this completed form to: Elena Smith Development Department Royal Institute of British Architects 66 Portland Place London, W1B 1AD elena.smith@riba.org

7 The RIBA champions better buildings, communities and the environment through architecture and our members. Royal Institute of British Architects 66 Portland Place London W1B 1AD T F architecture.com Front cover: the RIBA, Portland Place