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Oleta Lambert

Oleta Lambert works hard to make Sacramento a better place to live, work and visit. Organizations around the city have benefitted from Oleta's leadership, energy, hard work and generosity. At the Crocker, Oleta is a tireless advocate for the expansion and is an ambassador for the Crocker's mission everywhere she goes.

As a member of the Crocker Art Museum Foundation Board, Co-Chair of the Board Giving Campaign, member of the Major Gift Committee and an active participant and key promoter of the Director's Circle, Oleta looks forward to the day that she and art lovers in the region can experience the wonderful programs, exhibitions and events in the new Crocker. "This is the most exciting cultural undertaking in Sacramento history, and I am very proud to be a part of it," she explains. "I have always regarded the Museum as this region's treasure. Its rich history has always intrigued me."

Oleta's interest in the Crocker goes much deeper than just how the new Crocker will affect her life. She is fully aware that the support of generous donors ensures the Museum is an invaluable resource and educational experience for the 60,000 school-aged children who visit the Museum annually. "I have always felt that doing something meaningful and lasting is one of life's greatest rewards. What could be more meaningful and lasting than the work we are doing to build the new Crocker, that promises to revitalize the region's appreciation for the arts and bring joy to so many people of all ages?"

Oleta's generous gift to the campaign is only part of what she does for the Museum. She also gives the gifts of her time, energy and enthusiasm-the impact of which is immeasurable.

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Information contained herein was accurate at the time of posting. The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in any examples are for illustrative purposes only. References to tax rates include federal taxes only and are subject to change. State law may further impact your individual results. California residents: Annuities are subject to regulation by the State of California. Payments under such agreements, however, are not protected or otherwise guaranteed by any government agency or the California Life and Health Insurance Guarantee Association. Oklahoma residents: A charitable gift annuity is not regulated by the Oklahoma Insurance Department and is not protected by a guaranty association affiliated with the Oklahoma Insurance Department. South Dakota residents: Charitable gift annuities are not regulated by and are not under the jurisdiction of the South Dakota Division of Insurance.

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A charitable bequest is one or two sentences in your will or living trust that leave to the Crocker Art Museum a specific item, an amount of money, a gift contingent upon certain events or a percentage of your estate.

an individual or organization designated to receive benefits or funds under a will or other contract, such as an insurance policy, trust or retirement plan

 Bequest Language

The official bequest language for the Crocker Art Museum is "I,(name), of (city, state, ZIP), give, devise and bequeath to the Crocker Art Museum Association (written amount or percentage of the estate or description of property) for its unrestricted use and purpose."

Tax ID: 94-2552486

able to be changed or cancelled

A revocable living trust is set up during your lifetime and can be revoked at any time before death. They allow assets held in the trust to pass directly to beneficiaries without probate court proceedings and can also reduce federal estate taxes.

cannot be changed or cancelled

tax on gifts generally paid by the person making the gift rather than the recipient

the original value of an asset, such as stock, before its appreciation or depreciation

the growth in value of an asset like stock or real estate since the original purchase

the price a willing buyer and willing seller can agree on

The person receiving the gift annuity payments.

the part of an estate left after debts, taxes and specific bequests have been paid

a written and properly witnessed legal change to a will

the person named in a will to manage the estate, collect the property, pay any debt, and distribute property according to the will

A donor advised fund is an account that you set up but which is managed by a nonprofit organization. You contribute to the account, which grows tax-free. You can recommend how much (and how often) you want to distribute money from that fund to the Crocker Art Museum or other charities. You cannot direct the gifts.

An endowed gift can create a new endowment or add to an existing endowment. The principal of the endowment is invested and a portion of the principal’s earnings are used each year to support our mission.

Tax on the growth in value of an asset—such as real estate or stock—since its original purchase.

Securities, real estate or any other property having a fair market value greater than its original purchase price.

Real estate can be a personal residence, vacation home, timeshare property, farm, commercial property or undeveloped land.

A charitable remainder trust provides you or other named individuals income each year for life or a period not exceeding 20 years from assets you give to the trust you create.

You give assets to a trust that pays our organization set payments for a number of years, which you choose. The longer the length of time, the better the potential tax savings to you. When the term is up, the remaining trust assets go to you, your family or other beneficiaries you select. This is an excellent way to transfer property to family members at a minimal cost.

You fund this type of trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. You can also make additional gifts; each one also qualifies for a tax deduction. The trust pays you, each year, a variable amount based on a fixed percentage of the fair market value of the trust assets. When the trust terminates, the remaining principal goes to the Crocker Art Museum as a lump sum.

You fund this trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. Each year the trust pays you or another named individual the same dollar amount you choose at the start. When the trust terminates, the remaining principal goes to the Crocker Art Museum as a lump sum.

A beneficiary designation clearly identifies how specific assets will be distributed after your death.

A charitable gift annuity involves a simple contract between you and the Crocker Art Museum where you agree to make a gift to the Crocker Art Museum and we, in return, agree to pay you (and someone else, if you choose) a fixed amount each year for the rest of your life.
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