Gifts in Wills
The National Portrait Gallery holds its collection in trust for the Nation, for you. Your will is your opportunity to help look after the things that matter to you, loved ones and the places you hold dear. Portraits connect us with inspiring people and can feel like ‘old friends’. If the Gallery and its Collection is special to you, a gift in your will is a chance for you to pass those friends and connections to future generations.
“I’ve been a member for many years, and I’ve also left the Gallery a gift in my Will. I think it’s important the Gallery has funding for new work and exhibitions, but also to be there for future generations. I’m giving just a small percentage of my estate, so my loved ones will be looked after first. But the risk is if we don’t support the arts, we could lose them.” Charlotte Moss, Gallery Member
Every gift makes a vital difference. Whether large or small, a percentage of an estate or a fixed sum, your support is gratefully appreciated and will be treated with care.
Why the Gallery needs your support
The National Portrait Gallery’s mission is to champion portraiture and to invite everyone to encounter the people who have shaped society and culture, showing the potential in us all to make a difference. We achieve our mission through our Collection, exhibitions, research and learning programmes. As a charity, donations and legacies make up about a third of the Gallery’s income. We simply wouldn’t be able to achieve our mission without you, our supporters. Legacy gifts are vital because they support the Gallery where the need is greatest and provide financial resilience during difficult times. If the Gallery is a place that you value and enjoy, a legacy gift (a gift in your Will) is a chance for you to make sure that inspirational portraits and experiences can be passed on.
Making a Will
By writing a Will, you can be sure that your family, friends and loved ones are provided for, as well as places like the Gallery that are special to you.
Writing a Will doesn’t have to be expensive or time-consuming. You can find a qualified solicitor in your local area using the Law Society website, or, if you are over 55, you can make your will free of charge during Free Wills Month.
Different kinds of legacy gifts and wording
There are different ways you can leave a charity in your will. Below, you’ll see a definition of some of the different types. If you’d like help do contact us and we will be happy to help, and you can discuss these with your solicitor.
A Residuary Legacy Gift
A ‘residuary’ legacy is a donation of a share of the remainder of your estate after all other commitments, such as taxes and expenses, have been settled. If you want to make this kind of gift to the National Portrait Gallery in your Will, you can give the following suggested wording to your Solicitor when making or amending your Will:
“I give [add the amount you wish to give here e.g. ‘one half’] to the National Portrait Gallery, St Martin’s Place, London WC2H 0HE, an exempt charity (exemption number is X93187) under the 2011 Charities Act, for its general purposes. I direct the receipt of the Director or other duly authorised officer of the National Portrait Gallery shall be sufficient discharge to my executor/s.”
A Pecuniary Legacy Gift
A ‘pecuniary’ legacy is simply a donation of a fixed sum of money, nominated by you. If you want to make this kind of gift to the National Portrait Gallery in your Will, you can give the following suggested wording to your Solicitor when making or amending your Will:
“I give the sum of [add the amount in words and in figures £] to the National Portrait Gallery, St Martin’s Place, London WC2H 0HE, an exempt charity (exemption number is X93187) under the 2011 Charities Act, for its general purposes. I direct the receipt of the Director or other duly authorised officer of the National Portrait Gallery shall be sufficient discharge to my executor/s.”
A Reversionary Legacy Gift
A ‘reversionary’ legacy involves leaving assets to a nominated beneficiary (such as a partner), with a portion of your estate being donated after they have passed. This is a way of providing for your loved ones first.
The Gallery’s charitable status
To leave a gift to the National Portrait Gallery in your Will, the only information your solicitors need is the Gallery’s full name ‘National Portrait Gallery’ and registered address ‘St Martin’s Place, London WC2H 0HE’.
The National Portrait Gallery is a charity but does not have a charity registration number. This is because as a national collection, we are exempt from registration with the Charity Commission under Schedule 3 of the Charities Act 2011.
The National Portrait Gallery’s HMRC exemption number is: X93187.
US taxpayers may leave a legacy in US dollars through the American Friends of the National Portrait Gallery - a 501(c)(3) registered charity.
Leaving a gift in your Will could reduce your inheritance tax
Gifts to charities are exempt from inheritance tax. This means that leaving a gift to the National Portrait Gallery may help reduce your tax liability. If you leave 10% or more of the net value of your estate to charity in your Will, your estate will qualify for inheritance tax at the reduced rate of 36% rather than 40%. Everyone’s tax situation is different. Your solicitor will be able to tell you more about the ways charitable giving may reduce inheritance tax on your estate.
If you would like to speak to the Legacy team, please contact Susie Holden on the details below. All enquiries will be treated confidentially.
Senior Fundraising Manager