How to Give

There are many ways you can provide support to you favored charity other than simply writing a check or giving property.

The tax code has been written to encourage charitable giving and there have been many strategies created toward that end.  All the approaches noted here are common and widely used.  A qualified estate planning attorney can walk you through the processes and ensure that your intent is acted upon regardless of what happens in the future.

  • Benefits
    • Receive an estate tax charitable deduction.
    • Reduce the tax exposure for your heirs.
    • Leave a lasting legacy to the VMC Foundation
  • How it works
    • Have your attorney add wording to your will or revocable trust including the VMC Foundation as a beneficiary.
      • A percentage of your assets.
      • A specific amount.
      • A residual amount (what is left over after other bequests).
  • Benefits
    • There are no taxes on transfers of up to $100,000 from your IRA.
    • Meet your required minimum distribution requirement.
    • Reduce your taxable income.
    • Make a donation that is not restricted to the deduction limits on charitable gifts.
    • The VMC Foundation receives the immediate benefit of your generosity.
  • How it works
    • Contact your IRA plan administrator to have them make a gift from your IRA. Payments to you or designated beneficiaries can be based on a life, lives, a term of up to 20 years or a life plus a term of up to 20 years. IRA rollover gifts do not qualify for current charitable tax deductions.
  • Benefits
    • Receive income for a specified number of years, or life. Payments to you or designated beneficiaries can be based on a life, lives, a term of up to 20 years or a life plus a term of up to 20 years or a life plus a term of up to 20 years.
    • Avoid capital gains tax on appreciated assets.
    • Receive an immediate tax deduction for the charitable portion of your gift.
    • The VMC Foundation receives the benefits of your donation at your passing.
  • How it works
    • Have your attorney establish a charitable remainder unitrust.
    • Transfer assets to the new trust.
    • The assets generate income which is paid to you or designated beneficiaries .for the agreed upon period.
  • Benefits
    • Receive a gift or estate tax deduction.
    • Pass the assets on to your family at a reduced or zero cost.
    • Provide annual gifts to the VMC Foundation.
  • How it works
    • You donate property to a trust which pays the VMC Foundation for a number of years.
    • After a period of time (typically your passing) the remaining assets, including growth are passed to your family.
  • Benefits
    • Receive a federal tax deduction for the remainder interest in your home.
    • You retain control of your home and the ability to live in it.
    • This can be structured to allow additional people to live in the home after your passing (spouse, children, etc.).
    • At the passing of the last person to live in the home, the VMC Foundation receives a significant gift.
  • How it works
    • You deed your home to the VMC Foundation.
    • The deed contains a provision allowing your and/or others to live in the home for the rest of your life or lives.
    • At the passing of the last person specified to live in the home, the VMC Foundation may sell it to further fund its activities.