There are many different ways you can contribute to Virginia Western Community College. The Virginia Western Educational Foundation makes it easy for you to support academic excellence, which in turn changes lives and builds our community. Below are ways you can make an impact.
Cash is always an easy option. When you give a cash gift to the Virginia Western Educational Foundation, your out-of-pocket cost may be less than the amount of the gift because of the income tax deduction you are allowed. Keep in mind, actual savings from the tax deduction will vary due to your tax rate and other factors. Generally, the higher your tax rate, the greater your savings.
You may find it more advantageous to give your gift in stock – especially appreciated securities – instead of cash, because you can save on income and capital gains taxes. Current tax laws make it possible for you to donate a charitable gift of stock at a remarkably low after-tax cost. You pay no capital gains tax upon the transfer of stock to the Virginia Western Educational Foundation. You also receive an income tax charitable deduction for the full fair market value of the stock on the date of the gift (assuming you have held the stock for longer than twelve months). For regularly traded stocks, the charitable deduction is determined by using the average of the high and low price on the date of the gift.
Your gifts of real estate, equipment, artwork, books, and other non-cash items are considered gifts of personal property. Your deduction will depend on the appraised value and how Virginia Western will use the item.
Making a commitment now ensures future students will reap the benefits of your generosity. You can make a deferred gift to Virginia Western when you include specific language in your will naming the Educational Foundation as a recipient of your planned gift. Your will can include gifts of property (cash, securities, and personal property), a percentage of your estate; or the remainder of your estate after all other bequests have been filled. Your attorney can help you plan a bequest that best suits your needs. Click here for more information on planned giving.
There are two ways you can give a life insurance policy to Virginia Western to make the Educational Foundation either the beneficiary or the owner of the policy. If your family responsibilities are not as substantial as they once were, then your gift of an insurance policy that is paid up or partially paid up may be beneficial. Consult your life insurance agent for more details on the various types of insurance gifts you can make to Virginia Western. Click here for more information on planned giving.
Naming Virginia Western as a beneficiary for a portion of your retirement savings is another way to make a charitable contribution to the College. The administrator of your IRA, profit-sharing account, or other retirement plan should be able to help you with this. Click here for more information on planned giving.
Life Income Gifts
In some instances, you can place money in a qualified trust that will provide income to you (or another loved one) for life. The remaining principal of the trust is then paid to the Educational Foundation upon your death or other specified date. These trusts, which are often referred to as charitable remainder trusts, assure you of income while providing an immediate charitable deduction. To get more information about trusts, please contact your financial advisor or the Educational Foundation office. Click here for more information on planned giving.
The Virginia Western Educational Foundation has numerous naming opportunities across our beautiful 70-acre in Southwest Roanoke. From naming an existing building to endowing an academic program to naming a prominent public area, the College has a range of options available. Please contact Amanda Mansfield at 540-857-6962 to discuss what naming opportunity may be right for you or your organization.
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