Planned gifts at the Villa typically fall into two categories: A gift where the Villa has been named as a beneficiary recipient, or through an estate provision or codicil.
Whichever way you choose to leave a legacy will change countless lives and secure the Villa’s future of service for generations to come. Please notify us of your planned gift by calling 804-553-3220 or by emailing P.J. Shaver, CFRE so that we can ensure your intentions are honored and so we may include you as a member of the Archway Society.
The easiest way to make a significant impact to the Villa is by designating St. Joseph’s Villa as a beneficiary of your retirement plans, donor-advised funds, or life insurance policies. To do so, contact your plan administrator or log on to your online portal, and complete the appropriate beneficiary designation information. Beneficiary designations are revocable and can be changed at any time.
If you are 72 or older and required to take an annual Required Minimum Distribution (RMD) from your IRA this year, consider making a gift directly from your IRA to support the Villa. You may give up to $100,000 through a direct Qualified Charitable Distribution (QCD) to the organization(s) of your choosing while reducing your tax burden.
Because IRA distributions are treated as ordinary income, using those assets for philanthropy may offer significant tax benefits, even if you take the standard deduction.
It should be noted that the SECURE Act raised the RMD age to 72, but QCD’s can be still be made for philanthropic purposes after you turn 70 ½. In addition, because QCDs reduce the balance of your IRA, they may reduce your annual RMD in future years.
A donor-advised fund (DAF) is a private fund managed by a non-profit organization (such as Fidelity Charitable, Schwab Charitable, or The Community Foundation), and created for the purpose of making charitable donations on behalf of a family, or individual. In 2017, Congress passed the Tax Cuts and Jobs Act, which affected how many donors chose to make charitable contributions. This led many donors to create DAFs to maximize their charitable deductions in a given year.
Aside from the initial tax benefits, donors may choose to name the Villa as a beneficiary of their DAF to ensure that their philanthropic goals and legacy continue. Updating your beneficiary designations are often as easy as going onto your DAF’s website and designating the Villa as a full or partial beneficiary.
*The Foundation does not currently maintain donor advised funds, although gifts from such funds held by others are accepted when in accord with Foundation policies and procedures.
You can designate the Villa as a beneficiary of a permanent policy, such as whole life policy. Alternatively, some donors choose to purchase a life insurance policy for philanthropic purposes. Both ways allow you to provide a larger gift than you may be able to with cash during your lifetime.
If your family is taken care of in other ways, this can help alleviate some of the estate tax burden on your family if your estate is the named beneficiary of the policy.
The most common of all planned gifts, a bequest, is a gift made through a will or a living trust, and can include a number of different assets including cash, appreciated securities, real estate, or tangible personal property. Your bequest to the Villa can be included when drafting a new will, or added to an existing will or living trust through a codicil.
Donors of gifts valued at $100,000 or more for endowment or quasi-endowment purposes will be given the opportunity to establish a Named Endowment Fund. The name will be associated with the fund for the life of the fund. Expenditures from the fund proceeds will be identified with the name to the degree practicable. Named Funds may be undesignated or for designated purposes and will be governed by an individual Named Endowment Fund Agreement.
The Foundation reserves the right to disclaim bequests that are not in accordance with its mission and purpose.
Gifts of cash, checks, money orders, electronic bank transfers, or wire transfers through your estate are gratefully welcomed by the Foundation.
Publicly traded appreciated securities that a donor has owned for more than one year can be transferred to the Foundation. The Foundation will sell all appreciated securities upon receipt, and use the proceeds to fund the endowment.
Gifts of real estate may often be beneficial to both the donor and the Villa. However, marketability and environmental risk must be assessed prior to the Villa’s acceptance of such gifts. No gift of real estate shall be accepted without prior approval by the Gift Acceptance Committee. Proposed gifts of real estate encumbered by a mortgage generally will be discouraged, as the ownership of such property may generate unrelated business income and potential disqualification of certain split interest gifts.
Gifts of tangible personal property will generally be accepted by the Foundation if they qualify as “related use” items for the purposes of the Villa as defined by the IRS Code or are readily marketable by the Foundation. Typical items include clothing, jewelry, art, musical instruments, writings, furnishings and other household goods.
The Foundation is not currently able to accept gifts of cryptocurrency such as Bitcoin, Ethereum, Dogecoin, or Litecoin.
Disclaimer: St. Joseph’s Villa, its employees, representatives, and this site does not offer legal or financial advice. Please consult with your attorney, financial advisor, estate planner, or accountant before making any arrangements.
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