Provide for Today
Are you eager to support current activities on the MCV Campus? In addition to making a cash gift, consider the following options to provide current support to the MCV Campus schools or unit that has been meaningful in your life.
Request a transfer from your Individual Retirement Account
If you are 70½ or older, you can take advantage of a simple, tax-friendly method of giving to the MCV Foundation. This method is referred to as making a ‘QCD’ (Qualified Charitable Distribution) or 'IRA Rollover' gift. You can transfer up to $100,000 from your IRA directly to a qualified charity such as the MCV Foundation and avoid paying the tax you would have incurred had you taken it as income.
Also, if you have a 'required minimum distribution' (RMD), the amount you rollover to charity will reduce the amount to you are required to withdraw and pay taxes on. RMDs currently begin at age 72, but all RMDs are suspended for 2020. You may make a gift from your IRA account and avoid paying taxes on the distribution regardless of whether or not you have an RMD.
Planning tip: Your IRA account is one of the best ways to leave a future gift to the MCV Foundation. IRA accounts are taxed to individuals who inherit them, but not to charities. If you are thinking of including a gift to the MCV Foundation in your estate plan, naming the MCV Foundation as a beneficiary of your IRA account and leaving other assets to heirs is a tax-smart (and easy!) way to do so.
Learn more about IRA Charitable Rollovers
Donor Stories:
Michele and Don Romano: A ‘Win-Win’: How IRA Charitable Rollovers Enable Steady Support
Nancy and Craig Canning: In Gratitude for a Return to the Joys of Everyday Life
Gurpal Bhuller: Retired Orthopaedic Surgeon Invests in MCV Campus with IRA Rollover
Make a gift of Appreciated Securities
Buy low. Give high. When you donate appreciated securities that you have owned for more than one year, your gift costs you less than the MCV Foundation receives. In addition, you will avoid the impact of capital gains and you will get a charitable income tax deduction for the full value of your gift.
Planning tip: If you plan to make a gift to the MCV Foundation but also want to maintain your stock portfolio, talk to your financial advisor about transferring appreciated securities to the MCV Foundation and then using the cash you would have used to make a gift to repurchase the same securities at a higher basis.
Donor Stories:
Adrienne Maxwell: Donating Stock Fuels Research Discoveries, and it’s Surprisingly Simple
Randolph Duffer, M.D.: Donating Stocks Can Help Save Lives, and It’s Easy to Do
Recommend a gift from your Donor Advised Fund
Do you have a donor advised fund? If so, this is wonderful way for you to support the MCV Foundation with dollars you have already earmarked for charity. It’s as simple as contacting your fund administrator to recommend that a gift be made to the MCV Foundation. Since some gifts arrive without identifying information, we suggest that you also contact us to let us know to expect your gift and what you would like for it to support.
Planning tip: Your Donor Advised Fund can also be used to create a legacy gift by naming the MCV Foundation as successor in interest.
Learn more about Donor Advised Funds
Make a gift of Real Estate
Making a gift of appreciated property like real estate, artwork, or other significant assets is a great way to provide current support to the MCV Campus and also receive an immediate charitable deduction on your income taxes. You also avoid capital gains taxes and reduce estate taxes in the future.
Planning tip: There are also many deferred ways to make a gift of real estate, including options that allow you to retain the right to use the property for life or even to establish a gift that pays you income.
Learn more about Real Estate Gifts
Establish a Charitable Lead Trust
A charitable lead trust allows you to transfer assets to future generations at a significantly reduced gift or estate tax cost while providing annual payments to your chosen area on the MCV Campus for a term of years (or until the end of your or another’s life). When the lead trust terminates, all remaining trust assets revert to non-charitable beneficiaries.The MCV Foundation does not trustee charitable lead trusts, although we are happy to work with you and your advisor to establish this type of planned gift.
Planning tip: Lead trusts are most appealing in a low interest rate environment. Consider a “grantor” lead trust if your goal is to avoid income taxes and return the assets to yourself, and a “non-grantor” lead trust if your goal is to avoid estate taxes and preserve the assets for your heirs.
