Plan for Tomorrow
Provide for the future of the MCV Campus with a personal and enduring gift. Future gifts of all sizes help support scholarships, clinical research, and other opportunities on the MCV Campus. Consider the following gift options to help shape the lives of future generations.
Make gift through your will or trust
Many people will create a will or trust at some point during their lifetime. A gift through your will or trust is easy to arrange, will not alter your lifestyle, and can be easily modified to address your changing needs. Their broad appeal makes wills and trusts popular options for charitable planning.
Learn More about Wills and Living Trusts
Donor Stories:
- David Sarrett. D.M.D: Dentistry Dean’s Bequest Invests in a Strong Future Faculty
- Jeanette Jones and Jackie Jones Stone: Twin Nurses Who Found Family at MCV and VCU Plan to Establish Scholarship
- Charlie Teaters: The MCV Campus is a Springboard, and Grads are Saying “Thank You’
- Cathy Plotkin: Turning a Loss into Something Beautiful
Name the MCV Foundation as a beneficiary of your IRA or other account
One of the easiest ways to make a gift that reaches beyond your lifetime is by using a beneficiary designation. You can name the MCV Foundation as a beneficiary (or successor in interest) of assets such as your
- Retirement plans
- Life insurance policies
- Donor advised funds
- Financial accounts
Your account administrator can you provide you with a simple form to complete. When completing the form, you will likely need the following information for the MCV Foundation:
- Legal Name: Medical College of Virginia Foundation
- Address: 1228 E. Broad St., Box 980234, Richmond, VA 23298
- Tax ID: 54-6053660
Beneficiary Designation forms often do not have a place for you to indicate how you’d like for your gift to be used, please let us know about your gift so that we can thank you and make a note of the way you wish for it to be used.
Learn More About Charitable Beneficiary Designations
Make a gift that pays income
Charitable Gift Annuities and Charitable Remainder Trusts are a win-win for you and your family, as well as the MCV Campus. These types of gifts are part gift and part investment, they provide you with income for life or for a specified period of years and leave the remainder to the MCV Campus. Charitable Gift annuities are created with a simple standard contract, and Charitable Remainder Trusts are more involved agreements that can be tailored to your specific circumstances.
Charitable Gift Annuities
A charitable gift annuity is a simple contract that provides you (or one or two others) a fixed income for life in exchange for a gift of cash or appreciated securities.
The minimum gift to establish a Charitable Gift Annuity with the MCV Foundation is $25,000 and the income beneficiaries must be at least 50 years of age. The MCV Foundation uses the ACGA recommended payout rates based on the birthdates of the income beneficiaries.
Planning tip: Consider funding a deferred or flexible deferred charitable gift annuity if you do not need the income right away. This will result in a higher payout rate when your payments begin.
Learn More About Charitable Gift Annuities
Donor Stories:
Charlie Teaters, MD: Charitable Gift Annuties Benefit You and Your Passion
Kathy Bobbitt, Ed.D, and Bertha Rolfe, R. Ph.: Charitable Gift Annuities: Gifts that Pay Back
Charitable Remainder Trusts
Charitable remainder trusts are similar in concept to charitable gift annuities, but they can be more individualized and funded with a broader range of assets. In addition to cash and appreciated securities, you can also fund a charitable remainder trust with real estate or other appreciated property.
There are two ways to receive payments from a charitable remainder trust, an annuity trust provides a lifetime income stream that is determined as a fixed amount, or a unitrust that makes payments as a percentage of the value of the trust, revalued annually.
You receive an immediate charitable income tax deduction for a portion of any gift you make to the trust. Upon termination of the trust, the accumulated principal, or “remainder interest,” goes to your desired cause on the MCV Campus. The MCV Foundation does not trustee charitable remainder trusts, although we are happy to work with you and your advisor to establish this type of planned gift.
Learn More About Charitable Remainder Trusts
Make a gift of real estate
You can make a huge impact on the MCV Campus with a gift of real estate. There are a variety of giving options to choose from many of which offer significant tax benefits. You may want to continue using the property for life, may be ready to let it go in exchange for a significant charitable deduction, or be interested in exchanging it for a stream of income and a smaller charitable deduction. Gifts of real estate are highly individualized, please contact us to explore which opportunities might work best for you.
