You don't need to have a lot of money to make a difference in your community. Any gift to the Virginia Community Foundation can have a lasting impact. Taking time to select the best method of gifting to the foundation may allow you to give a larger gift at the same after-tax cost.

The greatest encouragement for some individuals to give is to see what other members of the community have given, therefore gifts to the Virginia Community Foundation are usually publicly acknowledged. However, it is always our desire to respect the wishes of our donors, so we do honor the requests of those donors who wish to give anonymously.

Gifts you can make today

• Cash is the most common form of a charitable gift. Any size gift can be given to support the Virginia Community Foundation. Tax benefits are available for gifts of cash if you itemize deductions on your tax return.
• Memorials have become a very popular way for people to give cash gifts. A memorial is generally made to honor a friend or loved one whom has died, but gifts of this type can also be made to honor a special occasion, i.e., a special birthday, anniversary or family event in someone's life.

Gifts of property

If you have property that has increased in value since you purchased it, you may wish to consider making a gift in the form of property, such as appreciated stock, securities, real estate or collectibles. The direct donation of appreciated property could afford you a tax-efficient way to make meaningful gifts with little or no effect on your current spendable income because federal and state governments have provided greater tax incentives for these types of gifts. Capital gains taxes that would be due on a sale of appreciated property can be avoided, making your gift much more effective than cash.

Gifts that give back

• Gift annuities can be established for the Virginia Community Foundation. An individual or a couple can purchase an annuity with stock or cash and receive income for life on the gift. Part of the gift is tax deductible and part is taxed, depending on the fair market value. Upon death of the individual or couple, the principal of the annuity will go to the Virginia Community Foundation.
• Living Trusts are becoming more widely used by people who wish to appoint an individual or corporate trustee to manage assets during life and provide for final distribution at death. You can retain income from the trust during your life, or designate a fund to receive the income. Upon death, you can have the corpus returned to your estate or have part or the entire corpus go to the Virginia Community Foundation.
• Life insurance gifts allow you to make a gift of assets you may no longer need. If you no longer need the benefits of your insurance policies, you can use their cash value to fund a gift immediately or designate the Virginia Community Foundation as beneficiary upon death.

Deferred Gifts
Leave a lasting legacy by remembering the Virginia Community Foundation in your will. You may choose to give a specific amount, a percentage of your estate, or all or part of what remains after providing for our loved ones. If you have built up excess retirement funds, a charitable gift of this type can often produce the greatest tax savings for your heirs and may be the best choice from an estate tax planning perspective.

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