Planned Giving for the Benefit of the The Memorial Foundation of The Germanna Colonies in Virginia, Inc.
Planned Giving benefiting to the Germanna Foundation is one of the most effective ways you can aid us to promote the mission of the Germanna Foundation.
The Memorial Foundation of The Germanna Colonies in Virginia, Inc. is a tax exempt charitable organization.
Your donations will enable us succeed in our efforts to promote education about, and awareness of, the unique history of Germanna.
This list is some of the more traditional methods of Planned Giving. We suggest you may want to contact your attorney and/or tax advisor for specific information on the possibilities that make sense for you and your financial situation.
A bequest is a gift from an estate after his/her death, usually described in the donor’s will. Charitable bequests are generally deducted from the overall value of the estate and may decrease or eliminate estate and/or inheritance taxes levied by state and federal governments.
There are several types of bequests that are possible:
- A contingency bequest provides for a donation to the Germanna Foundation only if your spouse does not survive you.
- A remainder bequest allows a portion of your estate to be set aside to provide income for a surviving spouse for a period or lifetime.
- A residuary bequest provides that other expenses and bequests be honored prior to the donation to the Germanna Foundation.
- If you already have a will, your attorney can create a codicil, or amendment to the will to accomplish any of the above.
In many instances the simple insertion of a phrase such as that below can create a living legacy:
“I, (name of benefactor) , bequeath to the The Memorial Foundation of The Germanna Colonies in Virginia, Inc. a not-for-profit corporation incorporated under the laws of Virginia with principal offices in Locust Grove, Virginia, the following (sum, percentage, or property) .”
Memorial gifts are a very touching way to honor the loss of a loved one. Gifts of this nature can be made by noting the name of the individual being memorialized in the note section of the check. A special memorial card will be sent to the family of the individual being memorialized for gifts including names and complete address information.
Charitable-Remainder Trusts and Gift Annuities are methods of making an irrevocable gift of assets during your lifetime that will ultimately benefit the Germanna Foundation while providing income during your lifetime and/or your heirs’ lifetimes.
Because appreciated assets such as stocks or real estate can be protected from taxes, these approaches may benefit the donor while providing income for a period of time to one’s heirs.
Because state laws may impact the preparation of these instruments, it is important to seek local legal counsel to provide the maximum tax savings and avoid errors that may impact the gift transfer.
You may contribute a paid-up policy that you or your heirs no longer need by naming “The Memorial Foundation of The Germanna Colonies in Virginia, Inc.” as the irrevocable owner and beneficiary.
In this manner there may be an immediate tax deduction and a reduction in the total amount of your taxable estate. Life insurance proceeds pass immediately to the Germanna Foundation without delay of probate or estate handling.
Even if your life insurance policy is not paid-up, if it has an immediate surrender value, you may derive an immediate benefit by giving. The Germanna Foundation will then obtain the current value from your insurance company.
Your attorney and/or tax advisor can share other means by which you can gain tax savings by obtaining a new insurance policy with The Memorial Foundation of The Germanna Colonies in Virginia, Inc. as the beneficiary or assigning the ownership of a policy to The Memorial Foundation of The Germanna Colonies in Virginia, Inc. and continuing to make payments.
Gifts in honor of an anniversary, a wedding, the birth of a child, as a special “thank you”, a holiday gift for the person who has everything, for Father’s Day, or for any other special occasion you can think of can be made simply by noting on the memo section of the check the nature of the tribute.
If you would like the individual being honored notified of your gift provide their address with your check. It is important to note the amount of your gift will be held in confidence.
Many avenues are available for raising money for cancer cures, awareness and research. Popular methods of fund-raising include golf tourneys, cancer walks, marathons, tennis tournaments, etc.
If you need assistance planning an event, please contact us. We have a variety of ideas that others have used to raise funds. We may be able to supply brochures, logos, etc. to supplement your event.
Employer Matching Gifts
Many employers match their employees’ gifts to charities. Please check with your employer. This may be a way to double or even triple your contribution.
Donations via Visa and Mastercard
You can make donations securely to the The Memorial Foundation of The Germanna Colonies in Virginia, Inc. by using your credit card and making a direct contribution. See Donate button on right-hand column.