Ways to Donate/A Bequest or Other Planned Gift

Download a PDF now or have this inspiring how-to bequest guide mailed to you today. Learn more about ways you can give back to your community and honor a loved one or special person forever.

Hampton Roads Community Foundation is southeastern Virginia's expert in charitable bequests. The fastest way to get full information? Spend a few minutes on the phone with us. We love to talk to charitably inclined people. Call Nan Edgerton, vice president of development, at (757) 622-7951.

Your future gift can be of any size, but if it is $25,000 or more you can create a permanent named fund that will grow over time while accomplishing your charitable goals. Your foresight will benefit our region for generations to come.
 
Planned gift options include:

• Bequests
• IRA and Retirement Plan Assets
• Life Insurance
• Charitable Gift Annuity
• Charitable Remainder Trust
• Charitable Lead Trust
   

Once you have arranged for a planned gift, you can join the Legacy Society for Hampton Roads -- a group of generous people with plans for future foundation gifts.

To explore planned giving possibilities contact  Nan Edgerton, vice president of development.

Bequests

Charitable bequests generate much of the philanthropy at work today to make our region an even better place to live. By designating us as a beneficiary of your will or living trust you can create a permanent fund for the future. You can name a specific dollar amount, a percentage of your estate or the remainder of it. You can choose the type of fund that works best for you. Possibilities include supporting specific charities, addressing concerns such as the arts or human services, providing scholarships or leaving a gift that helps many nonprofits.

For suggested language to create a bequest click here.

IRA  and Retirement Plan Assets
You can name the Hampton Roads Community Foundation as the designated beneficiary of a retirement plan such as an IRA, 401(k) or403(b) to add to or establish a fund. This is an an effective way to make a charitable gift since it will not be subjected to either estate or income taxes, which would happen if you left your retirement fund to someone other than your spouse.

Life Insurance

One way you can make a gift of life insurance is by irrevocably designating the foundation as the owner and beneficiary of your policy. You can also name the foundation as a partial or contingent beneficiary of a policy on your life.

Charitable Gift Annuity
A charitable gift annuity is an easy way for you to make a charitable gift during your lifetime and still receive income. You and one other person may receive immediate or deferred income through the charitable gift annuity.

To start an annuity you must:

• Be at least 60 years of age
• Make an irrevocable gift of at least $25,000

A charitable gift annuity lets you:

• Support your favorite charities and causes through the remainder of your annuity.
• Receive an immediate charitable income tax deduction
• Lock in fixed, partially tax- free payments for life

Payments are based on your current age using rates established by the American Council on Gift Annuities.

Current Rates (established Feb. 1, 2009)	5.0%	5.3%	5.7%	6.3%
Age Rate	60	65	70	75

*Rates are approved by the American Council on Gift Annuities for a single life and are subject to change.

For more information, contact Nan Edgerton 

 
Charitable Remainder Trust
You can realize the tax advantages of making a gift now -- especially of appreciated assets -- while still receiving income from the assets through a charitable remainder trust. After providing income to you during your lifetime, the remaining assets can be used to establish a charitable fund or to contribute to an existing fund.

There are two types of CRTs: Unitrusts and annuity trusts. In both cases, the term may be for life or a period of years up to a maximum of 20 years. The minimum annual percentage payout is 5%.

Charitable Lead Trust
A Charitable Lead Trust (CLT) distributes income to your charitable fund for a period of years or during your lifetime. Then the assets return to you or surviving family members. A CLT can allow you to make a significant gift to charity and transfer assets to family members while saving taxes.