The Office of Gift Planning can help you explore ways to use cash, securities, real estate, or other assets to create an outright or future gift to Virginia Tech – one that helps you accomplish both your personal and charitable goals.
Use the links below to learn how these giving strategies can work for you, and phone or e-mail us with any questions you or your advisors may have. We would be pleased to help you discover the best way for you to support Virginia Tech with a gift that fits your life.
We can help you plan and implement outright gifts, some of which can offer special tax advantages or other benefits:
Gifts of Stocks and Securities
Reduce your cost of giving
A gift of stock or securities (stock, bonds, mutual funds) typically involves publicly traded shares, such as those traded on the major exchanges and over the counter, as well as most mutual funds. Gifts of restricted stock and privately held stock, though more complex, are also possible.
Your gift of securities can provide you with significant tax and financial benefits, such as bypassing capital gains taxes and providing a valuable income tax deduction – both of which effectively reduce the cost of making your gift.
To coordinate any gift of securities, please contact the Office of Investments and Debt Management at 540/231-2325.
For more detailed instructions on how to make gifts of securities, please visit the appropriate Office of Investments and Debt Management Web page below.
Gift of Real Estate to Virginia Tech
Donate a common asset with uncommon advantages
Many types of real estate, including personal residences, farms, undeveloped land, and commercial properties, can be used to make a gift to Virginia Tech.
Donors of real estate receive an income tax deduction and avoid capital gains tax. In addition, your outright gift of real estate typically avoids maintenance costs, property taxes, insurance, and other on-going expenses.
The first step in making a gift of real estate to Virginia Tech is to contact the Office of Gift Planning. We can help you with required forms which include, at a minimum, an appraisal, environmental review, and deed.
- 540/231-2813 or 800/533-1144
Matching Gifts to Virginia Tech
Your company may have a matching gifts program. If you are affiliated with a company that matches contributions to higher education, your gift to Virginia Tech may be matched, doubled, or — in some instances — more than doubled. Some companies also match gifts made by retirees and/or spouses.
If your employer offers such a program, you can multiply the power of your gift by sending your firm's completed matching gift form along with your contribution.
To find out if your company has a matching gift policy, please enter your employer's name below.
If your company is eligible, please:
- Request and complete the matching gift form provided by your employer.
- Sign the form.
- Include the form with your contribution to Virginia Tech.
Mail your contribution to the following address:
902 Prices Fork Rd. (0336)
Blacksburg, VA 24061
Thank you for your support.
Gift of Life Insurance
Easy to give and often overlooked
Make an immediate gift of life insurance:
- A paid-up policy you no longer need can be cashed in to benefit the university, establish an endowed fund, or assist a capital building project or other need. Your income tax deduction would be roughly equal to the surrender value of the policy.
- A current policy (on which premiums are being paid) can be used to make an outright gift for which your income tax deduction would be roughly equal to the policy's surrender value. Continued premium payments you make would also be tax deductible.
Make a gift of life insurance without transferring policy ownership:
- For any life insurance policy you own, you can name the Virginia Tech Foundation Inc. as beneficiary. Simply complete a form supplied by your insurer.
- For group term life insurance provided by an employer, with employer-paid premiums, you can name the Virginia Tech Foundation Inc. as the policy beneficiary, and avoid paying taxes you would otherwise owe on the premiums.
- 540/231-2813 or 800/533-1144
Gift in Kind to Virginia Tech
Simplify your life
Virginia Tech benefits from a surprising range of gifts of tangible personal property and gifts-in-kind such as artwork, architectural drawings, collectibles, books, supplies, and numerous other items, many of which would otherwise have required the donor to provide costly or time-consuming care and management.
Both the value to the university and your potential tax benefits depend upon the use of the gift.
Related use: If your gift qualifies as "related use" – that is, if it will be used by the university to accomplish its mission – you can deduct the property's full fair market value. Examples of such gifts have included musical instruments used by student performers, scientific specimens for study and exhibit, and equipment used by researchers.
Unrelated use: For tangible personal property gifts with "unrelated use," the donor can typically deduct the lesser of the cost basis (usually the purchase price paid by the donor for the property), or the fair market value.
To learn more about donating tangible personal property and gifts-in-kind, contact the development officer for the area of the university you wish to support.
We can help you consider gifts that pay you income, estate gifts, and tax-advantaged deferred gifts including:
Change the world without changing your lifestyle
You create a bequest by including a gift for the university in your will or revocable trust. The university may be your only beneficiary or one of many. You can even use your bequest to take care of loved ones first, and pass your gift to the university only after the death of your survivors.
After you create your bequest, you continue to have full lifetime control of your assets and can adjust your gift at any time during your life. You are free to change the amount of your gift, how you wish it to be used, or any other detail of your bequest, should you decide to do so.
No estate taxes apply to your charitable bequest.
Choose a bequest that fits your goals
Your attorney can help you consider what type of bequest fits your overall estate plan, family commitments, and charitable goals. Here are some common types of bequests.
- Specific bequest: Create a gift of a specific dollar amount or specific asset. Click here for sample language for this type of bequest.
- Percentage bequest: Create a gift of all or a percentage of the remainder of the estate after all specific bequests and expenses related to the estate have been paid. A percentage bequest is sometimes called a residuary bequest. Sample language is available here.
- Contingent bequest: Make a gift to the university only in the event of the death of other named beneficiaries. Click here for sample language for this type of bequest.
- Testamentary trust: Combines multiple goals and long-term asset management, usually giving lifetime income to family members and the trust remainder to Virginia Tech. Your attorney can craft trust language to meet your specific needs.
Sample bequest language
It is important that your will or trust document say that you are making your bequest to “The Virginia Tech Foundation, Inc., Blacksburg, Virginia, for the support of Virginia Polytechnic Institute and State University." Below are samples of bequest language that may prove useful to you. These are examples only, and should be used with the advice and assistance of your attorney.
- Specific bequest: "I leave _________ (cash, securities, real estate, artwork, etc.) to the Virginia Tech Foundation, Inc., Blacksburg, Virginia, for the support of Virginia Polytechnic Institute and State University. This bequest shall be used for the (named scholarship, professorship, unrestricted, etc.)."
- Percentage of estate clause: “I leave _______ percent (____%) of my estate to the Virginia Tech Foundation, Inc., Blacksburg, Virginia, for the support of Virginia Polytechnic Institute and State University. This bequest shall be used for the (named scholarship, professorship, unrestricted, etc.).”
- Rest and residue clause: “After my specific bequests have been fulfilled, I give, devise, bequeath and appoint all the rest and residue of my estate, wheresoever situated and of whatever nature, to the Virginia Tech Foundation, Inc., Blacksburg, Virginia, for the support of Virginia Polytechnic Institute and State University. This bequest shall be used for the (named scholarship, professorship, unrestricted, etc.).”
- Contingency provision clause: “In the event my (spouse, daughter, son, friend - full name) shall predecease me, I leave their share to the Virginia Tech Foundation, Inc., Blacksburg, Virginia, for the support of Virginia Polytechnic Institute and State University. This share shall be used for the (named scholarship, professorship, unrestricted, etc.).”
If you or your attorney have questions, or if you wish to use your bequest to establish an endowment or to support a particular area or initiative at Virginia Tech, please e-mail firstname.lastname@example.org, call 800/533-1144 or 540/231-2813, or contact a development officer for the area you wish to support.
Gifts that Pay You Income
Provide for yourself, loved ones, and Virginia Tech
Here's how life income gifts work:
- You transfer cash, securities, real estate, or other qualifying assets to the Virginia Tech Foundation Inc. Using appreciated assets can reduce the effective cost of your life income gift.
- During your lifetime, you receive a predefined income stream. If desired, income can continue during a spouse's lifetime. Other individuals may be named as beneficiaries.
- When the plan ends, the university uses the gift remainder as you have specified.
Three kinds of gifts can pay you income:
- Charitable gift annuity
- Charitable remainder trusts
- Pooled income fund
These life-income gift plans are designed to generate lifetime income for you, or for someone you name, and to fund your gift to Virginia Tech when the plan ends, usually after your lifetime.
While there are various gift plans, there are basically two choices for how (fixed or variable rate) and when (now or later) you receive payments.
Receive fixed or variable payments:
Your payments may be a fixed dollar amount (often preferred by donors who wish to use the payments for a fixed expense such as a mortgage) or a variable dollar amount (often used by donors who wish to provide a hedge against inflation). Variable amounts are a stated percentage of the annual value of the account or the income (interest, dividends, and rent) earned by the gift.
Receive income beginning now, or later:
Your payments may begin immediately or you may choose to defer them, receiving either minimal or no payments until a specified future time. The future date could be a retirement date or until the sale of an illiquid asset that will fund the gift.
If you, your attorney, or your financial advisor have questions about creating a gift that will pay you income, or if you would like a free, personalized illustration of how a life-income gift plan can work for you, email email@example.com, call 800-533-1144 or 540-231-2813.
Use our gift calculator to explore gift options and the income you could receive.
More information on the three types of gifts that pay you income is below.
Charitable gift annuity
- A charitable gift annuity is a contract between you and the Virginia Tech Foundation that provides you (and/or others you name) an income stream for life. Payments are backed by the foundation's assets.
- Your income stream can begin as soon as the gift is completed. However, if you don't currently need the income, or if you want a larger income tax deduction, you may elect to defer the income until a future date. At the end of the designated lifetimes, the remainder will be used by the university according to your wishes.
- Because the payments are fixed, charitable gift annuities are appropriate for donors who want to make a significant gift to Virginia Tech but are concerned with maintaining a life income stream that they can count on. Charitable gift annuities can be funded with gifts beginning at $10,000.
Charitable remainder trusts
- In a charitable remainder trust (CRT), you make an irrevocable transfer to a certain kind of trust. In exchange, the trust will pay you and/or other designees (beneficiaries) an income stream for life. (Or you may establish a CRT with payout for a period of time not to exceed 20 years.) At the end of the trust, the remainder will be used by the university according to your wishes. You can establish a CRT-administered by the Virginia Tech Foundation with a minimum gift of $100,000.
- Payments from CRTs can be made to you in several ways. Charitable remainder annuity trusts (CRATS) pay fixed amounts and are appropriate for those planning to use payments for specific obligations. Charitable remainder unitrusts (CRUTS) pay a stated percentage of the trust's annual value, which will vary. This option is appropriate for those looking for the chance for payments to grow over time.
Pooled income fund
- The Virginia Tech Foundation Pooled Income Fund can be viewed as a community charitable remainder trust. Instead of establishing their own separate trusts, pooled income fund donors give a minimum of $10,000 to a common trust that pays them their share of the interest and dividends earned by the trust for the rest of their lives.
- These payments can continue for the life of a spouse or other loved ones. At the end of the gift, the portion of the pooled income fund attributable to the donor's contribution is then used to support the university in the manner specified by the donor. Learn more about the tax benefits of life income gifts.
Retirement Account Gifts
Maximize your gift to Virginia Tech and to your heirs
The assets you have accumulated in a tax-deferred retirement account such as an IRA, 401(k), 403(b), or SEP, can fund a tax-wise gift that will come to Virginia Tech after your lifetime – with minimum paperwork, maximum flexibility, and no impact on your retirement fund or other lifetime finances.
It’s easy to designate the Virginia Tech Foundation Inc. as a beneficiary of your IRA or other retirement fund. Simply sign a form supplied by the firm that administers your retirement account. This form, not your will or trust, governs your beneficiary designation. Should you decide to change your gift, you can sign a new form.
Since retirement accounts are subject to both income taxes and possible estate taxes, they are less valuable to heirs than to charities, which pay no income taxes or estate taxes.
Choosing these assets for your deferred charitable gift, and passing more tax-favored assets to heirs, can benefit both your heirs and Virginia Tech.
While no attorney is required when you make a beneficiary designation, you are encouraged to consult your attorney or other advisor to ensure your retirement account gift is consistent with your overall estate plan.
You can also make beneficiary designations using assets other than retirement plans. Learn more.
If you or your attorney have questions, or if you wish to use your retirement account beneficiary designation to establish an endowment or to support a particular area or initiative at Virginia Tech, please e-mail firstname.lastname@example.org, call 800/533-1144 or 540/231-2813, or contact a development officer for the area you wish to support.
Maximum flexibility. Minimum paperwork.
Typically, you only need to sign a single form in order to create a beneficiary designation. On the form, you name the Virginia Tech Foundation Inc. as the beneficiary. The form is provided by the firm that manages the asset you wish to donate. Should you wish to change your designation, you can do so by signing a new form.
You can name the Virginia Tech Foundation Inc. as a beneficiary of:
- A life insurance policy you own and no longer need for its original purpose.
- Employer-issued life insurance, when you do not need to name a dependent as a beneficiary.
- The excess group term coverage provided by your employer, otherwise taxable to you. (As of this writing, excess coverage is the amount in excess of $50,000.)
- A financial instrument with a pay on death (P.O.D.) provision, such as a certificate of deposit or mutual fund.
- The balance remaining in your donor-advised fund after your lifetime.
- Your IRA, 401(k), 403(b), SEP, or other retirement plan. Learn more about retirement plan gifts.
While no lawyer is required, you are always encouraged to consult with your attorney and any other advisors to ensure your beneficiary designation is consistent with your other plans.
If you or your attorney have questions, or if you wish to use your beneficiary designation to establish an endowment or to support a particular area or initiative at Virginia Tech, please e-mail email@example.com, call 800-533-1144 or 540-231-2813, or contact a development officer for the area you wish to support.
Charitable Lead Trusts
Maximize your family’s inheritance
Charitable lead trusts are often used to transfer securities, real estate, or other significant assets to family members at a future date, typically with the intent of reducing or eliminating gift or estate taxes for heirs.
Through this special gift arrangement, you can use an asset to provide an income stream to Virginia Tech – beginning now and lasting for a specified number of years – and in the future, pass the remaining assets to those you name.
If the term of years is long enough, and the rate of payout high enough, it is possible to pass assets to heirs free of gift or estate taxes.
Other planning options are possible. For example, you can seek certain tax benefits. You can also choose to have the assets in your charitable lead trust revert back to you, as the donor.
In addition to its future financial benefits to you or your heirs, a charitable lead trust is a gift with immediate impact. You can see your gift at work at Virginia Tech today.
Use our gift calculator to see how a charitable lead trust could work for you.
If you, your attorney, or your financial advisor have questions about charitable lead trusts, please email firstname.lastname@example.org, call 800-533-1144 or 540-231-2813, or contact a development officer you wish to support.
Retained Life Estate
Continue to live in the home you give
A retained life estate gift can allow you and a surviving beneficiary – usually a spouse – to remain in your home or on your farm throughout your lifetime. With such a gift, you deed the property to the Virginia Tech Foundation Inc. while you retain lifetime use.
Unlike a similar gift through your will, this option can give you an immediate income tax deduction.
This gift plan can also simplify the administration of your estate, freeing your heirs from the burden of selling the property. When you no longer need it, your gift will be used as you specify to support Virginia Tech.
Use our gift calculator to see how a retained life estate gift could work for you.
If you or your attorney have questions about a retained life estate or other gift, please email email@example.com, call 800-533-1144 or 540-231-2813, or contact a development officer for the area you wish to support.