Thank you for considering a legacy gift to CHIP of Roanoke Valley. Planned giving allows you to make a lasting impact on our mission while maximizing your personal financial, tax, and estate planning goals.
Below is an overview of the most common giving vehicles to help you choose the strategy that best fits your vision, your family’s needs, and your financial situation.
1. Gifts That Cost Nothing During Your Lifetime
These options allow you to retain full control of your assets today while ensuring our organization is supported tomorrow.
Bequest in a Will or Living Trust: You name CHIP of Roanoke Valley as a beneficiary in your will or trust. You can designate a specific dollar amount, a specific asset, or a percentage of your remaining estate.
Beneficiary Designations: You can name CHIP of Roanoke Valley as a primary or partial beneficiary of your retirement accounts (IRA, 401k), life insurance policies, or commercial annuities. This is often as simple as filling out a single-page form with your custodian.
2. Gifts That Provide Tax Savings Today
These options allow you to see your impact firsthand during your lifetime while unlocking significant tax efficiencies.
Qualified Charitable Distributions (QCD): If you are aged 70½ or older, you can direct up to $111,000 annually directly from your traditional IRA to our organization. This transfer satisfies your Required Minimum Distribution (RMD) and is completely excluded from your taxable income.
Appreciated Securities (Stocks): By donating appreciated stocks or mutual funds directly to us, you avoid paying capital gains taxes on the appreciation and receive a federal income tax deduction for the full fair market value of the stock.
Donor-Advised Funds (DAF): You can contribute cash or assets to a DAF, claim an immediate tax deduction, and then recommend grants to our organization over time.
3. Gifts That Pay You an Income Stream
These advanced vehicles allow you to make a meaningful gift while securing a predictable income source for yourself or a loved one.
Charitable Gift Annuity (CGA): In exchange for a gift of cash or stock, we provide you with fixed, guaranteed payments for life. The remaining balance comes to our organization after your lifetime.
Charitable Remainder Trust (CRT): You transfer assets into an irrevocable trust that pays an income stream to you or your heirs for a set term or for life. When the trust ends, the remaining principal goes to our organization.
4. Permanent Endowments & Real Estate
These strategies focus on long-term institutional stability and complex tangible assets.
Endowment Gifts: You can establish a named permanent fund or contribute to an existing endowment. The principal of your gift is safely invested, and only a portion of the annual earnings is spent, providing a permanent, stable source of income for our mission generation after generation.
Gifts of Real Estate: Donating a residential home, commercial property, or undeveloped land eliminates capital gains tax, provides an immediate income tax deduction, and can even be structured to allow you to continue living in the home for your lifetime.
5. Sample Legacy Language for Your Will
If you wish to include us in your estate plans, you can share the following exact legal text with your attorney:
“I give, devise, and bequeath to CHIP of Roanoke Valley, a non-profit organization located at 1201 Third Street SW, Roanoke, VA 24016, having the Federal Tax ID / EIN: 54-1566451, the sum of $ [OR % of my estate / OR description of specific property] to be used for its general tax-exempt purposes.”
Contact Information:
Tiffany Dennis, Major Gifts Officer at CHIP of Roanoke Valley 1201 Third Street SW, Roanoke, VA 24016 | chiprv.org
540-314-5338 | tiffany.dennis@chiprv.org
Disclaimer: This document is for informational purposes only and does not constitute legal, financial, or tax advice. We strongly encourage you to consult with your financial advisor, CPA, or estate attorney before finalizing any planned gift.