Planned Giving

Make a planned gift to support UVA Wise

Planned gifts include bequests, gifts of life insurance and retirement plans, and other contributions made through a donor’s estate. Many planned giving options allow donors and their loved ones to receive income during their lifetimes from assets that will eventually benefit the college. These life-income gifts deserve special consideration when making financial and estate plans.

Gift Annuity

A gift annuity is a simple contract under which the donor transfers assets to the College, which in return provides life income to the donor and up to one other family member or loved one.

Charitable Gift Annuity: Immediate Income

A charitable gift annuity provides you with immediate income for life and the principal passes to UVA Wise when the contract ends. A charitable gift annuity may be established with a small investment ($5,000 minimum) and can be funded with cash, appreciated securities or in some cases a gift of real estate. The minimum age to fund a gift annuity is 55 years of age.

Benefits

1. One hundred percent guaranteed income, backed by the full assets of the University of Virginia.
2. If funded with appreciated securities, you may avoid a portion of your capital gains tax.
3. Make a significant gift that benefits you now and UVA Wise later.
4. Donor receives an immediate income tax deduction.
5. A portion of the annuity income may be tax-free.
6. Ideal to supplement other retirement income.

Deferred Gift Annuity

A deferred gift annuity provides you with income beginning on a specified date in the future (one year or more) and continues for life and the principal passes to UVA Wise when the contract ends. A deferred gift annuity may be established with a small investment ($5,000 minimum) and can be funded with cash, appreciated securities and in some cases a gift of real estate.

There is no minimum age requirement for establishing a deferred gift annuity although you must be at least 55 years of age to receive income payments.

Benefits

1. One hundred percent guaranteed income, backed by the full assets of the University of Virginia.
2. Deferring payments provides a higher annuity rate and generates a larger charitable deduction.
3. Immediate tax deduction and future tax deductions due to deferral of income.
4. Make a significant gift that benefits you when needed (in retirement or when a grandchild needs assistance with tuition) and the college later.
5. Ideal to supplement other retirement income.

Relevant Forms

• Updated Gift Annuity Rates (PDF)
• Planned Giving Form (PDF)

Appreciated Securities

Transfer your securities to UVA Wise. The College sells your securities and uses the proceeds as designated by you or for its greatest needs.

If your investments in the financial markets have been successful, you can use these assets without losing a substantial portion of your earnings to the capital gains tax by making your gift with appreciated stock.  It is also possible to make a gift with appreciated securities in a mutual fund.

Benefits

1. Receive an immediate income tax deduction for the fair market value of your securities.
2. Pay no capital gains tax on the transfer.
3. Specify the purpose of your gift or let the college direct your gift towards its greatest needs.
4. Make a significant gift to the college without adversely affecting your cash flow.
5. A gift of appreciated securities may also be used to fund a charitable gift annuity providing income to the donor now and benefiting UVA Wise later. 

Personal Property

Gifts of personal property, also known as a gift in kind, help support teaching and scholarship and can greatly enhance the quality of life on campus.

Gifts of artwork, antiques, collectibles or other personal property are generally accepted and may be displayed or sold to further the mission of the college. Such gifts must be appraised by an outside expert, unless an item has an apparent value of less than $5,000.

Benefits

1. May receive a charitable deduction for the appraised value at the time of the gift.
2. The gift’s value is removed from your estate, lowering your estate taxes.
3. Make a significant gift to the college without adversely affecting your cash flow.
4. Make a larger donation than if you sold the gift, paid capital gains tax on the sale, and contributed cash.

Real Estate

Deed your home, a commercial building or investment property to UVA Wise.

Real estate can be contributed as an outright gift or used to finance a planned gift, such as a charitable trust. Available options include a retained life estate, which allows the donor to continue using the property for a certain number of years or for the donor’s lifetime. Other arrangements offer special tax advantages and lifetime income.

A gift of real estate may also be used to fund a charitable gift annuity, providing income to the donor.

Gifts of real estate, such as undeveloped land, a residence, a vacation home, a farm, or commercial property, should be arranged through the Office of Advancement and made through the University’s Real Estate Foundation. The foundation requires the donor to bear certain costs when making a real estate gift, such as an appraisal to determine the fair market value. Also, the foundation deducts transaction costs from the proceeds of the sale of the property, including the closing costs, title insurance, a survey (if needed), and any taxes due before the gift is completed.

Benefits

1. Receive an income tax deduction for the fair market value of the real estate.
2. Pay no capital gains tax on the transfer.
3. The gift’s value is removed from your estate, lowering your estate taxes.
4. Make a significant gift to the college without adversely affecting your cash flow.
5. Transfer the inconvenience and expense of managing the property.

Wills, Living Trusts and Retirement Plans

Through a will, living trust or retirement plan, you can make gifts to UVA Wise larger than anything you could imagine in your lifetime.

Provide now for a future gift to UVA Wise by including a bequest provision in your will or revocable trust, or name the college as a beneficiary of your IRA, 401(k) or other qualified plan.

Benefits

1. Revocable or can be modified if circumstances change.
2. Realize your vision for the future in a tangible way without a financial burden during your lifetime – cost a donor nothing during their lifetime.
3. For individuals who wish to support UVA Wise at levels that will produce an endowment in perpetuity, separate endowment agreements can be created to designate the donor’s wishes.
4. May reduce estate tax for surviving family members.
5. No limit on estate tax deductions taken for charitable bequests.

Life Insurance

A new or existing life insurance policy is a low-cost way to make a significant gift to the College.

You can prepare now for a future gift to UVA Wise by naming the college as owner and beneficiary or just beneficiary of a life insurance policy.  Please note that UVA Wise must be assigned ownership and listed as beneficiary of the policy for a gift to be eligible for tax benefits.

Benefits

1. Tax benefits if UVA Wise is named as owner and beneficiary of the policy.
2. Realize your vision for the future in a tangible way without a financial burden during your lifetime.
3. Make an extraordinary gift to the college.

UVA Wise does not provide legal, tax or financial advice. We strongly recommend that you consult professional advisors on all legal, tax or financial matters, including gift planning considerations. To ensure compliance with certain IRS requirements, we disclose to you that this communication (including any attachments) is not intended or written to be used, and cannot be used, for the purpose of avoiding tax-related penalties.