|Gifts of Cash or Personal Check|
Gifts* of cash or by personal check help us carry out the universal mission of Christ's church and our mission to educate men and women for lay and ordained leadership and service in the ministry of the Church. Checks can be made payable to Virginia Theological Seminary and sent to: The Finance Office, Virginia Theological Seminary, 3737 Seminary Road, Alexandria, VA 22304. Please be sure to include any special designations in the memo line of your check.
*Note: On Oct. 3, 2008, the president signed the Emergency Economic Stabilization Act of 2008 (H.R. 1424), legislation that includes a two-year extension of the IRA charitable rollover. The provision permits IRA owners starting at age 70 - to make tax-free charitable gifts totaling up to $100,000 per year from their IRAs directly to eligible charities, including schools, colleges and universities.
|Memorial and Honor Gifts|
Over the years a special tradition has evolved as individuals have contributed to Virginia Seminary in memory of particular individuals, such as a beloved family member, a revered professor or a devoted pastor. Many gifts have also been made in honor of an individual's current ministry. Contributors of Memorial and Honor Gifts to Virginia Theological Seminary are recognized in The Annual Report for each fiscal year and honored as members of the Seminary's Giving Societies.
|Gifts of Securities|
Gifts of appreciated stock offer you the greatest advantages, as you may claim an income tax deduction for the full amount of the stock's current value. The differential (current value less original cost), which would represent a capital gain if you sold the shares, avoids taxation completely when given as a gift to the Seminary. The current value of the securities is a charitable income tax deduction as allowed by law. Please contact Olivine Pilling at 1-800-941-0083 or 703-461-1709 for appropriate instructions for the transfer of securities.
|Including the Seminary in your Will|
Ways to Name Virginia Seminary as a Beneficiary
There are a number of simple ways to include Virginia Seminary in your will or trust. The most common is an unrestricted outright bequest. In making such a gift, you may designate either a specific dollar amount or a percentage of your estate to Virginia Seminary.
Alternatively, you may choose to name the Seminary as a remainder beneficiary. In this case, the Seminary will only receive funds after specific sums have been paid to other designated beneficiaries.
A third option is a contingent bequest which will provide for the distribution of assets to Virginia Seminary only if one or more of your named beneficiaries does not survive you.
Including a Bequest to Virginia Seminary in Your Will
For an Unrestricted Bequest:
"I give and bequeath to the Protestant Episcopal Theological Seminary in Virginia ($__________) or (__________% of the residue of my estate) to be added to the General Endowment Fund of the Seminary."
For a Specified Bequest:
"I give and bequeath to the Protestant Episcopal Theological Seminary in Virginia ($____________) or (____________% of the residue of my estate), the income to be used only for the following purpose: (state purpose). If, in the future, it is in the opinion of the Dean and President, with the concurrence of the Board of Trustees, that all or part of the income of this fund cannot be usefully applied to such purpose, the Seminary may use the same for any purpose that will most nearly accomplish my wishes."
For a Contingent Bequest:
In the event that any of the beneficiaries named herein (in my will) predeceases me (or predeceases me leaving no heirs), I leave the rest and residue of my estate to the Protestant Episcopal Theological Seminary in Virginia, to be added to the General Endowment Fund of the Seminary.
Individuals who inform us that they have made a provision for Virginia Theological Seminary in their will or trust are recognized in The Annual Report for each fiscal year and honored as Members of the Seminary's Francis Scott Key Society.
Please call or write the Office of Institutional Advancement for additional information. (703-370-6600)
|Gifts that Provide Income for Life|
We offer several methods by which you can transfer capital to Virginia Theological Seminary but retain the income from the asset for your lifetime and/or the lifetime of your spouse or another person. You can fund a Charitable Gift Annuity arrangement, whereby you transfer capital and receive a guaranteed fixed income each year, paid quarterly. You can also invest in the Virginia Seminary Pooled Income Fund, a mutual fund type trust which combines many gifts, and receive a prorated share of the income earned by the fund each year, again paid quarterly. Or, for larger gifts, you can establish separate Charitable Trusts which will pay you either an annuity or percentage amount.
The advantages vary according to your circumstance and objectives, but all of the plans at Virginia Theological Seminary offer you the following benefits:
1. Annual Income for yourself and/or another beneficiary. Often you can increase your expendable income because the Seminary can invest your asset at a higher yield.
2. Immediate federal income tax deduction.
3. Avoidance of a capital gains tax when giving appreciated property.
4. Investment Diversification.
5. Estate tax savings.
When the last income beneficiary dies, the principal is transferred to the Seminary for a purpose of your choosing.
We would be pleased to discuss any of these giving opportunities with you and your counsel. For additional information please contact the Rev. J. Barney Hawkins IV, Ph.D., Vice President for Institutional Advancement at 1-800-941-0083 or 703-461-1754; firstname.lastname@example.org.
Individuals who inform us they have made life income gifts to Virginia Theological Seminary are recognized in The Annual Report for each fiscal year and honored as members of the Seminary's Francis Scott Key Society.
Your gifts enable the Seminary to prepare men and women to address timeless needs in an ever-changing world, without the oppressive burden of significant educational debt incurred while at Seminary. Your gifts also allow the Seminary to meet the needs of congregations and communities in the wider church at a time of great challenge and opportunity.
The Seminary depends upon the philanthropy of all our friends, and we are forever grateful for that support.