Planned Giving

Bequests Under Your Will

A bequest to the CCA Virginia enables a donor to make a significant gift that is not subject to estate or gift taxes. A bequest may leave a specific cash amount, property, or stock to CCA Virginia.  The donor may stipulate whether the bequest is for the general support of CCA Virginia or for a specific program.  Donors may be recognized in the "Virginia Tide" newsletter or may remain anonymous.  A bequest may also be made in honor or memory of another person.

How to Name CCA VA in a Will

If you choose to include CCA Virginia in your will or other estate planning documents, the recipient (CCA VA) should be named as: "CCA Virginia, a nonprofit corporation, or its successor organization(s) qualifying as a charitable organization under the Internal Revenue Code. CCA VA's tax identification number is xx-xxxxxxx.

Other Planned Giving Opportunities and Benefits

Because CCA VA is recognized by the IRS as a 501 (c)(3) nonprofit organization, your charitable contribution to CCA VA may qualify you to receive a significant tax benefit on your income, gift or estate taxes. Consult with your tax accountant. In addition to making an outright bequest to a charitable cause such as CCA VA in your will, there are other ways to make charitable contributions.

•   You can also make outright gifts to charity during your lifetime.  Your deduction for an outright gift may equal the value of your gift, subject to some limitations which might apply depending upon the type of property gifted and your income level.  You may be able to carry forward any gift amount that exceeds certain of these limits for up to five years.
• You can also make charitable gifts in other ways, such as gifts to charitable lead trusts or charitable remainder trusts.
• By making a gift to a charitable lead trust, in which a charity receives distributions for a certain period of time before the assets transferred to the trust pass to your children (or other heirs), you may be able to pass an appreciating asset to your heirs with little gift or estate tax consequences.
• You could also create a charitable remainder trust, in which noncharitable beneficiaries (such as family members) receive benefits from the trust for a period of time before the charity receives the trust assets.  By using a charitable remainder trust, you may be able to sell, without currently paying capital gains taxes, highly appreciated investments and reinvest all of the sales proceeds to generate income.  Thus, a properly planned gift to a charitable remainder trust might enable you to realign your investment portfolio without incurring any current income taxes.  This could allow you to diversify your holdings and increase your cash flow.

Whatever gifting strategy you choose, planned giving can be very rewarding.  It’s wonderful to see your gift at work and to receive tax benefits as well.  CCA encourages you to talk to your estate/tax advisor to discuss the plan that best fits your needs.