HOW YOU CAN MAKE A TAX DEDUCTIBLE GIFT
TO SUPPORT LUTHERAN FAMILY SERVICES OF VIRGINIA

Nothing can be more satisfying than leaving a mark on an institution that has a history of serving children and families with special needs.  We invite you to review the following ways that you can help by making an investment in Virginia’s at-risk youth and families.  Your support is more important and appreciated!

OUTRIGHT GIFTS

GIFTS OF CASH
Gifts of cash are the most common and often the simplest to make.  Checks should be made payable to Lutheran Family Services of Virginia. 

GIFTS OF SECURITIES
Gifts of appreciated stocks, bonds, or mutual funds can provide special tax advantages.  These include a charitable deduction for the full fair market value of the gift and avoidance of capital gains taxes. 

GIFTS OF REAL ESTATE
Gifts of homes, farms, and other real property can receive the same tax treatment as gifts of appreciated securities.  If property has appreciated over time, its sale may result in a substantial amount of capital gains taxes being due.  If debt-free property is donated, the donor receives a deduction for the appraised value.  We encourage real estate gifts that are not subject to liens or restrictions that may affect their market value.  We usually liquidate such gifts.  

MEMORIAL OR TRIBUTE GIFTS
Any gift may be designated in memory or honor of a friend or loved one.  The family of the deceased or person honored will be notified of such gifts.  

GIFTS-IN-KIND
Another way to support Lutheran Family Services of Virginia is through gifts of tangible personal property.  When a gift relates to the “charitable purpose” of Minnick, which is usually very broad for educational institutions, the donor may be eligible for a deduction of the full market value.  The donor must stipulate the value of gifts-in-kind.  Examples of gifts-in-kind include special library collections, furnishings, computer equipment, gym equipment, etc.  

CORPORATE MATCHING GIFTS
You may be able to multiply the value of your gift by participating in a matching gift program provided through an employer or board membership.  Your employer’s personnel office can provide you information and forms to take advantage of this unique leveraging opportunity.  Gifts from retirees and spouses may also qualify for a match.

PLANNED OR DEFERRED GIFTS

BEQUESTS BY WILL OR LIVING TRUST
The most common form of deferred or planned gift is a charitable bequest.  A will or living trust is a very personal matter and should be prepared with an attorney.

NEW OPPORTUNITIES FOR CHARITABLE CONTRIBUTIONS
Click here to learn about a New Pension Law allowing tax-free donations to charities.

LIFE INCOME GIFTS
Numerous tax and financial benefits may be realized with a life income gift such as a charitable gift annuity or charitable remainder trust.  The donor makes an irrevocable gift of cash, securities or property and receives income (may include another beneficiary, such as a spouse) for either life or a specified term of years.  When the specified period ends, the remainder goes to support LFSV 

CHARITABLE LEAD TRUSTS
This type of charitable trust would pay LFSV a fixed amount or percentage of an asset for a term of years.  Thereafter, the assets are passed on to loved ones, and applicable estate, gift, and generation skipping taxes on the trust assets may be significantly reduced.

GIFTS OF LIFE INSURANCE
You may want to consider naming LFSV as beneficiary of a life insurance policy.  If Minnick is named both the sole owner and the beneficiary, the contributor is eligible to receive an immediate charitable deduction for the policy’s fair market value or the net premiums paid, whichever is less.  Additional premiums paid may also be tax deductible.

RETIREMENT PLAN GIFTS
Designation of LFSV as primary or contingent (after a spouse) beneficiary of a private pension fund (e.g., IRA, SEP, 401(k), profit sharing plan) can result in the most “tax wise” testamentary gift possible.  Retirement accounts are subject to taxes that other estate assets may avoid.  Simply designate Minnick Education Center as beneficiary on your plan’s “Beneficiary Designation” form.  

RETAINED LIFE ESTATE
You may generate a current income tax deduction by giving a home or farm to LFSV while retaining the right to occupy, rent, or otherwise use the property during your lifetime.  The property will also be removed from your taxable estate. 

DEDUCTIBILITY

 Lutheran Family Services is a qualified charitable organization and meets the standards and requirements of Internal Revenue Code Section 501(c) (3).  All contributions are deductible for federal income tax purposes (subject to statutory limitations) and for federal estate and gift tax purposes. 

 Gifts of cash (or your election to deduct only the cost basis of an appreciated asset) may be deducted up to 50 percent of adjusted gross income (AGI) in a year. Gifts of appreciated real or personal property may be deducted up to 30 percent of AGI.  Excess deductions may be carried over for up to five additional years. 

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