Whether supported through an outright gift or legacy gift, all Vail Valley Foundation programs are made possible through the generosity and commitment of people like you. A legacy gift, otherwise known as a planned gift, to the Foundation may benefit both the Foundation and you. It helps to ensure the future of the programs we provide in the Vail Valley and may help further your financial goals.
Support from individuals is at the core of our ability to provide athletic, educational and cultural initiatives over the decades. Your generosity makes all the difference in our success.
Planned giving is a way for passionate donors of varying financial circumstances to make charitable gifts, continue to meet current income needs and take advantage of incentives available under current tax laws. Depending on the asset given and the gift arrangement selected, you can expect to experience some or all of the following benefits:
Most importantly, your gift leaves your legacy and helps secure the Vail Valley Foundation for future generations. With your legal and tax advisors, we can help you plan for tomorrow and receive maximum benefits today, while immediately benefiting the Vail Valley Foundation.
We encourage you to contact Matt Spencer at 970.949.1999 to discuss these and other giving options. Thank you for your interest, your vision, and for considering an investment in the future of the Vail Valley.
TYPES OF PLANNED GIFTS TO CONSIDER: | |
| Legacy or planned gifts include gifts through your will, charitable gift annuities, gifts of life insurance, pooled income funds and charitable trusts. | |
| Bequest | One of the simplest ways to make a gift is through your will, by designating a gift or portion of your estate to the Vail Valley Foundation. A bequest can be designated to any of the Foundation’s existing endowment funds, used for establishment of a new endowment fund, or earmarked for immediate programming. |
| Charitable Remainder Trust | A true life income gift, the CRT allows you to transfer assets to the Foundation now, while receiving annual income from the asset during your lifetime (or that of another named beneficiary). A CRT increases your income for life, gives you a charitable deduction now and if you contribute stock, allows you to avoid capital gains on the appreciation. |
| Charitable Gift Annuities | A charitable gift annuity is a contract between you and The Vail Valley Foundation whereby you transfer cash, securities, or other assets to us and, in exchange, we agree to pay you and/or another beneficiary a guaranteed fixed income for life. The annuity paid to you is based upon the rates established for your age by the American Council on Gift Annuities. A charitable gift annuity is particularly attractive because the rates typically produce higher income than the yields from investments in the stock and bond markets. You receive a current income tax deduction equal to a large portion of your gift, and a portion of the income you receive is non-taxable. If your gift annuity is funded with long-term appreciated property, capital gains tax is avoided on the part of the property that is considered a gift and the rest of the capital gain will be spread over a number of years and figured into the taxable portion of your annuity. |
| Life Estate Arrangements | When you make a gift of your home or vacation home now, you can retain the security of knowing you may live there as long as you wish and have the satisfaction of making a significant gift, while receiving a current tax deduction. You continue to care for the property, pay the taxes, and even receive any income it generates. Upon your death, the property passes to the Vail Valley Foundation without passing through your probate estate, thereby saving unnecessary expenses and delays. |
| Retirement Plan Gifts | You may have accumulated funds in your company pension plan, Individual Retirement Account (IRA), or other private fund, which are beyond your needs or potentially subject to the federal excise tax on over-funded retirement plans. It may be convenient and tax wise in such a case to make a current or future charitable gift from those accounts. |
| Life Insurance Gifts | A simple way to make a significant future gift is to name The Vail Valley Foundation as the beneficiary to receive all or a portion of the proceeds of a life insurance policy no longer needed for its original purpose, or to purchase a new policy for the benefit of the Foundation. The tax deduction for this type of gift depends on a number of factors, including how the gift is made and the laws of your state. |
| Gifts of Appreciated Stock | Many people own stocks, which have greatly increased in value since their purchase. By using these stocks for some of your charitable giving, you can conserve cash for other uses and maximize the value of your charitable gifts. You can deduct the fair market value of qualified non-cash property and you pay no capital gains tax on gifts of long-term appreciated property (held for at least a year and a day.) This can dramatically reduce the cost of making a charitable gift or increase the amount you can afford to give. Because your needs and values are unique, the Vail Valley Foundation will work with you individually to create a giving opportunity that is the right fit for you, your family or company. Your legacy gifts can be directed to a specific Foundation endowment, including support of the Vilar Center for the Arts, the Gerald Ford Amphitheatre, the Foundation education initiatives or to build overall capacity for the Foundation. |
