We’re kicking off the Annual Giving Campaign. Click here for more information.

Giving

Contributions to the RCC Educational Foundation help break down the barriers our students face in completing a degree or certificate and improving the quality of life for themselves and their families.

Planned Giving

You can name the RCC Educational Foundation as:

  • a beneficiary of a trust
  • a beneficiary of a life insurance policy
  • a beneficiary of your IRA or other retirement plan
  • a joint owner of your certificates of deposit

Skillful use of current or deferred charitable gift plans makes it possible to reduce the cost of passing property to others. Through creative planned gifts you may protect your own financial security and economic freedom, provide income for your survivors (securing their economic future), avoid probate, and receive significant tax benefits.

Life insurance provides an excellent vehicle for making a gift. Life insurance gifts can be made by contributing a current policy (which can be used for a charitable income tax deduction) or by purchasing a new policy. The donor can name RCC as beneficiary, or transfer total ownership of the policy and make deductible gifts to pay for premiums.

Tax laws encourage donations of meaningful gifts that at the same time continue to receive income from contributed assets. These gifts are known as charitable remainder trusts, gift annuities, and pooled income funds. These contributions can be structured to achieve the following personal goals:

  • Provide a growing retirement income
  • Act as a charitable IRA to build retirement savings
  • Produce a fixed and guaranteed return in uncertain financial times
  • Help send children or grandchildren to school or college

These gifts are called “deferred” because while they produce immediate tax saving and income benefits to the donor, the underlying assets are not available for charitable purposes until the trust ends.

Consult with your attorney or financial advisor for the various tax benefits and restrictions that may apply to your specific situation. We are always available to answer questions about planned gifts to the RCC Educational Foundation. Contact: Sarah Pope, RCC EFI Executive Director at 804-333-6705 or spope@rapphannock.edu.