The Educational Foundation provides many ways to give to PVCC and also benefit from the tax advantages associated with charitable giving. The Educational Foundation is a 501(c)(3) organization.
Gifts to the PVCC annual fund help support the areas of greatest need. Your unrestricted gift to the annual fund benefits PVCC students, academic programs and services, scholarship funds and operating and capital expenses. With a restricted gift, you may choose to support an initiative that matters to you. For example, a gift may be designated to fund a specific academic program or to purchase equipment.
A gift of long-term appreciated securities has two major advantages: (1) it provides the donor with an immediate income tax deduction and (2) eliminates capital gains taxes to the extent allowed by tax law.
Arts Events Sponsor
With the facilities available in the V. Earl Dickinson Building, PVCC provides an annual series of visual and performing arts programs for students and the community at large. If you are interested in joining the growing number of businesses and organizations that underwrite these events, please contact the PVCC Educational Foundation.
Providing for PVCC in a will allows for a substantial contribution without diminishing assets during the donor's lifetime. Since such bequests are deductible from the estate, significant tax savings are possible.
Charitable Lead Trusts
A Charitable Lead Trust is income paid to the PVCC Educational Foundation each year during the life of the trust. When the trust terminates, the assets revert to the donor or another beneficiary.
Charitable Remainder Trusts
A Charitable Remainder Trust is a tax-exempt, irrevocable trust designed to reduce the taxable income of the donor by first dispersing income to the beneficiaries of the trust for a specified period of time and then donating the remainder of the trust to the designated charity, such as the PVCC Educational Foundation.
Closely Held Stock
By contributing closely held stock to the PVCC Educational Foundation, you may receive a current income tax deduction for the fair market value of the stock as well as elimination of capital gains taxes on the appreciated value.
By giving PVCC tangible personal property, such as artwork, rare books or antiques, you may receive desirable charitable tax deductions. The allowable deduction depends upon an appraisal.
The gift of a life insurance policy to PVCC provides the donor with a charitable contribution for the present cash surrender value; premiums paid after the transfers are also tax-deductible.
It is not uncommon for companies to double or even triple the value of an employee's charitable contribution to the PVCC Educational Foundation. If your employer matches gifts, contact your personnel office to obtain the necessary forms. A list of companies in Virginia that provide matching gifts is here.
Memorials and Tributes
Many donors choose to make a gift to PVCC to honor a family member, friend, colleague or community leader - someone who has made a difference in your life or in the life of our community. Many people also make gifts to commemorate a business or a special occasion.
Gifts designated for the PVCC Educational Foundation in a will, estate plan, life insurance policy or other vehicle will guarantee support for the future. Planned gifts have specific tax advantages and maximize your giving potential.
Donors may also choose to make a pledge of intent to give to PVCC. Some donors fulfill their pledges immediately, while others complete their gift pledges by making regular annual payments over a specific time period.
You may give a residence, land or other real property to PVCC as an outright gift or with the right to occupy the property for life. A gift of a remainder interest in a personal residence or farm provides a current income tax deduction for the present value of the remainder interest. It also permits the donor to eliminate capital gains taxes on the appreciation.
Yearly gifts of $500 or more will create a named scholarship which is renewable each year. Donors may work with the PVCC Educational Foundation to establish criteria for the scholarship, such as designating a scholarship to students in a particular area of study. Many individuals, organizations and businesses have created annual scholarships as memorials or tributes to others. Donors are invited to the PVCC's Annual Academic and Leadership Awards Convocation to meet their scholarship recipients.
With gifts of $50,000 or more, donors may establish an endowment to create a permanent named scholarship. Only the annual interest income generated by the endowment is used for annual scholarships, allowing the fund to benefit students in perpetuity. Donors may work with the PVCC Educational Foundation to establish criteria for the scholarship, such as designating a scholarship to students in a particular area of study. Many individuals, organizations and businesses have created endowed scholarships as memorials or tributes to others.
Donors are encouraged to consult with their financial advisor or tax attorney for guidance on stocks, planned giving, real estate and other kinds of gifts.