Leave a legacy that will touch lives for generations to come. A gift to the Catholic Charities of Eastern Virginia Foundation, Inc. will sustain our life-changing mission, inspiring hope and changing lives for future generations.
The Catholic Charities of Eastern Virginia Foundation, Inc. was established in 1997 to ensure that the work of Catholic Charities of Eastern Virginia would be sustained indefinitely. The Foundation provides an opportunity to create a family legacy by establishing a fund or endowment honoring or memorializing your family or loved one(s). These funds and endowments would be created in your family’s name and would sustain the work of Catholic Charities of Eastern Virginia in perpetuity. The Foundation’s assets are managed by a Board of Directors comprised of professionals committed to our mission and with extensive financial knowledge.
The principal benefits of planned gifts accrue to The Catholic Charities of Eastern Virginia Foundation, Inc. at a later time, after your death or the death of your last named beneficiary. Planned gifts take many forms, reducing income and estate taxes, relieving you and your heirs of complicated financial management responsibilities and helping to fulfill your personal, humanitarian and charitable objectives. Planned gifts can be made in cash, real estate, stocks, or life insurance.
Bequests by Will
One of the simplest planned gifts is a bequest through your will in which you designate either a specific dollar amount or a percentage of your estate after other disbursements. In addition to supporting Catholic Charities of Eastern Virginia, it serves as an example to your heirs of the values and ideals you hold dear. A bequest also can reduce the amount of your taxable estate, which may increase the actual amount available to loved ones.
Contributions of life insurance can provide a substantial gift. If you donate a term life policy, you can deduct the cost of the premiums from your taxes. If you donate a whole life policy, you can deduct the cash value of the policy as well as the cost of the premiums.
Establish an Endowment
An endowment is a perpetual gift that can be designated for a specific purpose or program of Catholic Charities of Eastern Virginia. The original gift remains intact, and the income is used toward the designated area of service. An endowment can be established in memory of a loved one that will contribute to Catholic Charities of Eastern Virginia’s work in our community indefinitely.