A planned gift to BHC ensures housing affordability now and in the future. While considering a legacy gift might seem daunting, uncomfortable, and complex, there are many easy ways you can leave a lasting impact on your community that benefits both you and BHC. If you have already included a bequest for the Better Housing Coalition in your estate plan, please let us know. We would like to thank and recognize you for your generous gift
Contact Anne Hurt, Director of Fund Development if you’d like to talk about any of these options:
Make A Bequest:
Include BHC in your will or trust through a bequest. Bequests are exempt from federal estate taxes. If you have a taxable estate, the estate tax charitable deduction may offset or eliminate estate taxes, resulting in a larger inheritance for your heirs. Here is some sample language:
I hereby give, devise, and bequeath _________ and No/100 dollars ($DOLLARS) to the Better Housing Coalition, a not-for-profit corporation located in Richmond, Virginia, for the organization’s general use and purpose.
I hereby give, devise, and bequeath ____ percent (___%) of my total estate, determined as of the date of my death, to the Better Housing Coalition, a not-for-profit corporation located in Richmond, VA, for the organization’s general use and purpose.
Beneficiary Designations:
Changing beneficiary designations is a straightforward process that involves minimal complexity. It also provides several tax advantages, making it an attractive option for those looking to simplify their estate planning and maximize the financial benefits for their beneficiaries.
Life insurance policy
Designate BHC as the beneficiary on your life insurance policy. Donating a life insurance policy enables an individual to make a more substantial one-time contribution than they might be able to with cash from their estate. Additionally, it can lower their taxable estate, resulting in potential savings on estate taxes.
IRAs
Designate BHC as the beneficiary of one or more of your retirement accounts. Neither you, your heirs, nor your estate will owe income taxes on the distribution.
IRA Required Minimum Distribution/Qualified Charitable Distribution
For those over 70 1/2 years of age, Qualified Charitable Distributions (QCDs) are a tax advantageous way to support a charity of your choice. QCDs are donations through an individual’s IRA that are not subject to income tax but reduce your annual taxable income. With up to a maximum gift amount of $105,000, QCDs are a great way to give and make a huge difference at BHC.
Donor Advised Funds
A donor advised fund, or DAF, is a charitable investment account that allows individuals to gift to charities in a tax advantageous way. DAFs are managed by community foundations or financial institutions such as Fidelity, Schwab, and Vanguard. An individual can name BHC as the beneficiary of their DAF for years to come to ensure their philanthropic priorities continue.
Contact Us
Please email Anne Hurt, Director of Fund Development or call (804) 533-2905 if you have any questions about how to make a bequest to the Better Housing Coalition, or to request additional information that might be helpful to you and your attorney as you consider making a bequest to us.
There are many ways to leave a mark on your community. If you are considering making a bequest to BHC, please consult your attorney, who can help you include a bequest to the Better Housing Coalition in your estate plan.
Better Housing Coalition is tax-exempt under 501 (c)(3) of the Internal Revenue Code.
The Federal Tax ID # for the Better Housing Coalition is: 54-1479059.