"When we decided to return to Lynchburg where we first met and lived over 40 years ago we knew we wanted to do our part to support the community. We believe strongly in working with nonprofit organizations, such as The Greater Lynchburg Community Foundation, that are committed to supporting and strengthening those in the region.  Our primary focus is supporting children and families in an effort to help our community flourish, now and in the future."
--Brenda Tanner & Russell James, Legacy Society membersCapture

 

Planned Giving: Create a Legacy of Impact

At the Greater Lynchburg Community Foundation, we believe in the power of philanthropy to shape the future. Planned giving allows you to make a lasting difference in our community while achieving your own financial and charitable goals. Through thoughtful estate planning, you can ensure that your generosity continues to support the causes you care about for generations to come.

The Importance of Planning

Strategic charitable giving not only provides meaningful support to the community, but it also offers financial benefits for you and your loved ones. By incorporating charitable giving into your estate plan, you can:

  • Leave a lasting legacy aligned with your values.
  • Maximize tax advantages for you and your heirs.
  • Ensure continued support for the causes that matter most to you.

Why Choose the Greater Lynchburg Community Foundation?

With decades of experience in charitable stewardship, we are a trusted partner in planned giving. When you choose the Greater Lynchburg Community Foundation, you benefit from:

  • Local Impact – Your gift stays in the community, supporting organizations and initiatives that improve the quality of life in our region.
  • Professional Management – Our experienced team ensures your gift is well-managed and strategically invested for long-term impact.
  • Flexible Giving Options – We work with you and your advisors to customize a plan that aligns with your philanthropic and financial goals.
  • Enduring Legacy – Your generosity will support future generations, ensuring that your values live on through thoughtful giving.

Let Us Know About Your Plans

If you have already included the Greater Lynchburg Community Foundation in your estate plans, we would love to hear from you. Informing us of your planned gift allows us to:

  • Express our gratitude and recognize your generosity.
  • Ensure that we understand and honor your charitable intentions.
  • Welcome you as a member of our Legacy Society, a special group of donors who have committed to strengthening our community for future generations.

Sharing your plans with us also ensures that your gift is used as you intend. Please contact Kathryn Yarzebinski, President & CEO, at kathryn@lynchburgfoundation or 434.845.6500 to let us know about your planned gift or to discuss your giving options.

How Will You Make an Impact?

Your planned gift can be structured in a way that best reflects your philanthropic goals. Through your estate plan, you can:

  • Establish a new fund in your name or in honor of a loved one to support causes important to you.
  • Contribute to an existing fund that aligns with your interests.
  • Make an unrestricted gift, allowing us to address the most pressing needs of the community as they arise.

 

Planned Giving Vehicles

There are a variety of ways to structure your planned gift based on your financial and philanthropic goals:

Bequests

A simple and flexible way to give is by naming the Greater Lynchburg Community Foundation in your will or trust. You can designate a specific dollar amount, a percentage of your estate, or a portion of the remainder. Sample bequest language is available here - simply forward this to your estate planning attorney. 

Retirement Plan Beneficiary Designations

Retirement plans, such as IRAs, 401(k)s, and other qualified accounts, are often subject to both income and estate taxes when passed to heirs. By naming the Greater Lynchburg Community Foundation as a beneficiary of all or a portion of your retirement plan, you can:

  • Reduce or eliminate tax burdens on your estate and heirs.
  • Direct more of your assets toward charitable causes.
  • Leave a lasting impact on the community through a tax-efficient gift.

Changing your beneficiary designation is a simple process that can be completed through your plan administrator without modifying your will.

Life Insurance Policies

You can designate the GLCF as a beneficiary of your life insurance policy or transfer ownership of an existing policy to create a lasting gift.

Charitable Remainder Trusts (CRTs)

CRTs provide income for you or your beneficiaries for a set period, with the remaining assets benefiting the Foundation. This option can offer tax advantages and financial security. 

Charitable Lead Trusts (CLTs)

A CLT allows you to support charitable causes for a period of time while preserving assets for your heirs, reducing potential estate tax burdens.

Real Estate

Real estate can be a valuable charitable gift that supports the community while providing financial benefits to you and your estate. Whether it's a primary residence, vacation home, rental property, farmland, or undeveloped land, donating real estate can:

  • Provide significant tax advantages, including an income tax deduction based on the fair market value of the property.
  • Reduce capital gains tax that would apply if the property were sold.
  • Eliminate maintenance, insurance, and property tax obligations.

We recommend discussing the potential gift with us to ensure it aligns with both your philanthropic goals and our gift acceptance policy. 

Personal Property

Gifts of valuable personal property can also be a meaningful way to support the community.

Donating personal property can provide tax benefits, including a charitable deduction based on the appraised value of the item. However, certain restrictions may apply based on how the asset will be used to further our mission. If you are considering donating personal property, we recommend discussing the potential gift with us to ensure it aligns with both your philanthropic goals and our gift acceptance policy. 

Working with Your Professional Advisors

Planned giving is an important financial decision that should align with your personal circumstances and estate planning goals. We strongly encourage you to consult with your attorney, tax advisor, or financial professional before making any decisions. The Greater Lynchburg Community Foundation is happy to work with you and your advisors to help structure a gift that reflects your philanthropic vision while ensuring compliance with all legal and financial considerations.

Disclaimer: The information provided here is for educational purposes only and should not be considered legal, tax, or financial advice. Please consult your professional advisor to determine the best charitable giving strategy for your individual situation.

 

Start Your Legacy Today

Planned giving is a meaningful way to create a lasting impact. We are here to help you explore your options and craft a charitable giving strategy that reflects your vision.

For more information or to discuss your planned giving options, please contact Kathryn Yarzebinski, President & CEO, at kathryn@lynchburgfoundation or 434.845.6500. Together, we can build a stronger future for our community.