students conduct research in the lab

College Advancement

College Advancement
Phone 757.455.3242
Fax 757.461.4944

 

Planned Giving

Join the more than 130 parents, alumni and friends who have included Virginia Wesleyan College in their estate plans.  As members of the Heritage Society, they are invited to special luncheons and receive special communications from the College.  And their gifts leave a lasting legacy by becoming part of the permanent life of the College.  Gifts and expected gifts now total almost $19 million for the students of tomorrow.

What is planned giving?

Planned giving is arranging now to make a gift later. Often it is done in the form of a bequest or a charitable trust.

Do you have suggested bequest language that I can use?

See Suggested Bequest Language

What are the types of planned gifts?

See deferred gifts

Why is it important to consider a planned gift?

Planned giving is a powerful tool that can work for you. It can help you make larger gifts than you ever dreamed possible. Some planned gifts can provide you with income for life.

A planned gift provides a way for you to help secure your own financial future and the financial future of Virginia Wesleyan College.

Are there tax advantages?

Many types of planned gifts reduce or eliminate capital gains taxes, generate a charitable income tax deduction, and reduce or eliminate gift and estate taxes. They help more of your money go where you really want it.

Who can make a planned gift to Virginia Wesleyan?

Anyone.

What should I do first?

Seek advice from your financial, legal and tax counsel when considering a charitable gift of any type.

Gift planning is unique to each individual or couple. The specific benefits of a planned gift are influenced by a number of variables such as the donor's age, income tax bracket, size of the gift, nature of held assets, etc. Your professional advisors will be familiar with your circumstances.

Whatever you decide to do, the gift you make will be a reflection of your own needs, interests and situations.

What if I know I want to make a planned gift to Virginia Wesleyan?

If you are interested in a personalized planned giving presentation, please feel free to contact Phillip Perdue at 757.455.5709 or email pperdue@vwc.edu

What are some of the main types of planned gifts?

See deferred gifts and outright gifts for some of the many options.

Heritage Society

The Heritage Society recognizes individuals who have arranged a deferred gift to the Heritage Society in any one of the following ways:

  • Bequest in a will or revocable trust
  • Charitable remainder trust or gift annuity
  • Charitable lead trust
  • Naming the College a beneficiary of an IRA, qualified retirement or pension plan, or annuity
  • Remainder interest in a personal residence or farm
  • List of current members
Heritage Society newsletters
Profiles of the impact of planned gifts on our campus

Frank E. Brown
Frank E. Brown died in 1977, but his estate recently became the 3rd largest donor in the history of Virginia Wesleyan College. Upon the passing away of his last surviving designated heir in late 2004, a percentage of his trust came to VWC in the form a of a challenge grant. In order to receive the funds the College had to raise an equivalent amount in new gifts.

In 1977, our portion was projected to be around $700,000. In 2005, it was just over $2 million. The challenge match will increase Annual Fund giving and it will increase the endowment.

Peter and Phyllis Pruden
Peter and Phyllis Pruden of Suffolk included the College in their estate planning. It has resulted in the second largest endowed scholarship at Virginia Wesleyan. The gift of $855,000 created the Peter and Phyllis Pruden Endowed Scholarship. Peter was the owner of Pruden Packing in Suffolk.

Macon and Joan Brock
Joan and Macon Brock pledged $3.3 million to the College. Of that figure, $1 million is a bequest to benefit the Center for the Study of Religious Freedom. The resulting endowment will support the Center's public programs, scholarly publications and efforts to ensure that VWC graduates have the nation's foremost understanding of the issues related to religious freedom. An additional bequest of $200,000 will establish an endowed scholarship.

Frank Blocker
Frank Blocker, former President of EAD, Inc., made a bequest to the College of $900,000. This gift will be used to modernize Blocker Hall, which is one of the most significant classroom buildings on campus, housing both science and humanities. In 1998, Frank made a planned gift of $1.5 million and Blocker Hall was named in his honor.