Published on July 27, 2018

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Gifts of Real Estate

In the right situation, a gift of real estate is an effective way for you to make an extremely meaningful gift to the Foundation without touching your bank account. Gifts of appreciated real estate held longer than one year (similar to gifts of securities) offer tremendous potential tax benefits with a fair market value charitable and no recognition of capital gains tax. Call Craig Stevens, CPA CAP at 540-740-4545 to discuss such a gift.

Keep history alive by calling the National Historic District today! For more information, call our offices at 540-740-4545.

 

The Charitable IRA Rollover

The charitable IRA rollover, or qualified charitable distribution (QCD), is a special provision allowing certain donors to exclude from taxable income — and count toward their required minimum distribution — certain transfers of Individual Retirement Account (IRA) assets that are made directly to public charities, including the Shenandoah Valley Battlefields Foundation.

Since it was first made available in tax year 2006, many donors age 70 1/2 or older have used this popular option to support the areas of their choice with tax-wise gifts ranging from $100 to $100,000.

A charitable IRA rollover makes it easier to use IRA assets, during lifetime, to make charitable gifts.

Under current law, withdrawals from traditional IRAs and certain Roth IRAs are taxed as income, even if they are immediately directed to a charity. The donor receives a tax deduction for his or her donation, but various other federal, and sometimes state, tax rules can prevent the deduction from fully offsetting this taxable income. As a result, many donors have chosen not to use IRA assets for lifetime gifts. The charitable IRA rollover eliminates this problem.

A gift that qualifies, technically termed a “qualified charitable distribution,” is:

  • Made by a donor age 70 1/2 or older
  • Transferred from a traditional or Roth IRA directly to a permissible public charity, such as SVBF (If giving in this manner, please tell your broker or fund manager to name you as the donor on the transfer, and if your gift is intended for a particular area have the broker specify that as well.) Contact Craig Stevens at 540-740-4545 or cstevens@svbf.net for more information.

 

Stocks and Other Securities

A charitable gift of stocks and other securities can be a great way to support the National Historic District and also offer significant tax advantages. If the securities have been held longer than one year, a direct gift to the Foundation would not only yield a fair market value tax deduction, it would avoid capital gains taxes on any appreciation over your cost basis. Securities can be gifted directly to the Foundation through our broker noted below. Please be sure to include contact information with your transmission so we can thank you properly and provide you with appropriate tax receipting. Transferred securities are dated from the settlement date they enter SVBF accounts.

Our Broker is:

Mr. Sandy Von Thelen
BB & T Securities
310 4th St.  NE Suite 100
Charlottesville, VA  22902

Direct Line: 434-971-8567
Toll Free: 800-868-7726

BB& T Securities DTC # 0702
A/C # 7567-3186