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VSU Foundation

Frequently Asked Questions

  1. Who can I call about my donation?
  2. How can I donate?
  3. What are the State and Federal tax benefits if I give?
  4. Is my donation tax deductible?
  5. What is an Outright Gift?
  6. What is an In-Kind Gift?
  7. What are the advantages of a Securities Gift?
  8. What are Legacy Gifts?
  9. What is an Endowment?

Who can I call about my donation?

If you have questions about your donation please call (804) 524-5215.

How can I donate?

Donations can be accepted via credit card, fax, mail or online by visiting our gift and donation center. (Clicking on the link will take you to another VSU web site)

What are the State and Federal tax benefits if I give?

If you itemize deductions on your federal income tax return, you may be able to deduct your contribution from your adjusted gross income.  In addition, gifts of appreciated property avoid long term capital gains tax.  Check with your tax advisor for deduction and capital gains tax requirements and limitations for your situation.  Your state may also allow a credit or deduction.

Is my donation tax deductible?

The VSU Foundation is a 501(c)(3) organization; therefore donations are tax deductible.

What is an Outright Gift?

Outright gifts include fund transfers from a credit card, check, cash, or a matching gift from your employer.

What is an In-Kind Gift?

An in-kind gift is a gift of personal property or physical assets.  The University and the Foundation reserve the right to accept or reject a gift of physical assets.

What are the advantages of a Securities Gift?

You may receive the benefit or an income tax deduction based upon the value of the securities at the time you make the gift.  You may be able to avoid capital gains tax on the appreciated value of the securities.  You are advised to check with your tax advisor for deductions and capital gain treatment on all gifts of securities.

What are Legacy Gifts?

Donors who designate legacy gifts immediately become members of the Powell Society which is named for Dr. Clilan and Lena Powell who bequeathed more than $1 million to Virginia State University.  Examples of legacy gifts include bequests from wills, real estate with retained life interest, life insurance, charitable remainder trusts and retirement plan benefits.

What is an Endowment?

An endowment is a gift of money or property with the stipulation that it be invested, and the principle remains intact in perpetuity or for a defined period of time.   The earnings from the principle are used in accordance with the donor's wishes.

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