Stock Donation Notification

Sample Language

Unrestricted Bequest

An unrestricted gift allows The Up Center to use the funds where they are needed most.

“I give to Child & Family Services of Eastern Virginia, Inc., doing business as The Up Center, a Virginia nonprofit corporation currently located at 580 E. Main Street, Suite 400, Norfolk, VA 23510, or its successor, __________ [written amount, percentage of the estate, or description of property], to be used for its general charitable purposes.”

Bequest for a Specific Purpose

You may also direct your gift toward a particular program, service area, or purpose.

“I give to Child & Family Services of Eastern Virginia, Inc., doing business as The Up Center, a Virginia nonprofit corporation currently located at 580 E. Main Street, Suite 400, Norfolk, VA 23510, or its successor, __________ [written amount, percentage of the estate, or description of property].

I request that this gift be used for __________ [state the intended purpose] for as long as The Up Center determines that the need exists.

If The Up Center determines that the stated need no longer exists, or that using the gift as originally intended is no longer possible or practical, The Up Center may direct the gift toward a charitable purpose that most closely reflects my original intent.”

The Up Center’s EIN: 54-0674774

We recommend consulting an attorney or financial advisor when including a charitable gift in your estate plans.

Charitable Trusts

A charitable remainder trust — in the form of either a charitable remainder unitrust or a charitable remainder annuity trust — is a charitable giving plan that creates a lifetime income stream for you and your designated beneficiaries, while making a generous gift to The Up Center from the remainder of the donated assets. The payments you received may continue for the lifetimes of the beneficiaries you name, a fixed term of not more than 20 years, or a combination of the two.

With a charitable remainder unitrust (CRUT), your beneficiaries receive a fixed percentage of the unitrust’s current value, as revalued annually, and additional contributions can be made into the fund can be made; whereas with a charitable remainder annuity trust (CRAT), your beneficiaries receive a fixed dollar amount each year, and additional contributions on top of your initial gift are not allowed. For both, no tax is payable by the trust at the time investment gains are realized, either when funding the trust or after, making it possible to enjoy increased income over time based on tax-free growth within the trust.

Beneficiary Designations

Another popular option for making a future gift is to name The Up Center as a beneficiary of your life insurance policy, bank account, brokerage account or retirement account. Whether you would like to designate The Up Center to receive a partial or full amount of these assets, updating your beneficiaries is as simple as contacting your plan administrator or account manager.

Assets such as retirement accounts are subject to income tax, and potentially estate tax, when left to individuals. However, because we are a recognized nonprofit organization, The Up Center is exempt from any tax burden when designated as the beneficiary, meaning your generosity can go even further.

Bequests

A bequest, or a gift made through your will or trust, is an easy and flexible way to make a planned gift. Bequests are a particularly meaningful way to help The Up Center plan for the future while protecting your assets during your lifetime.

An unrestricted bequest allows The Up Center to direct your legacy to the area with most need and sustain everyday operations. Unrestricted bequests are invested in our general endowment fund, where the annual earnings perpetually support our educational mission.

Restricted bequests can be designated to benefit one or more permanent endowment funds that have already been established by The Up Center to support specific programs and services. If no permanent endowment fund meets the desired purpose of your bequest, you may choose to create a new restricted or named endowment fund. Our staff in Gift Planning would be happy to discuss your options with you to ensure that your intentions are fulfilled as stated.

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Details

Organizer

Venue

Unrestricted Bequest

Bequest for a Specific Purpose

Emotional Readiness

Motivation & Expectations

Stability & Support

Parenting Capacity

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