Planned Giving

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Randolph-Macon Academy is privileged to have numerous alumni and friends who make gifts to support the school while planning for their own future. Their generosity commemorates loved ones, celebrates special times at R-MA, or culminates a life's work. The gift plans they use to create their legacies are tax-wise tools that yield significant immediate and long-term benefits.

If you have included the Academy in your estate plans, we sincerely hope you will share those plans with the school. If you have been considering such a step, we hope you will consult with your family and professional advisers. Two of the most common giving vehicles are listed below.

Please contact Jay Smith, Planned Giving Officer, at jsmith@rma.edu or (540) 636-5483 with any questions.

Bequest

Charitable Gift Annuity


Bequest

You designate our organization as the beneficiary of your asset by will, trust, or other instrument.

Benefits of Your Bequest

• Receive estate tax charitable deduction.
• Lessen the burden of taxes on your family.
• Leave a lasting legacy.

How Do You Make a Bequest?

A bequest is one of the easiest gifts to make. With the help of a financial adviser, you can include language in your will or trust specifying a gift to be made to family, friends, or a charity as part of your estate plan.

Your Bequest Options

A bequest may be made in several ways:

• Gift of a percentage of your estate
• Gift of a specific dollar amount or asset
• Gift from the balance or residue of your estate

Making a Bequest of Your Retirement Assets

A retirement asset, such as an IRA account, makes an excellent bequest to us. If the IRA were given to your family, much of the value may be lost through estate and income taxes. By designating R-MA as the beneficiary of all or part of your IRA (using a beneficiary designation form provided by your custodian), the full value of the gift is transferred tax-free at your death and your estate receives an estate tax charitable deduction.

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Charitable Gift Annuity

You transfer your cash or appreciated property to R-MA in exchange for our promise to pay you fixed income (with rates based on your age) for the rest of your life.

How It Works

A charitable gift annuity is a contract between you and our organization.

1. You transfer property to us. In exchange, we pay you fixed income for life.
2. The fixed income can be quite high depending on your age.
3. A portion of your income stream may even be tax-free. You will receive a charitable deduction for your gift and the satisfaction of furthering our mission.

Types of Assets You May Give

• If you decide to fund your gift annuity with cash, a significant portion of the annuity income will be tax-free.
• You may make a gift of your appreciated securities to fund a gift annuity and avoid a portion of the capital gains tax.

Start Receiving Payments Now with a Current Gift Annuity

If you desire current income, you may transfer property in exchange for our promise to pay you fixed income beginning as early as this year. You will receive a current income tax charitable deduction for the value of your gift to R-MA.

Deferred Gift Annuity for Income at Future Date

Perhaps you are not ready to begin receiving income until a future date, such as when you retire. You can establish a deferred gift annuity, receive a current charitable income tax deduction and receive payments at a designated future time. Best of all, because you deferred your payments, your annual payment will be higher than with a current annuity. Contact us about flexible date options for your future income.

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