Gift Planning: Investing in the Future of the University

A growing number of alumni and friends support the University of Virginia through financial or estate planning. This process is known as “gift planning” and the gifts are referred to as “planned gifts.” Planned gifts may be of three types:

  1. Plans from your estate (bequests)
  2. Plans that pay you an income
  3. Plans that help the University now and your family later

IRA Charitable Rollover Restored through 2013

If you have reached age 70½, you may make a tax-free gift up to $100,000 from your individual retirement account directly to the University of Virginia (or any other qualified charity). Your gift can count toward your IRA’s required minimum distribution (RMD) and the funds will not be treated as federal taxable income. This giving option is possible again thanks to the American Taxpayer Relief Act (ATRA) of 2012, passed on New Year’s Day 2013. Look for it to expire again on December 31, 2013.
Find out what you need to know.

If You Are a Personal Representative, Executor, Trustee or Associated Professional

Settling the estate of a family member, friend, colleague or client can be a challenging task. If you are responsible for administering a bequest or other estate gift to benefit the University, or a specific University school or program, please contact Doug McCartney in the Office of Gift Planning. Doug can provide whatever information or assistance you may need to ensure that our donor’s intentions are honored.

To contact Doug, call 434-924-3030 (direct) or e-mail, dougmccartney@virginia.edu.

To send correspondence or documents, see below:

Regular Mail
Douglas W. McCartney, J.D.
UVa Office of Gift Planning
P.O. Box 400807
Charlottesville, VA 22904-48007		 Express Mail
Douglas W. McCartney, J.D.
UVa Office of Gift Planning
400 Ray C. Hunt Drive
Charlottesville, VA 22903

Bequest Campaign

Private gifts, including bequests, have sustained the University since its inception. As early as 1817, forward-looking donors helped fund construction of the public university. Thomas Jefferson bequeathed to the University library some of his books after selling the bulk of his personal library — more than 6,000 volumes — to the Library of Congress in 1814 to replace its collection, which had burned during the War of 1812.

In recognition of the importance of bequests, the University has added a $400 million bequest goal to the $3 billion campaign. As of November 30, 2012, future commitments are at $374.7 million, or 93.7% of goal.