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Endowment Fund

Building on Our Strengths and Preparing for the Future

In 1943 the United Way-Thomas Jefferson Area was founded by the Charlottesville Regional Chamber of Commerce to meet the charitable needs of the community.  We have helped generations of children realize their potential, strengthened families, and provided access to health care for many.

To build on our strengths and prepare for the future, our United Way has established an Endowment Fund, with the goal that every dollar donated to our annual campaign be used to support local programs. A $10 million, permanent endowment will provide a stable financial base for our organization, while allowing us to maximize the resources we direct to local citizens.

Supporting an endowment for operations requires foresight and vision - and it's a rare opportunity to make a lasting difference. Making a leadership gift to our United Way's Endowment Fund is an opportunity to give back to this community in a way that will matter as much fifty years from now as it does today.

Ultimately, it's your opportunity to say to the world, "This is the community that I have chosen to call my own."

Considering a donation to the United Way-Thomas Jefferson Area Endowment? The United Way accepts cash, real estate, land, stocks, bequests, and other gifts to the Endowment Fund. For more informtion on these types of gifts, please see the descriptions further down this page. If you are interested in making such a gift to the endowment fund or would like more information about doing so, please contact:

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President United Way-Thomas Jefferson Area
806 East High Street
Charlottesville, VA 22902 
Phone: 434.972.1701
Fax: 434.972.1719

 

Information for donors:

United Way-Thomas Jefferson Area. 806 East High Street, Charlottesville, VA 22902.

Founded June 14, 1943. Tax ID#540505882.

Leave a Legacy

These descriptions are meant to provide some basic information about planned giving. If you are considering a gift of this nature, we would be delighted to discuss your options. However, we strongly encourage you to contact your attorney or financial advisor first to obtain information about how planned giving will affect your specific financial situation.

 

Planned Giving Categories

There are two categories of planned gifts:

     Revocable Gifts

These are the most common form of planned gift. Donors can "revoke" the gift if charitable interests or personal circumstances change. Since donors have the right to withdraw the gift during their lifetime, there is no income tax deduction available. Typical forms of revocable gifts include charitable bequests in a will or living trust; revocable trusts; and various bank accounts where the individual names United Way to receive what remains in their account at death.

     Irrevocable Gifts

This gift cannot be revoked by the donor. Examples would include cash, securities and real estate. Irrevocable gifts may be made directly to the United Way or placed in a charitable remainder trust. Since the donor gives up the asset, an income tax deduction is provided for this type of gift.

 

Planned Giving Vehicles

There are various ways people can make planned gifts to United Way.

     Outright Gifts

Cash, stock, real estate, securities, and other property.

     Bequests

Gifts made through a will or living trust. In general, a bequest can name the United Way for a specific amount, a percentage of the estate, the residual left in the estate after completing the provisions for family and others, and a bequest contingent on specific circumstances named by the donor.

     Live Income Gifts

These gifts provide donors or a beneficiary named by the donor with an income for a specified period.

     Charitable Remainder Trusts (CRT)

The donor gifts an asset to a charitable remainder trust. The trust pays an annual income, typically to the donor, for a specified period. For example, the period may be for the life of the donor or a fixed number of years. When the term of the trust ends, what remains is given to the United Way, hence the name "charitable remainder trust".

     Unitrust

A form of CRT which pays the beneficiary a fixed percent of the trust assets revalued each year.

     Annuity Trust

A CRT which pays the beneficiary a fixed amount determined when the trust was established.

     Charitable Gift Annuity

The donor makes a gift to the United Way in return for a guarantee to receive a life-time annuity payment from the United Way.

     Charitable Lead Trust

The donor transfers a gift to a trust. The United Way receives an immediate benefit by receiving annual payments from the trust. At the end of the trust, what remains goes to the non- charitable beneficiary named by the donor, typically grandchildren.

     Pooled Income Fund

Some call this a charitable remainder trust for multiple donors. A donor makes a gift to the fund which is pooled with other donors. The donor receives an annual income based upon their "share" of the fund. When the donor dies, their "share" is severed from the fund and given to the United Way. The fund continues to pay out an income to the remaining donors and is able to accept additional contributions.

     Life Estate Agreement

Under this plan, a donor transfers the ownership of their home or family farm to the United Way. However, the donor retains the right to live on the property, receive all income and control the property for the remainder of their lifetime.