There are as many ways for you to help further the mission of FRIENDS of the Blue Ridge Parkway as there are gorgeous vistas on the Parkway. FRIENDS’ work is primarily supported directly through the efforts of individuals, families, businesses and organizations. However, we are also participants in revenue sharing programs where they are available to us and our work benefits from those as well. We encourage you to read over all the options for helping the Blue Ridge Parkway. Our work will not proceed without your help.
After you have made your contribution in memory or in honor, an acknowledgement letter or email will be sent to the person(s) you designate and a tax receipt will be sent to you. We do not specify the amount of the donation unless you request it, and you may customize your message to the recipient. If you need notification of a donation in memory or in honor to arrive more quickly, please choose to donate and send an e-card.Memorial and tribute donations to FRIENDS are fully tax-deductible as provided by law.
Giving appreciated stock or bonds to FRIENDS is usually more advantageous than giving cash. If you give appreciated securities held longer than one year, you can deduct their full fair market value, regardless of what you originally paid for them. Your total deduction is limited to 30 percent of your adjusted gross income in any year, but you can take any unused deduction over five succeeding tax years. And, you pay no capital gains tax on the donated securities! With these tax savings, the actual cost of your gift is less than if you made a cash gift.
The best method of transferring these assets to FRIENDS is to contact your broker and electronically transfer the stock from your account to FRIENDS’ account at Suntrust Bank. Avoid selling the assets and then making a gift of the proceeds, because this will trigger a capital gains liability for you.
Please call the FRIENDS office at 540.772.2992 to talk with someone who can help you with this transaction.
Consult your legal and tax advisors before making any material decisions based on this information.
One of the simplest ways to make a gift to benefit the Blue Ridge Parkway is through your will or living trust. You can name FRIENDS of the Blue Ridge Parkway the direct beneficiary of specific assets, a portion of your estate, or your residual estate after payment of other bequests.
Bequests to FRIENDS of the Blue Ridge Parkway are entirely free from federal estate tax and can, therefore, offer substantial estate tax savings. There is no limit on the amount you can leave to FRIENDS through your will. A bequest to FRIENDS can be a gift of a specific dollar amount, a specific piece of property, a percentage of an estate, or all or part of the residue of an estate. You can also name FRIENDS as a contingent beneficiary if someone named in your will is not longer living at the time of your passing.
If you wish to include FRIENDS of the Blue Ridge Parkway in your will or living trust, please use the following language after stating the nature of the gift: “ … to FRIENDS of the Blue Ridge Parkway, a 501(c)(3) nonprofit corporation, organized and existing under the laws of the State of North Carolina and the Commonwealth of Virginia, whose current principal business address for identification purposes is P.O. Box 20986, Roanoke, Virginia 24018. Tax ID #: 58-1854404.”
The following examples can also be tailored to your interests. Be sure to consult your attorney for assistance in making a bequest.
Unrestricted bequest “I give (_______ dollars) (a specific asset) or (___percent) of the rest, residue and remainder of my estate to FRIENDS of the Blue Ridge Parkway, a 501(c)(3) nonprofit corporation, organized and existing under the laws of the State of North Carolina and the Commonwealth of Virginia, whose current principal business address for identification purposes is P.O. Box 20986, Roanoke, Virginia 24018. Tax ID #: 58-1854404, for its general purposes.”
Bequest for a specific purpose “I give (______dollars) (a specific asset) or (___percent) of the rest, residue and remainder of my estate to FRIENDS of the Blue Ridge Parkway, a 501(c)(3) nonprofit corporation, organized and existing under the laws of the State of North Carolina and the Commonwealth of Virginia, whose current principal business address for identification purposes is P.O. Box 20986, Roanoke, Virginia 24018. Tax ID #: 58-1854404, to be used for the following purpose: (state the purpose).”
NOTE: If you wish to restrict your bequest to a specific purpose or program at FRIENDS of the Blue Ridge Parkway, please contact FRIENDS for personal assistance to make sure the language you use will accomplish your wishes and aligns with the needs of Blue Ridge Parkway and FRIENDS.
If your bequest will be used to establish an endowment fund for a restricted purpose, we urge you and your counsel to consider adding a “saving clause” to your bequest provision. A “saving clause” is a way to ensure the usefulness and relevance of your bequest in the future as the Blue Ridge Parkway’s needs and circumstances change. For example: “If, in the future, it is the opinion of the board of directors of FRIENDS of the Blue Ridge Parkway that all or part of the income of this fund cannot be usefully applied to such purpose, it may be used for any related purpose which, in the sole opinion of the board of directors, will most nearly accomplish my wishes.”
Any type of cash, securities, personal property or real estate can be given through a bequest. FRIENDS can also be named beneficiary of assets which often pass outside a will, such as IRAs, pension plans, life insurance, or assets held in a trust.For more information about the Blue Ridge Parkway Legacy Society and bequests or other planned gifts including charitable gift annuities and charitable trusts, please contact FRIENDS for personal assistance.
To initiate a matching gift, complete your company’s matching gift form and send it along with your gift to FRIENDS. FRIENDS will complete the form, certifying that it has received your gift and that FRIENDS of the Blue Ridge Parkway is eligible to receive matching gifts under your company’s guidelines. We then forward the form to your company. After verifying the eligibility of both the donor and FRIENDS, the company sends a check to FRIENDS.
Each matching program has its own rules. You should check with your employer’s personnel department to see if your gift qualifies for a match.
If you are like most people, you probably will not use all of your retirement assets during your lifetime. Make a gift and help further our mission.
Did you know that 50%-60% of your retirement assets may be taxed if you leave them to your heirs at your death? Another option is to leave your heirs assets that receive a step up in basis (such as real estate and stock) and give the retirement assets to FRIENDS. As a charity, we are not taxed upon receiving an IRA or other retirement plan assets.
Your retirement assets may be transferred to FRIENDS by completing a beneficiary designation form provided by your plan custodian. If you designate FRIENDS as beneficiary, we will benefit from the full value of your gift because your IRA assets will not be taxed at your death. Your estate will benefit from an estate tax charitable deduction for the gift.
There are several ways you can remember the Blue Ridge Parkway through your life insurance policies. You can name FRIENDS as a beneficiary of a new or existing policy. You will continue to own and can make use of the policy during your lifetime. The policy will be included in your taxable estate when you pass away, but your estate will benefit from an estate tax charitable deduction for the value of the gift to us. You can assign FRIENDS of the Blue Ridge Parkway as the owner of a no longer needed paid or partially paid policy. You may also take out a new policy with FRIENDS of the Blue Ridge Parkway as the owner.
Gifts of life insurance policies may be accepted upon review and approval of the FRIENDS of the Blue Ridge Parkway board of directors.
FRIENDS reserves the right to cash in any policy it owns at any time at its sole discretion. Of course, you may designate FRIENDS of the Blue Ridge Parkway as the revocable beneficiary of a life insurance policy at any time. Such a designation will not, however, provide you with any immediate tax benefits.
Here are some of the benefits you may enjoy:
- Avoid paying capital gains tax.
- Receive a charitable income tax deduction.
- Leave a lasting legacy.
Your real property may be gifted to FRIENDS of the Blue Ridge Parkway by executing or signing a deed transferring ownership. You may deed part or all of your real property to FRIENDS. Your gift’s value will generally be based on the property’s fair market value, which must be established by an independent appraisal.
Please please contact FRIENDS if the property you wish to give has existing debt or a mortgage.
To shop at AmazonSmile, simply go to smile.amazon.com on your computer or mobile device and log in. Amazon will ask you which charitable organization you wish to support – you can type in FRIENDS of the Blue Ridge Parkway, select us and from that point on when you shop at Amazon through this portal a portion of the proceeds will automatically go to FRIENDS to help the Blue Ridge Parkway.Virginia DMV website.