Payment Options
Giving to VCOM is easy. Gifts to the College can be made by cash, check, credit card, securities and appreciated asset transfers, electronic withdrawal or direct debit.
Cash
When you make a cash contribution, your gift will make an immediate impact. The easiest, most direct way to make a gift is online. You can also mail a check made payable to VCOM, to:
Edward Via College of Osteopathic Medicine
Office of Development and Alumni Relations
2265 Kraft Drive
Blacksburg, VA 24060
Stock or Securities
A gift of stock or securities (stock, bonds, mutual funds) typically involves publicly traded shares, such as those traded on the major exchanges and over the counter, as well as most mutual funds. Gifts of restricted stock and privately held stock, though more complex, are also possible.
Your gift of securities can provide you with significant tax and financial benefits, such as bypassing capital gains taxes and providing a valuable income tax deduction – both of which effectively reduce the cost of making your gift.
To coordinate any gift of securities, please contact the Office of Development and Alumni Relations at 540-231-7189.
Charitable IRA Rollovers
Under recent federal legislation, you can use your Individual Retirement Account (IRA) to make a gift to your favorite charitable institutions, including the Edward Via College of Osteopathic Medicine.
Individuals age 70 ½ and older can now instruct their IRA administrators to make a distribution directly to VCOM and exclude the amount of the gift from their gross income for federal tax purposes.
By making an IRA charitable rollover, you can:
- Satisfy your required minimum distribution
- Avoid federal and, in many cases, state income taxes
- Provide critical support to the BC department, school, or initiative of your choice
Maximize your 2016 charitable gift—and create an immediate and tangible impact at VCOM.
To be eligible:
- You must be 70½ years of age or older at time of distribution
- Total charitable gifts cannot exceed $100,000 per taxpayer each year
- Transfers from traditional and Roth IRAs must be made directly from the account administrator to VCOM
To make a gift:
- Contact your IRA administrator to request that a charitable distribution be transferred to VCOM
- To ensure gifts are properly recognized and recorded, instruct your IRA administrator to indicate the donor’s name on the check and specify that the gift is an IRA charitable distribution
Send your check to:
Edward Via College of Osteopathic Medicine
Office of College Development and Alumni Relations
2265 Kraft Drive
Blacksburg, Virginia 24060
VCOM’s Tax ID: 54-2052107
- To assist donors interested in making a charitable gift from their IRA, we have provided the following example: Sample Request from Plan Owner or Representative to IRA Administrator (PDF)
Matching Gifts
Many employers sponsor programs that match charitable contributions made by their employees, allowing you to double or even triple the value of your gift. Find out if your employer matches gifts.
Real Estate
Many types of real estate, including personal residences, farms, undeveloped land, and commercial properties, can be used to make a gift to VCOM.
Donors of real estate receive an income tax deduction and avoid capital gains tax. In addition, your outright gift of real estate typically avoids maintenance costs, property taxes, insurance, and other on-going expenses.
The first step in making a gift of real estate to VCOM is to contact the Office of College Development and Alumni Relations. We can help you with required forms which include, at a minimum, an appraisal, environmental review, and deed.
Gifts In-Kind
VCOM benefits from a surprising range of gifts of tangible personal property and gifts-in-kind such as artwork, architectural drawings, collectibles, books, supplies, and numerous other items, many of which would otherwise have required the donor to provide costly or time-consuming care and management.
Both the value to the college and your potential tax benefits depend upon the use of the gift.
Related use: If your gift qualifies as "related use" – that is, if it will be used by the College to accomplish its mission – you can deduct the property's full fair market value.
Unrelated use: For tangible personal property gifts with "unrelated use," the donor can typically deduct the lesser of the cost basis (usually the purchase price paid by the donor for the property), or the fair market value.
To learn more about donating tangible personal property and gifts-in-kind, contact the development office at 540-231-7189.
Planned Giving and The Legacy Society
By including the College in your estate plans, you can benefit from your assets during your lifetime and still make a lasting impact on the VCOM’s future. Plan your gift by naming the Edward Via College of Osteopathic Medicine (VCOM) as a beneficiary of bequests, charitable trusts, IRA or retirement plan, life insurance policies and retained life estates.
The Legacy Society also honors those who support the College through a planned gift.
For more information see Legacy Society
Lead Trusts
Assets can stay in the family while your gift reduces estate taxes and supports VCOM.
Life Income Gifts
Gifts of appreciated property can generate income for you with positive tax benefits such as a charitable annuity or unitrust.
Life Insurance
Designate VCOM as a beneficiary of a paid-up policy or a new policy and help the college’s future endowment, and get a tax deduction.
Retained Life Estate
You retain occupancy of your property for life, but give your primary or vacation home or farm to VCOM for future benefit.
Retirement Plan
Name VCOM as a beneficiary of your IRA, 401(k) or other qualified plan. Your plan administrator can provide you with the necessary documents to designate VCOM to receive a portion or all of your plan.
IRA Charitable Rollover
Contact your plan administrator to request a distribution from your IRA account to VCOM under the Charitable Rollover provision (contact the development office for sample language).
Corporate and Foundation Relations
The College Development Office is dedicated to developing mutually beneficial partnerships with corporations and foundations to maximize support for VCOM’s academic, research and outreach programs.
For the College community, the Development Office maximizes opportunities to develop relationships with corporations and foundations. The department assists faculty and staff in transforming innovative ideas into fundable projects that connect with prospective partners. This department also coordinates alliances with key constituents to promote University priorities.
The Development Office offers corporations and foundations a coordinated, high–level point of engagement for working with the College. This department focuses on aligning College strengths with the goals of corporate and foundation partners to maximize the impact of partnerships and philanthropic investments.
Endowed Gifts and Scholarships
Endowment gifts are the most long-lasting gifts anyone can make to VCOM. Learn about the giving levels necessary to fund chairs, professorships, program endowments and scholarships.
For more information see Endowed Gifts and Scholarships
Capital Naming Opportunities
The Edward Via College of Osteopathic Medicine (VCOM) offers many ways to support medical education by naming a space in one of its many academic, research or administrative buildings.
For more information see Examples of Capital Naming Opportunities
Non-Endowed Scholarship Funds
Non-endowed scholarships play an important role at the Edward Via College of Osteopathic Medicine. Unlike endowed scholarships, contributions made to non-endowed scholarship funds are distributed in the same year that they are received.
Non-endowed scholarship funds are an ideal option for those who want to support VCOM students but do not have the goal of having an award for perpetuity. Non-endowed scholarship funds are also a great alternative for those who might have excess funds available each year but who do not have the full endowment minimum or for those who have a lump sum to contribute and would like to provide for an award for a certain number of years.
