JOIN / GIVE
Join the Legacy Society of Virginia MOCA and ensure the continuation of world-class exhibitions and educational programs for generations to come. A contribution of a planned gift is a testament to the cultural value Virginia MOCA brings to our greater community and a commitment to the Museum’s future.
Members and friends may support Virginia MOCA in many ways. The most common forms of giving are outright gifts of cash and securities, but other types of assets may be donated as well. Planned giving options have favorable financial and tax benefits.
We would be pleased to work with you, your attorney, and/or financial advisor to formulate a gift that best meets your charitable goal. Planned giving requires careful consideration and evaluation of options. Before making a gift to the Museum, you should consult with your financial, tax, and legal advisors for a thorough analysis of your situation and the tax consequences and decide which of these ways of giving might work best for you.
There are several ways to make a bequest to Virginia MOCA.
Name the “Virginia Museum of Contemporary Art” as the beneficiary in your will or trust. This is the simplest method for charitable giving through your estate and may be done by designating a specific dollar amount or as a percentage of your estate.
Name the “Virginia Museum of Contemporary Art” as a remainder beneficiary in your will or trust to receive assets after all other bequests, taxes, and expenses have been satisfied.
BY LIFE INSURANCE
Name the “Virginia Museum of Contemporary Art” as the beneficiary and owner, as partial beneficiary or contingent beneficiary in a life insurance policy that is no longer needed. Any benefits received by the Museum from life insurance plans are not subject to estate taxes.
BY RETIREMENT PLAN
Name the “Virginia Museum of Contemporary Art” as the beneficiary or contingent beneficiary of your retirement plan. The Museum will collect the full plan assets without the payment of income or estate taxes.
BY APPRECIATED SECURITIES
When you donate securities to Virginia MOCA, you receive the same income tax savings that you would if you wrote us a check, but with the added benefit of eliminating capital gains taxes on the transfer. Shares can be transferred by your broker directly to the Museum.
BY GIFTS OF REAL ESTATE OR ART WORKS/OBJECTS
These types of assets may be bequeathed to Virginia MOCA but are subject to the approval of the Gift Review Committee and must concur with Virginia MOCA’s Gift Acceptance Policies and Guidelines.
There are several types of trusts that benefit the donor and the Museum. Life income plans provide a revenue stream during the lifetime for the donor (and a survivor) while ensuring the future of Virginia MOCA. Other trusts pay income to the institution and pass assets to the donor’s heirs, such as a charitable remainder trust or a charitable lead trust.
We recommend that you discuss the various types of trusts with your financial advisor and estate planner.
If you would like to learn more about Planned Giving, please contact Deputy Director of Institutional Advancement, Homer Babbitt at Homer@VirginiaMOCA.org or 757-425-0000 x313.