Each year VPAS serves over 5,000 older adults and their families, providing food, social engagement activities, personal care, adult daycare, cooling and heating assistance, insurance counseling, and transportation services.
Many people don’t realize that, even though VPAS receives funding from government sources for many of its programs, VPAS is not a government organization – it relies heavily upon donations to offer all of its services. VPAS is a 501(c)(3) public charity, and as such, all gifts to VPAS are tax deductible to the fullest extent of the law.
There are many ways to give and VPAS welcomes gifts of all sizes. You can make a gift now or plan for it later.
Ways to Give
Annual donations of cash of any size are always needed.
Gifts of appreciated property (stocks, bonds, mutual funds and real estate) can result in dual tax benefits; the full value of the assets is usually deductible, with no capital gains tax.
People feel very helpless when a friend or relative is grieving. Oftentimes, making a memorial gift to a treasured charity in memory of a loved one helps in the grieving process. It does not take the pain away, but it celebrates and honors that person’s life and provides important services for those left behind who really need them. Notifications of these special gifts are sent to family members.
A bequest made to VPAS through a will is an easy way to provide a nice gift. The simplest way to set it up is to specify a percentage that is given to VPAS. Most people never make out a will because they don’t think they have an estate. However, the reality is that even if you just have a car or other personal property, you have an estate that can significantly help VPAS. For folks with more significant means, a bequest to VPAS is fully deductible for Federal estate tax purposes and may result in additional savings on state inheritance taxes.
A gift of your IRA to VPAS can eliminate income tax liabilities for your heirs.
A new or existing life insurance policy offers a cost effective way to make a significant donation by making VPAS your beneficiary.
Your financial advisor can help you set up other planned giving means, that can benefit both VPAS and you, like a Charitable Remainder Trust, which pays you during your life and goes to VPAS after that or a Charitable Lead Trust that pays out to VPAS for a period of time and goes to the heirs you specify after that.
VPAS always recommends that you discuss your desires with your family and your financial advisor, so that your needs and wishes are considered first and foremost.