Methods of Giving & Donor Recognition

There are many methods of giving, including outright gifts, bequests, and gifts which return income to the donor and/or their spouse for life. Not only are your cash contributions a welcomed source of support, but there are other ways you can support the Free Clinic as listed below. Every gift is acknowledged in writing. However, more significant gifts may be recognized through our newsletter, certificates, plaques, etc.

GIFTS of CASH

Checks should be made payable to: The Loudoun Free Clinic

GIFTS by CREDIT CARD

Donations may be charged to a credit card. We accept Visa and MasterCard. Remember that it costs an average of 3% of your donation to process. Such gifts may be a one-time or an ongoing basis. Please call 703/779-5412 to make a donation by charge.

GIFTS through United Way

A donor must sign up with a local campaign and must select us by name – The Catoctin Foundation, the tax exempt organization for the Free Clinic.

GIFTS of SECURITIES

Gifts of appreciated stocks, bonds, or mutual funds can provide special tax advantages, including a charitable deduction for the full fair market value of the gift and avoidance of capital gains taxes.

GIFTS of REAL ESTATE

Gifts of homes, farms, land and other real property can result in tax deductions and avoidance of capital gains tax. Subject to appropriate review, the Free Clinic encourages real estate gifts that are not subject to debt, liens or restrictions, which could affect its market value. Gifts can also be made in which the donor retains the right to live in the home and still receives a tax deduction. The Free Clinic will prepare the documents to effectuate your desired gift at no charge, which may result in a large tax savings to you.

MEMORIAL OR TRIBUTE GIFTS

Any gift may be designated in memory or honor of a friend or loved one. The family of the deceased, or person honored, will be notified by the Free Clinic of such gifts.

CORPORATE MATCHING GIFTS

Donors may be able to multiply the value of gifts by participating in a matching gift program provided through an employer or by a corporate board membership.

BEQUEST by WILL or LIVING TRUST

A will is a very personal matter and should be prepared with the advice of an attorney. Any gift to the Free Clinic may make a taxable estate non-taxable. The Free Clinic will provide access to charitable gift planning at no cost; to the extent the proceeds benefit the Free Clinic. The following language may be used for a specific bequest in a simple non-taxable estate (generally defined for our purposes, as assets, including life insurance in excess of $1,000,000 aggregate):

I give, devise and bequeath to The Catoctin Foundation located at 224 Cornwall Street, NW, Leesburg, Virginia, _______percent of my estate (or $_____or other personal or real property appropriately described).

GIFTS of INSURANCE

If the Free Clinic is named via its charitable corporate name (the Catoctin Foundation) as both the sole owner and the beneficiary of a life insurance policy, the contributor is eligible to receive an immediate charitable deduction for the policy’s fair market value or the net premiums paid, whichever is less. Future premiums paid may also be tax deductible.

RETIREMENT PLAN GIFTS

Gifts can also be made by designating the Free Clinic via its charitable corporate name (the Catoctin Foundation) as beneficiary of a retirement fund such as an IRA, SEP, 401(k) or profit sharing plan.

LIFE INCOME GIFTS

Through a charitable gift annuity or charitable remainder trust, a donor can make a gift of cash, securities or property, receive income for life and still receive a tax deduction.

ENDOWMENT

A donor may wish to designate a gift to begin an endowment. Monies would be invested with a portion of the annual earnings from the funds used for current operations.

DEDUCTABILITY

The Loudoun Free Clinic via its charitable corporate name (the Catoctin Foundation) is recognized by the IRS as a public charity under Internal Revenue Code Section 501 (c) (3). All contributions are deductible for federal income tax purposes (subject to statutory limitations) and for federal estate and gift tax purposes.

ASSISTANCE WITH YOUR DONATIONS

Although qualifying for tax deductibility, tax rules differ for gifts such as cash, insurance, real estate, charitable trusts and personal property. In these instances, assistance may be sought from your legal or financial advisors. Following are two professionals who offer assistance to those seeking to make complex financial donations to the Free Clinic. They volunteer their professional services to the Free Clinic helping to facilitate the donation of in kind assets – at no cost to the Free Clinic or the donor. If you need assistance with your donation, you may choose to contact them directly.

Erin Kershner Financial Advisor Raymond James Financial Services 4035 Ridge Top Road, Suite 550 Fairfax, VA 22030 703/222-5899

Thomas Dunlap Attorney at Law Dunlap, Grub, Weaver & Whitbeck 19 Liberty Street, SW Leesburg, VA 20175 703/777-7319

Any information provided herein is not tax advice and is not intended or written to be used in such a manner. Such advice cannot be used by the taxpayer, for the purpose of avoiding penalties that may be imposed on the taxpayer under any circumstances. The taxpayer should seek the advice of a qualified attorney or CPA.

FOR MORE INFORMATION CONTACT:

Jennifer Montgomery
Executive Director
224-B Cornwall Street, NW
Leesburg, VA 20175
Phone 703/779-5412
Fax 703/779-5407
Email: