Help us help.
The Compassion Endowment secures lasting support to provide for residents who have outlived their resources. As a faith-based nonprofit organization, VMRC relies on the support of those who believe in our mission to help make up the shortfalls of providing life care and a high quality of living for everyone. The presence of this fund grants peace of mind and the assurance that VMRC residents can always remain here, at home. Our desire is to raise $2.5 - $3.5 million to increase the Compassion Endowment and offer all residents the peace of mind that comes with financial security even as needs and circumstances change.
VMRC celebrated reaching $15 million in estate gift commitments in early 2015 toward our goal of growing the Compassion Endowment to $30 million by 2025. At any time, there are approximately 38 residents in Complete Living Care or Assisted Living who must depend on others for financial support, including Medicaid, VMRC resources and the Compassion Endowment. Your support ensures that more residents will have the guarantee of a safe, loving home, even if they outlive their resources.
There are many ways to give easier and smarter:
A Gift in your Will
A gift made through your will can mean a tremendous difference in the care VMRC is able to provide. These gifts can be made for a specific amount, a percentage of your estate or by leaving the remainder of your estate to VMRC after all your instructions are completed. Your attorney can make a simple change to your will to add a gift for VMRC.
Gifts that Pay you Income
A charitable gift annuity is a way to make a gift to VMRC while receiving a fixed rate of return for the remainder of your life. Return rates, which range from 4.2% - 9% are based on your age and if the annuity is for one or two lives. A minimum investment is $10,000.
A charitable remainder trust is an arrangement in which property or money is put into a trust to benefit VMRC, but the donor continues to use the property and/or receive income from it while living. The beneficiaries receive the income and the charity receives the principal after a specified period of time.
Make VMRC a beneficiary of a life insurance policy. You can also gift an insurance policy to VMRC with VMRC as the owner.
Make VMRC a beneficiary of your IRA, 401(k), 403(b), SEP, Keogh, or other qualified retirement plan. This has a number of advantages:
- It does not cost anything to make this change. The administrator of your plan can give you a one-page form to make this change.
- It is revocable.
- It reserves all of the assets for your use if you need them.
- It can save taxes for you and your estate.
- It can make more money in your estate available to your family and friends.
Gift of Residency Fee Refund
VMRC residents who paid a Residency Fee when they moved into VMRC can, if they picked a refund option, designate that refund to be paid to VMRC upon their passing.
Other vehicles for giving a deferred gift to VMRC
Normally used when assets are larger and there are special circumstances. VMRC can help guide you and work with you and your professional advisor to develop these plans. Contact Merv Webb, firstname.lastname@example.org or 540-438-4246.