Good Neighbor Village exists because of the generosity and compassion of others. Without the support of our friends and donors, we would not be the place we are today. As a non-profit organization, all gifts made to Good Neighbor Village are tax-deductible. If you are interested in donating to Good Neighbor Village, we encourage you to consult a professional who can assist you with the decision to donate. We are always happy to connect you with experienced professionals who can guide you in the right direction. For more information, please contact us at (804)-795-9813. We accept donations of all shapes and sizes. Below are a few ways in which you can donate to Good Neighbor Village:
Giving Through Established Organizations
There are several organizations which help Good Neighbor Village by receiving donations from individuals, groups and companies. The United Way provides Good Neighbor Village with a “designation code.” This code can be used to make donations to Good Neighbor Village. The code for Good Neighbor Village is 3352.
Benevolink is an entity which allows individuals to patronize companies they would normally shop with anyway. With Benevolink, one can allow Good Neighbor Village to benefit every time you patronize certain companies.
Considering Good Neighbor Village in a Trust
A trust is a legal arrangement that allows one party to manage assets held within the trust for the benefit of another. Many people designate their trust as the recipient of their assets upon their death. Then, assets within the trust are managed and ultimately disbursed in accordance with pre-determined guidelines. When used in estate planning, Good Neighbor Village can be incorporated into your trust and can be the recipient of your goodwill for years to come. If you need assistance with this topic, please contact us at email@example.com.
We can connect you with a professional who specializes in this area.
Life Insurance Proceeds
With an individually-owned life insurance policy, you can designate Good Neighbor Village as the primary beneficiary or as a secondary beneficiary. In either instance, the proceeds of the life insurance are not includable in the overall value of the estate and Good Neighbor Village can receive lump-sum proceeds free of taxation.
Using Your R.M.D. to Benefit Good Neighbor Village
After one reaches the age of 70 and a half, the IRS requires account owners to take what is called “Required Minimum Distribution” from certain IRA’s and qualified retirement plans. The amount is determined by a formula and, unfortunately, is non-negotiable. Some are in the fortunate position of not being required to use these assets to supplement their retirement income. Their current income may already include pensions and Social Security. Consider using these additional assets to purchase a life insurance policy which will allow you to leverage pennies on the dollar and pass greater dollar amounts on to family members, Good Neighbor Village, or both. If you need assistance with this topic, please contact firstname.lastname@example.org.
We will be happy to connect you with one of a professional who can assist you.
Naming Good Neighbor Village as a Bequest
Good Neighbor Village, Inc., a non-for-profit, tax-exempt organization incorporated by the laws of the State of Virginia and located in the State of Virginia. Our principal address is 8825 Buffin Road, Richmond, VA 23231.
A donor wishing to leave assets to Good Neighbor Village may include Good Neighbor Village as the primary or contingent beneficiary of their life insurance proceeds or qualified retirement plans. Some examples of these plans include, but are not limited to:
- SEP IRA
- Simple IRA
- Traditional/Rollover IRA
- ROTH IRA
Helping Good Neighbor Village In the Future
Some of our donors have named Good Neighbor Village as the beneficiary of all or part of their estate. This can be done in a number of ways. One may choose to leave a percentage of their estate or a specific dollar amount to Good Neighbor Village. The estate is then entitled to a tax deduction of the amount donated. Others find it easier to simply name Good Neighbor Village as the contingent beneficiary of the assets they have designated for a loved one. Should that loved one pre-decease the donor, the assets are left to benefit the residents of Good Neighbor Village. Please remember, if you would like to consider Good Neighbor Village as part of an overall estate plan, it is always advisable to consult with a professional first.
Type of Donations Accepted
– Kitchen items (appliances, large and small), dinnerware, furniture, books, electronics (computers, televisions, etc.), vehicles, etc. All of these items are used by Good Neighbor Village and are items that, from time to time, need to be replaced. Donate Services
– The Village has had many types of services donated in the past. These include, but are not limited to: landscaping (design and maintenance), plumbing, vehicle repair, HVAC repair and/or maintenance, delivery services, cleaning Donate Assets
– The Village has relied on the generous gifts of individuals, civic organizations and corporations for 20 years. To ensure that our residents have a secure future, our donors often consider the following asset types when donating to Good Neighbor Village:
- Required minimum distributions from I.R.A.’s
- Appreciated stocks, bonds or mutual funds
- Real estate
- Life insurance proceeds
- Estate settlements
- Business interests
If considering the gift of stocks, bonds or mutual funds, Good Neighbor Village uses the services of professionals in accounting, legal and financial service areas who can help with the efficient and proper transfer of the assets and who can also advise donors on the most tax efficient means of gifting these assets.
Other techniques that are used to ensure that Good Neighbor Village is a recipient of assets include:
Regardless of how you choose to donate, we respectfully ask you that you consider the residents of Good Neighbor Village as the recipients of your generosity. Your donations will ensure that Good Neighbor Village remains a wonderful place to live.