Scholarships make it possible for many deserving students to attend the College of Health Professions. They also help in our efforts to attract the brightest, most meritorious students. Endowed scholarships are created with a minimum of a $25,000 gift. The principal is invested, and the interest (approximately 4.5 percent) is used each year for student support. These named endowed scholarships last in perpetuity.
The funds are deposited and invested for the College of Health Professions by the Medical College of Virginia Foundation. Annual income on an endowment of $25,000 would be approximately $1,125.
|General Fund Endowment||$25,000|
|Full out-of-state scholarship **||$400,000|
Endowed faculty support
Endowed lectureships, professorships and chairs are used to support distinguished teachers and researchers in strategic areas of the university’s curriculum. The principal is invested, and the interest (approximately 4.5 percent) is used each year for faculty support. These named endowed funds last in perpetuity.
|Junior Faculty Endowment Fund||$250,000|
All named gift opportunities are subject to approval by the Virginia Commonwealth University Board of Visitors.
Although we welcome and encourage outright gifts, there are other ways to financially support College of Health Professions departments and programs, through what is known as planned giving. Gifts may be made during your lifetime or through your will in the form of:
- Bequests: One of the easiest and most common ways of planned giving.
- Life Insurance: Some policies may allow you to make a current or deferred contribution.
- Life Income Gifts: An opportunity to give and receive; these gifts allow you to receive an income: gift annuities, annuity trusts, unitrusts and pooled income funds.
- Charitable Gift Annuities: An annuity contract that allows a transfer of assets to benefit the College of Allied Health Professions as long as we agree to make regular, fixed payments to you for life.
- Deferred Charitable Gift Annuity: An excellent retirement program, making it possible for you to get an immediate income tax deduction, yet defer the receipt of income for a term of years. When payments begin, they will be at a much higher level than for an annuity that is not deferred.
- Charitable Lead Trusts: A way to support our programs and to transfer substantial assets to beneficiaries (children or grandchildren, for instance) with the potential for significantly lowered gift and estate taxes. Your heirs may actually receive a larger inheritance than they would through an outright bequest or accumulation trust, while the College of Health Professions receives an immediate flow of income.
- Charitable Remainder Annuity Trust: This trust may be created by irrevocably transferring cash, securities or property to a trust for the College of Health Professions’ benefit. In exchange, you and/or your designated beneficiaries will receive a fixed dollar amount, at least annually, for life or for a fixed term up to 20 years (the latter known as a term certain annuity trust). At your death, the death of your beneficiaries or the end of the term, the trust terminates and the assets are transferred to us.
We would be happy to meet with you and your financial consultants to discuss these and other ways of giving.