Legacy and Planned Giving
Create your VIP legacy. You can make a lasting impact on the Philadelphia community today by making a Legacy Gift to VIP.
You can leave your mark in two ways.
1. Make a Named Gift
Naming opportunities provide you with the chance to showcase your commitment to VIP. Some opportunities available are:
- Office Space: VIP has several office spaces available for naming purposes. These spaces are used extensively to connect VIP volunteers, clients, and key stakeholders, making this an excellent opportunity to showcase your support of VIP’s work.
- Staff Positions: The staff at VIP dedicates every day to serving as a resource for both volunteers and clients. Endowing a staff position, such as a case manager or staff attorney, will make your name synonymous with VIP’s dedication to serving those in need.
- Fellowships: Fellowships provide a recent law school graduate with the opportunity to serve VIP clients and begin a career in public interest law. Endowing a fellowship at VIP expands opportunities for new lawyers for years to come.
- Tangled Title Fund: The Tangled Title Fund helps keep low-income clients in their homes. This fund enables clients to protect their assets and pass on their home to future generations by paying fees associated with clearing title. Endowing this fund demonstrates a commitment to housing stability in the Philadelphia community.
2. Join our Legacy Society
By incorporating VIP into your estate planning, you will strengthen our financial foundation for the future and ensure access to justice for the next generation of Philadelphians. Below is more information on the types of legacy gifts you can consider.
Bequest: With a designation in your will or living trust, you can create a legacy for Philadelphia VIP and not affect your cash flow during your lifetime. Sample bequest language is as follows: “I give, devise, and bequeath to Philadelphia VIP (1500 Walnut Street, Suite 400, Philadelphia, PA 19102), the sum of $________ (or a description of the specific asset), for the benefit of Philadelphia VIP and its general purposes.”
Charitable Remainder Trusts
This is a strategic way to make a gift, receive fixed payments and defer or eliminate gains tax. A Charitable Remainder Trust provides you with a steady cash flow and can be more beneficial than keeping a particular asset or selling it outright.
In addition, donors receive a current tax deduction for the charitable remainder interest and reduce estate taxes. A trust can be established during your lifetime or become effective under a Will or living trust.
Retirement Assets: Your retirement fund can be taxed up to 80% if passed on to heirs, but you can gift it tax free to Philadelphia VIP.
Life Insurance: In donating a policy, you can often take an immediate deduction as well as deduct future premium payments. You’ll get the proceeds out of your taxable estate and it’s a great way to make an extraordinary gift at a modest cost.
Charitable Lead Trusts
A Charitable Lead Trust can greatly reduce or avoid possible gift and estate tax on trust assets passing to your family based on income first going to Philadelphia VIP for a period of years, with the remainder trust assets passing to your heirs.
Lead Trusts are also appealing to owners of assets they wish to pass intact to the next generation, such as a family vacation home.
Once you have arranged a gift, please let us know by contacting Sophie Bryan, Executive Director at 215-523-9560 or firstname.lastname@example.org. We would be honored to have the opportunity to thank you and invite you to join our Legacy Society.
Donor Policy: Philadelphia VIP will not share or sell a donor’s personal information with anyone else, or send donor mailings on behalf of other organizations