Estate / Planned Giving and The Clifton House Circle

The Sheltering Arms that exists today is thanks to hundreds of donors over more than 130 years who have given generously. Many of them provided gifts at their deaths through bequests, trusts, and other forms so that Sheltering Arms could continue to provide for future generations.

The Clifton House Circle honors those individuals who have made legacy gift commitments by naming Sheltering Arms Foundation as a beneficiary in their estate plans.

Planned gifts are thoughtful ways for you to protect your assets now and make an important impact after your lifetime.

In just the past six years, multiple individuals provided bequests ranging from $10,000 to more than $1.7 million that we were able to use in the construction of the new Sheltering Arms Institute hospital. While those individuals will never benefit from our services, they are helping thousands of individuals to come.

**Please always speak with your financial advisor and/or attorney for advice.**

Your attorney can help you design an estate plan to help you achieve your goals for your family, friends, and/or organizations you love including Sheltering Arms. You can leave a discreet amount, a percentage of your estate, or the residual after all your other wishes have been fulfilled.

This information should be helpful when including Sheltering Arms Foundation as a beneficiary in your will or living trust.

Unrestricted Gifts
You may wish to provide an unrestricted gift for Sheltering Arms Foundation. Our general policy is to invest unrestricted bequests in the Foundation’s general endowment fund, where the annual earnings will perpetually support our mission.

Whether you intend to leave Sheltering Arms Foundation a discreet amount, a percentage of your estate, or the residuary, your attorney will draft language to accomplish your intended bequest under applicable state law. For unrestricted bequests, the following language is suggested:

Sample Bequest Language For Unrestricted General Purposes
“I give to The Sheltering Arms Foundation, Tax ID # 54-1615599, a not-for-profit, Virginia corporation located in Mechanicsville, Virginia, the sum of $____________ [or property described herein] [or ____ percent (____%) of the rest and residue of my estate], [or the residue of my estate] to be used by the Foundation for its general purposes.”

Restricted Gifts
If you would like to restrict your bequest to a particular area or program, create a new restricted or named endowment fund, or restrict your bequest in any other way or for any other purpose, contact the Foundation Office to discuss or review your intentions to ensure that your wishes may be fulfilled as stated.

You can name Sheltering Arms Foundation (and other organizations / individuals) as a beneficiary of your life insurance policy, bank account, brokerage account or retirement account. Typically, you just complete a form provided by the financial or insurance institution naming Sheltering Arms Foundation as a beneficiary of a specific amount, a percentage, or the residuary. Bank accounts and brokerage accounts may refer to the forms as “transfer on death” forms.

This information should be helpful when including Sheltering Arms as a beneficiary of your life insurance policy, bank account, brokerage account or retirement account.

If you are 70½ or older and own a traditional IRA, you may roll over up to $100,000 from your IRA to charity every year as a qualified charitable distribution (QCD). A gift of up to $100,000 made from your IRA to Sheltering Arms Foundation will:

not be included in your taxable income.

can satisfy all or part of your required minimum distribution (RMD) for the year beginning at age 72.

reduce your taxable income, even if you do not itemize deductions.

not be subject to the charitable deduction limit on gifts of cash.

support our mission.

Making Your IRA Gift
To make an IRA QCD gift to Sheltering Arms, please direct your IRA administrator to mail a check payable to “Sheltering Arms Hospital” to the address below:

Sheltering Arms Foundation
Attn: Michael Greene-Russell

140 East Shore Drive, #200

Glen Allen, VA 23059

IMPORTANT: IRA administrators frequently do not include the donor’s name on IRA QCD checks. Please alert Sheltering Arms before making an IRA QCD gift, so that we may identify and acknowledge your gift in a timely manner. Please contact Michael Greene-Russell, 804.342.4141.

Please Note: If you are still working and contribute to your IRA after reaching age 70½, an IRA QCD gift may impact your taxable income.
Please always consult a qualified advisor before making an IRA QCD or any other planned gift.

LEGAL NAME:

The Sheltering Arms Foundation

LEGAL ADDRESS:
8226 Meadowbridge Road

Mechanicsville, VA 23116

MAILING ADDRESS FOR CORRESPONDENCE:

140 East Shore Drive, Ste. 200

Glen Allen, VA 23113

FEDERAL TAX IDENTIFICATION NUMBER:
54-1615599