Legacy Giving
Honor loved ones … leave a legacy and more!
“Every man shall give as he is able, according to the blessing of the Lord thy God which he hath given thee.” Deuteronomy 16:17
Leave a final gift of love—a lasting legacy of help and hope. Planning your charitable giving for future generations is a rewarding and noble act. Your will or estate plan can provide for the future of your loved ones AND provide ongoing help and hope for homeless neighbors in our community at the same time. Learn how to create a will that blesses others.
If you have already included a legacy gift to The Union Mission in your will or estate plan, please let us know. Contact our Development Department at 757-627-8686, ext. 504. We would love to thank you and your family for your generosity and welcome you into our Bashford Legacy Circle.
The Bashford Legacy Circle
A legacy is something that remains after we leave this world — something that speaks of our lives. The late Rev. Ted Bashford, longtime Executive Director of The Union Mission, left a legacy of a great love for his Savior, a commitment to help the poor and needy, and a desire to be a good steward of God’s resources.
The Mission established the Bashford Legacy Circle in honor of his faithful service. Legacy giving allows our donors to continue their giving to The Union Mission Ministries in perpetuity. Even after they have passed on, they are touching the lives of men, women, and children into the future.
We offer several ways for faithful donors like you to join the Bashford Legacy Circle through your will or estate plan. To learn more about making a legacy gift to support God’s work at The Union Mission Ministries, contact our Development Department at 757-627-8686, ext 504.
Wills
Leaving a bequest to The Union Mission in your will or living trust is a simple way to support our ministry to serve homeless people in Hampton Roads.
A bequest can take the form of:
- The remainder of your estate after providing for your family.
- A percentage of your estate.
- A specific dollar amount.
- The addition of a “child” named “Charity” to your estate plans, directing those funds to the Mission.
We’ve got lots of free resources to help you plan or even start your will at unionmission.christianwill.org.
For a copy of our “Guide to Creating a God-Honoring Will” or more information about legacy giving to The Union Mission, contact our Development Department at 757-627-8686, ext. 504.
The Union Mission Endowment
Our new fund with the Hampton Roads Community Foundation helps you support our ministry with dependable, secure, income for decades to come. You’ll help us fulfill our purpose today and tomorrow.
The Union Mission Organizational Endowment Fund is part of a pool of combined assets from more than 55 regional and local nonprofits. The aggregate amount of more than $300 million leverages high-yield opportunities available only to large, top-tier investors.
The investments are handled by the Spider Management team, affiliated with University of Richmond, and the endowment is managed locally by the highly respected Hampton Roads Community Foundation.
Each year, the Mission may take a fund distribution for immediate use, but the bulk of the endowment assets remain invested for maximum long-term return and a hedge against inflation and market uncertainty.
Over time, your endowment gift will provide more income to the Mission than your original investment. You increase the impact of your donation to a cause that reflects your values in perpetuity, encouraging a lasting legacy of charitable giving.
For more information about this exciting new giving option, contact Director of Development Helen Sommer at 757-627-8686, ext. 504 or legacygiving@ummnorva.org.
Charitable Gift Annuity
This helpful agreement allows you to use an asset, such as cash or marketable securities, and receive fixed payments for life at attractive rates.
Payments can be made for one or two lives at rates based on age. You receive an immediate income tax deduction and part of the income you receive is tax-free. Upon the death of the annuitants, the remainder of the gift benefits The Union Mission.
We have partnered with the National Christian Foundation, one of the largest and most respected donor-directed funds in the country, to provide this charitable gift annuity option to our donors.
Beneficiary Designations
By naming The Union Mission as the beneficiary on your accounts, you can directly transfer funds after your lifetime that will continue to help our homeless guests.
The Union Mission can be named a beneficiary of your:
- Bank account
- IRA, 401(k) or 403(b)
- Life insurance policy
- Publicly traded stocks and bonds
- Mutual fund shares
- Savings bonds
IRA Charitable Rollover Gift
If you are 70 ½ years or older, you can make a life-changing gift from your IRA account to The Union Mission and potentially save on your taxes. These gifts are also sometimes referred to as Qualified Charitable Distributions.
Gifts up to $100,000 per year that are made from your IRA to a qualified charity like The Union Mission may not be considered taxable income and may qualify for your required minimum distribution (RMD), which could lower your income and taxes. Limitations may apply, so consult your tax advisor about making an IRA charitable rollover gift.
Gifts of Appreciated Stocks
This outright gift immediately impacts the work of The Union Mission and receives favorable tax treatment. You can deduct the full market value of the securities and avoid any capital gains tax on the appreciation.