There are several ways to support the School of Medicine through financial or estate planning. Examples include:

Plans from Your Estate
Bequests are gifts offered through estate plans, including wills, living trusts, and retirement plans. View bequest information here.

Plans that Pay You Income
You make a gift to the University and receive income for your life or for the lives of the beneficiaries you choose. These plans include Charitable Gift Annuities and Charitable Remainder Trusts.

Plans that Help the University Now and Your Family Later
The University uses the income from a gift you make for a specified period of time, and then returns the remainder to you or your heirs. This plan is called a Charitable Lead Trust.

Plans that are Tax-Wise and Easy to Give
A Qualified Charitable Distribution to the University of Virginia from your traditional IRA is tax free to UVA, and it will count toward your annual required minimum distribution without being included in your taxable income. Click here to learn more.

To learn more about planned giving options, please contact:
UVA Medical Alumni Association and Medical School Foundation (866-315-0947)
UVA Health System Development (800-297-0102)

Already Have a Planned Gift?
If you have already made a planned gift to support the School of Medicine, please complete our Planned Gift Information Form to let us know.

IRA Qualified Charitable Distribution

When you want to make a charitable gift, a Qualified Charitable Distribution (QCD) from your IRA is a tax-wise and easy asset to give.

When you reach age 70½, you are required to take an annual minimum distribution—whether you need the income or not. And a distribution from your traditional IRA is taxable income to you—unless you make it a gift to a qualified charity.

A Qualified Charitable Distribution to the University of Virginia from your traditional IRA is tax free to UVA, and it will count toward your annual required minimum distribution without being included in your taxable income.

Follow the rules

• You must be at least age 70½ at the time you make your gift.
• You must request your plan administrator to transfer the funds directly to the UVA Medical School Foundation.
• The QCD limit is $100,000 per person per calendar year.
• The funds are due by December 31 to reap the tax benefits for the year in which you make the gift.*

*Note: Because of the 2020 CARES Act, you aren’t obligated to take a Required Minimum Distribution (RMD) from your IRA this year.  However, you can still make a Qualified Charitable Distribution (QCD) from your IRA account directly to a qualified non-profit organization like the UVA Medical School Foundation. QCDs are not included as income and offer a way to reduce your taxable IRA balance up to $100,000.  

Support your passion!

• Make an unrestricted gift, to be used for the School of Medicine, or
• Designate your gift for a specific purpose. You may choose two or more beneficiaries by assigning a percentage of your total gift to each.

Your gift will support the University’s endless pursuit of knowledge and discovery to serve the common good.

QCD Donor Toolkit

The QCD Toolkit includes two sample letters:

• Letter 1 directs your IRA plan administrator to make a distribution directly to the UVA Medical School Foundation from your IRA account. Please note that the Tax ID number is essential to your distribution request. (Download an editable template for this letter in Word here.)
• Letter 2 notifies the University to expect the gift from your IRA. In it, you also specify how you want your gift to be used. (Download an editable template for this letter in Word here.)

For a more complete description of the IRS regulations, please review the most recent version of Publication 590-B, Distributions from Individual Retirement Arrangements (IRAs).

If you have any questions about a Qualified Charitable Distribution, please contact:
UVA Medical Alumni Association and Medical School Foundation (866-315-0947)
UVA Health System Development (800-297-0102)