The Corps Bond
By Sandi R. Bliss, chief advancement officer
Earlier this year, none of us could have known that we would be required to distance ourselves from each other because of COVID-19.
However, despite all the separation, the Corps of Cadets family still found ways to touch each other through kindness, strength, and a shared bond to live out the university motto, Ut Prosim (That I May Serve).
As you think about your Corps bond and how you are helping the next generation of the Corps family, we hope you will consider one of the following opportunities.
- Corps Leadership and Military Science Building: We still have naming opportunities available in the Corps Leadership and Military Science Building starting at $25,000. Hurry before they are all gone.
- Corps Brick Plaques: We are using images of Lane Hall bricks to make one-of-a-kind plaques that will be displayed inside the Corps Leadership and Military Science Building. To get one, all you need to do is donate until you reach the threshold of $2,500 to any Corps of Cadets non-endowed fund, such as the Commandant’s Priorities Annual Fund, between March 10, 2020, and March 10, 2025. One brick plaque per donor. To learn more call us 540-231-2892 or visit vtcc.vt.edu/bricks.
Ways to Give
Endowments are a powerful investment in the future of the Corps. They provide a dependable, perpetual source of funding. Endowed gifts are invested, and each year a percentage of the return is made available to the university to support critical Corps initiatives. The distribution amount is approved by the Virginia Tech Foundation board each year. Endowments can be created with a minimum gift of $100,000.
Annual gifts of any amount can make an immediate impact. They can be made one time or arranged to be made on a convenient, recurring basis.
Gifts to the Commandant’s Priorities Annual Fund of $500 or greater automatically sponsor a first-year cadet in the fall or spring.
For end-of-the-year giving, please be sure your envelopes are postmarked by Dec. 31.
- Mark your calendar: Giving Day 2020 is now scheduled for Sept. 9-10.
- Give online: givingto.vt.edu/corps (PayPal, Venmo, reoccurring gift). Look for “Select an area” and choose “Corps of Cadets.”
- Text to give: 51555 and reply VTCC
Gift Planning Options
There are so many wonderful options for leaving a powerful legacy through planned gifts to support the Corps, and we are here to help.
- Future intent: If you have included the Corps in your estate planning, please let us know.
- Donor-advised fund: Create a donor-advised fund to maximize tax benefits now and recommend charitable gifts, possibly with family involvement, for many years to come.
COVID-19 Relief Package
The following are some important takeaways for charitable giving:
- $300 charitable deduction for everyone. Now all taxpayers will be able to deduct $300 of charitable gifts.
- Limitations on charitable deductions enlarged. Donors making larger gifts and pledge payments can benefit from the ability to use more of their deduction in 2020, accelerating their tax savings. For this year, most gifts made in 2020 can be deducted up to 100 percent of a donor’s adjusted gross income (as compared with the normal 60 percent). To qualify, these must be cash gifts to public charities. These benefits don’t apply to gifts of stock or real estate or gifts to a donor-advised fund.