Turn Your Generosity Into Lifetime Income

Charitable Gift Annuities

Learn more about the many benefits of a charitable gift annuity in our FREE guide Strengthen Your Future With a Charitable Gift Annuity.View My Free Brochure

When you are looking for ways to support the mission of the Virginia Museum of Fine Arts, you shouldn't feel like you are choosing between your philanthropic goals and financial security. One gift that allows you to support VMFA's work while receiving fixed payments for life is a charitable gift annuity.

Not only does this gift provide you with regular payments and allow us to further our work, but when you create a charitable gift annuity with VMFA you can receive a variety of tax benefits depending on how you fund your gift.

If you fund your gift annuity with cash or appreciated property, you qualify for a federal income tax deduction if you itemize. In addition, you can minimize capital gains taxes when you fund your gift with appreciated property.

And now, you can fund your gift using your IRA assets. If you are 70½ and older, you can make a one-time election of up to $50,000 to fund a gift annuity. While your gift does not qualify for an income tax deduction, it does escape income tax liability on the transfer and count toward all or part of your required minimum distributions.

Delay Your Payments

If you are younger than 60 or don't need your payments immediately, you can set up a deferred gift annuity. This allows you to delay receiving payments until a later date—such as when you reach retirement. To learn more, view and download the FREE guide Plan for Retirement With a Deferred Gift Annuity.

Please provide the following information to view the brochure.

A Giving Story

Hank and Genevieve ChenaultFor Hank and Genevieve Chenault, VMFA is part of their past, present and future. "Joining the museum was one of the first things we did after moving to Richmond in 1964," Hank explains. "Over the years, we've developed a deep appreciation for all that VMFA offers. Visiting other museums on our travels has confirmed that the Virginia Museum of Fine Arts is something truly special. The American and European collections are personal favorites, but what we really value are the countless opportunities for learning, fun and renewal," Hank continued. "As longtime members, we've developed wonderful relationships with the curators, whose expertise is such an asset to the museum. VMFA has added so much to our lives; we decided it was time to do more than our annual gift."

The Chenaults recently established a charitable gift annuity (CGA) with the museum, which provides an income stream during their lifetimes, a significant tax deduction and a charitable gift to VMFA upon their deaths. "Genevieve and I hope that our charitable gift annuity will, in a small way, enable future generations to enjoy and otherwise benefit from the beauty and the riches of the VMFA collection as much as we have." In gratitude for this gift, the Chenaults have been added to the Glasgow Society, which recognizes all those who have included VMFA in their estate plans.

See How It Works

Learn How to Fund It

You can use the following assets to fund a charitable gift annuity:

Calculate Your Benefits

Submit a few details and see how a charitable gift annuity can benefit you.

See My Benefits

Next Steps

  1. Contact Erin Elder at 804.340.1619 or erin.elder@VMFA.museum for additional information on charitable gift annuities or to chat more about the personal benefits of creating an annuity with VMFA.
  2. Seek the advice of your financial or legal advisor.
  3. If you include VMFA in your plans, please use our legal name and federal tax ID.

Legal Name: Virginia Museum of Fine Arts Foundation
Address: 200 N. Arthur Ashe Blvd., Richmond, VA 23220
Federal Tax ID Number: 51-0205333

Learn more about the many benefits of a charitable gift annuity in our FREE guide Strengthen Your Future With a Charitable Gift Annuity.View My Free Brochure
Not Sure How to Begin Planning?Download our FREE Personal Estate Planning Kit