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Planned Giving

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Why We Give

A Twist of Good Fortune

Joseph FleischmannJoseph Fleischmann was born in Nuremberg, Germany, on Oct. 17, 1925. At the time of his birth, the picturesque city was known for its medieval architecture and the Kaiserburg Castle, one of its most famous landmarks.
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At 100, Alumnus Reflects on Fond Memories and Growth of Alma Mater

Old Dominion logoLast week, an enthusiastic class of graduates finished their studies at Old Dominion University, leaving with memories of their time in classes and making social connections. Linwood "Tick" Thumm is proof that these memories can last a lifetime.
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Future Scholars Will Be Luckey

Mike and Denise LuckeyMike and Denise Luckey have known each other since the eighth grade. They remained friends throughout high school, but it wasn't until they went to different colleges - Denise to Virginia Tech and Mike to Old Dominion University, that they realized there might be more between them than merely friendship. It was a letter that Denise wrote to Mike that changed everything for the young couple. "I framed the letter and it hangs in our bedroom," said Mike. "We wouldn't be together today if Denise hadn't written to me."
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The Power of Distance Learning

Shannon HairShannon Hair and his mother were abandoned by his father when he was just a toddler. It was his mother's attitude that they could make it out of public housing by sheer determination and hard work. Shannon said, "My life could have ended up very differently. I should have been a statistic."
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Harry B. Adreon Continues His Wife's Legacy Through a Scholarship

Harry AdreonHarry Adreon grew up at the corner of Gates and Colley avenues in Norfolk. With his father working at H.B. Gilpin Company, a wholesale pharmaceutical company, it wasn't surprising that, as a student at Maury High School, Harry was attracted to young Beatrice "Bea" Rice, who planned to become a pharmacist.
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Jay and Joyce Kossman

Jay KossmanA native of Norfolk, Jay Kossman graduated from Maury High School and headed to Old Dominion to study political science. About the same time, Jay's future wife, Joyce, graduated from Granby High and was drawn to Old Dominion due to its proximity to home, the cost and her desire to teach.
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A charitable bequest is one or two sentences in your will or living trust that leave to Old Dominion University a specific item, an amount of money, a gift contingent upon certain events or a percentage of your estate.

an individual or organization designated to receive benefits or funds under a will or other contract, such as an insurance policy, trust or retirement plan

Bequest Language

"I, [name], of [city, state, zip] hereby give, devise and bequeath to Old Dominion University's Educational Foundation [or to Old Dominion University's Athletic Foundation], 4417 Monarch Way, Norfolk, VA 23529, a tax exempt organization, free of encumbrance, [written amount or percentage of the estate or description of property] for its unrestricted use and purposes."

able to be changed or cancelled

A revocable living trust is set up during your lifetime and can be revoked at any time before death. They allow assets held in the trust to pass directly to beneficiaries without probate court proceedings and can also reduce federal estate taxes.

cannot be changed or cancelled

tax on gifts generally paid by the person making the gift rather than the recipient

the original value of an asset, such as stock, before its appreciation or depreciation

the growth in value of an asset like stock or real estate since the original purchase

the price a willing buyer and willing seller can agree on

The person receiving the gift annuity payments.

the part of an estate left after debts, taxes and specific bequests have been paid

a written and properly witnessed legal change to a will

the person named in a will to manage the estate, collect the property, pay any debt, and distribute property according to the will

A donor advised fund is an account that you set up but which is managed by a nonprofit organization. You contribute to the account, which grows tax-free. You can recommend how much (and how often) you want to distribute money from that fund to ODU or other charities. You cannot direct the gifts.

An endowed gift can create a new endowment or add to an existing endowment. The principal of the endowment is invested and a portion of the principal’s earnings are used each year to support our mission.

Tax on the growth in value of an asset—such as real estate or stock—since its original purchase.

Securities, real estate, or any other property having a fair market value greater than its original purchase price.

Real estate can be a personal residence, vacation home, timeshare property, farm, commercial property or undeveloped land.

A charitable remainder trust provides you or other named individuals income each year for life or a period not exceeding 20 years from assets you give to the trust you create.

You give assets to a trust that pays our organization set payments for a number of years, which you choose. The longer the length of time, the better the gift tax savings to you. When the term is up, the remaining trust assets go to you, your family or other beneficiaries you select. This is an excellent way to transfer property to family members at a minimal cost.

You fund this type of trust with cash or appreciated assets—and receive an immediate federal income tax charitable deduction. You can also make additional gifts; each one also qualifies for a tax deduction. The trust pays you, each year, a variable amount based on a fixed percentage of the fair market value of the trust assets. When the trust terminates, the remaining principal goes to ODU as a lump sum.

You fund this trust with cash or appreciated assets—and receive an immediate federal income tax charitable deduction. Each year the trust pays you or another named individual the same dollar amount you choose at the start. When the trust terminates, the remaining principal goes to ODU as a lump sum.

A beneficiary designation clearly identifies how specific assets will be distributed after your death.

A charitable gift annuity involves a simple contract between you and ODU where you agree to make a gift to ODU and we, in return, agree to pay you (and someone else, if you choose) a fixed amount each year for the rest of your life.

Personal Estate Planning Kit Request Form

Please provide the following information to view the materials for planning your estate.

eBrochure Request Form

Please provide the following information to view the brochure.