Why Give
2008 will mark the 60th year MOAA has provided undergraduate educational assistance to children of officers who have served, are serving or are retired from the seven Uniformed Services and to children of enlisted personnel who are serving or are retired. We have provided educational assistance to nearly 10,000 children of military families.
Our donors contribute regularly through annual giving and through their estate planning efforts (bequests, wills, trusts, IRAs). We also offer a very competitive Charitable Gift Annuity program for those who are 65 and over and want to receive an annual income from their contribution.
Contributions are tax deductible under the provisions of §501(c)(3) of the Internal Revenue Code. By selecting the most appropriate gift option, you may maximize your tax deduction while you help students achieve their dream of a college education. Please consult your financial advisor(s) regarding the best option for your financial situation.
Our students understand that prompt repayment enables more students to have the same opportunity to attend college. Over 5,100 former students have demonstrated fiscal responsibility and a commitment to this program by repaying their loans. Their default rate is less than .1%. As a consequence, contributions are used countless times to a maximum advantage.
Top reasons why you should support The Scholarship Fund of MOAA:
- All donations go to the children of officer and enlisted military personnel, regardless if they are on Active Duty, Guard, serving in Reserves, or are retired.
- 100% of your donation goes to students-0% pays for overhead.
- Your charitable donation is tax-deductible.
- Your personal information is never given or sold to other charities.
- You can touch the future-education is the foundation of our democracy!
Ways of Giving
Cash Gifts
Checks, made payable to "The Scholarship Fund", can be mailed to:
The Scholarship Fund
MOAA
PO Box 34889
Alexandria, VA 22334-0889
You can print out a General Scholarship Contribution Form, however it is not required.
(To download the form, you must either have or install the free Adobe Acrobat Reader.)
Online Donations- using a credit card
Memorial and Honor Gifts
You may contribute to The Scholarship Fund in memory of a loved one, friend, or colleague, or to commemorate a special occasion.
The Fund will acknowledge your gift by sending a letter to the person(s) you designate. Please be sure to include the appropriate names and addresses with your gift.
Checks, made payable to "The Scholarship Fund", can be mailed to:
The Scholarship Fund
MOAA
PO Box 34889
Alexandria, VA 22334-0889
You can print out a Memorial Contribution Form, however it is not required.
(To download the form, you must either have or install the free Adobe Acrobat Reader.)
Securities
It may be to your financial advantage to give marketable securities - stocks, bonds, or mutual funds - instead of cash as a gift to The Scholarship Fund of MOAA.
Any securities you have owned for more than 12 months that have increased in value since you bought them are subject to long-term capital gains tax when you sell them. If you make a gift of these securities to The Scholarship Fund however, you can save twice - once when you receive a charitable deduction for the securities' fair market value as of the day of transfer, and again when you avoid the taxes on the capital gains. Consult your financial advisor regarding the details of such a transaction.
For more information and instructions on how to transfer your securities to The Scholarship Fund, call CAPT Shelley Marshall, USN (Ret) at 1-800-234-6622, ext. 169 or email shelleym@moaa.org.
Designated Scholarships
A Designated Scholarship is a named scholarship that, in perpetuity, assists deserving undergraduate students from military families. A donor can establish a Designated Scholarship with a one-time payment of $25,000. An extended payment plan is available, with a minimum of 20 percent payable immediately and 20 percent payable each year for four years thereafter. The student selected to receive the designated scholarship receives both a $500 grant and an interest-free loan each year for up to 5 years of undergraduate education at a 2- or 4- year accredited college or university.
A Designated Scholarship may be named in memory or honor of a loved one, friend, or colleague, or in your own name. Some donors suggest additional selection criteria, such as specific military service or college major. While we will honor those restrictions if possible, we reserve the right to deviate from such selection criteria.
Each donor receives information about his or her Designated Scholar. Each Designated Scholar is required to correspond with their donor at least once. A list of all new Designated Scholars and their donors is published annually in the Military Officer Magazine. Donors establishing a Designated Scholarship are eligible for membership in the Designated Scholar Society.
For more information, call CAPT Shelley Marshall, USN (Ret) at 1-800-234-6622, ext. 169 or email at shelleym@moaa.org.
You can print out a Designated Scholarship Form, however it is not required.
(To download the form, you must either have or install the free Adobe Acrobat Reader.)
Bequests
A bequest - a gift made through your will - allows you to retain control of your assets during your lifetime and distribute them as you wish upon your death. After providing for loved ones, many people choose to include a gift to The Scholarship Fund of MOAA.
Some of the most common types of bequests include a fixed dollar amount, a specific property, a percentage of the estate, or the residual portion of the estate. A charitable bequest may reduce the estate tax. Consult an attorney when making or revising a will to ensure compliance with state law and to minimize any applicable taxes.
For bequests to The Scholarship Fund of MOAA, your attorney may find the following wording useful:
"I give and bequeath__________________(description of property) and/or the sum of $_________ to The Scholarship Fund of the Military Officers Association of America (MOAA), a Virginia non-profit, charitable organization (EIN: 54-1659039) that is tax-exempt under section §501(c)3 of the Internal Revenue Code doing business at 201 North Washington Street, Alexandria, Virginia 22314-2539. These funds are to be used for the college education of dependent children of MOAA members and dependent children of Active, Reserve, Guard, or retired enlisted uniformed-services personnel."
You can print out a Bequest- Designated Scholarship Form here, however it is not required.
(To download the form, you must either have or install the free Adobe Acrobat Reader.)
Donors who provide for the Scholarship Fund either by means of a bequest or a planned gift are eligible for membership in the Legacy Circle. For more information, please call CAPT Shelley Marshall, USN (Ret) at 1-800-234-6622 ext. 169 or email shelleym@moaa.org.
Estate Tax Planning Calculator
Charitable Gift Annuities
A charitable gift annuity assures you a quarterly income for life in addition to a sizeable charitable income tax deduction. In exchange for an irrevocable transfer of cash or securities, The Scholarship Fund of MOAA agrees to pay a specified annuity to the donor and/or another beneficiary. Benefits include:
- Guaranteed income for life.
- Qualify for a federal income tax deduction. Deductions may vary modestly depending on the timing of your gift. Note that deductions for this and other gifts of cash and non-appreciated property will be limited to 50% of your adjusted gross income. For gifts of long-term appreciated property, deductions will be limited to 30% of your adjusted gross income in any one year. You may, if necessary, take unused deductions of this kind over the next five years, subject to the same adjusted gross income percentage limitation.
- Receive a fixed income in quarterly installments each year for life. Additionally, part of each year's payments will be tax-free for a specific number of years. Payment rates and length of tax-free years vary with the age of the beneficiary(ies).
- Potential for reduced probate costs and estate tax on your estate.
- Appreciated securities avoid capital gains tax on the appreciated value of the security on that part of the property that is considered a gift. For a personalized breakdown of how a charitable gift annuity could work for you or more information regarding charitable gift annuities, please call CAPT Shelley Marshall, USN (Ret) at 1-800-234-6622 ext. 169 or email shelleym@moaa.org.
For more information, we suggest reading the article "Charitable Gift Annuities: "The Scholarship Fund of MOAA can help you augment your income - while you give" that appeared in the April 2003 issue of Military Officer.