Kinds of Gifts

Unrestricted gifts directed to the Department of Wood Science and Forest Products are used at the discretion of the Department Head to fund the most pressing Department priorities. By giving the Department Head the flexibility to distribute funds wherever necessary, such gifts enhance every aspect of student life in the department. Unrestricted gifts also enable the Department to respond to unanticipated needs and opportunities by providing administrators and faculty with the resources to start and nurture programs and initiatives that may well shape the university’s future direction.

You can give directly to the Department of Wood Science and Forest Products. Please contact the Department Head or College of Natural Resources Director of Development:

Department of Wood Science and Forest Products
(540) 231-8853.
230 Cheatham Hall (0323)
Blacksburg, VA 24061

The College of Natural Resources Development Office serves its mission by securing resources to support the College’s students and faculty, and to enhance its programs for teaching, research and outreach. Our purpose is to foster relationships between the College, its friends, alumni and corporate partners, matching donors’ philanthropic interests with the College’s needs in our mutual desire to reach new levels of excellence in education, research and public service.

We appreciate every donation made to our College, and we strive to apply each gift for the maximum benefit to further CNR’s mission.

CNR Development Office
(540) 231-7048
324 Cheatham Hall
Blacksburg, VA 24061

Endowed funds provide a permanent source of income to meet the needs of Department faculty and students. Endowed funds may be unrestricted or restricted for a specific purpose, such as chairs, distinguished professorships or fellowships. They may be established through an outright gift of cash, securities, a planned gift, or a bequest.

A memorial fund can help perpetuate the values and ideals that guided someone’s life. Typically memorial funds are established for a specific purpose. Honorary funds can commemorate a significant event or honor someone who is still living.

Graduate fellowships enable the Department to attract top graduate students. Fellowships may be endowed, or they may be supported on an annual basis.

Undergraduate scholarships may be established based on merit and/or need-based criteria. Undergraduate scholarships can support research opportunities often reserved for post-graduate students.

Ways to Support

The most common way to make a gift is by check, which should be made payable to “The Virginia Tech Foundation, Inc.” and mail to:

Office of University Development
201 Pack Building
Blacksburg, VA 24061

To insure that your gift is used as you wish, please include a note stating the designation. If you would like to make a gift today, please go online to:
https://www.ban-vtweb.vt.edu/pls/bprod/hzskpldg.p_vt_giving or call (540) 231-7048 for questions or help.

Donors are more frequently using credit cards to make their gift. Some simply call in their donation; others specify that an automatic charge is to be made periodically. For more information, contact Jane Stringer at
1-800-533-1144, or jwstring@vt.edu.

The full market value of gifts of appreciated securities is tax deductible. Securities are recorded based on the mean market value of the stock on the date of gift, which is determined by the date the donor relinquishes control of the stock. Securities can be transferred directly from your brokerage account to the University’s account.

For more information, contact the College of Natural Resources Development office at (540) 231-7048 or The Office of Investments and Debt Management online at http://www.idm.vt.edu/gifts.html

One way to maximize your gift to Virginia Tech is to check with your employer’s personnel department to see if it is one of the many companies that have a matching gift program. You can also click here for a free look-up of matching gift companies. By following your company’s guidelines, the value of your gift may be doubled or tripled. Many companies make this benefit available to employees, employee spouses, retirees, and board members.

Donors to Virginia Tech receive 1872 Society credit for a company match, as do their companies. For more information, contact Renee Riffe by e-mail at crriffe@vt.edu or by phone at 1-800-533-1144.

Gifts-in-kind are items of tangible personal property such as art, books, computer equipment, and automobiles. They are donated for related educational purposes and are recorded at their fair market value.

Real estate gifts can be a tax-wise way to support Virginia Tech since they can be donated without paying any capital gains taxes. Moreover, if a donor has held the property for more than one year, he or she can claim a tax deduction based on its fair market value — even though it was purchased for only a fraction of that amount. (Property held less than one year also can be donated, qualifying for a deduction typically based on what the donor paid for it.)

There are a variety ways in which real estate can be donated. It can be used to make an outright gift, allowing an endowment, capital project, or other needs to be funded right away. It can be used to fund a life income gift, paying the donor, and perhaps others, an income stream for life with the remainder then being used to support Virginia Tech. Donors also can contribute a remainder interest in a residence or a farm; this enables them to make a gift to Virginia Tech today while still living in their house or on their farm for the rest of their lives.

While the requirements to make a real estate gift vary, depending on the type of gift being considered, they typically require at least three steps — an appraisal of the property’s value, an assessment of any environmental risks posed by the property, and the preparation of a deed that actually transfers the property.

A planned gift may enable you to satisfy personal financial planning needs in addition to providing the College with important, long-term support. Some plans may provide income for life (or a term of years), an immediate income tax charitable deduction, avoidance of capital gains tax, and professional asset management (if the University serves as trustee). If a gift is made through your will, you obtain significant estate tax benefits. For more information on planned gifts: http://www.givingto.vt.edu/planned-givingto.html

In writing your will or living trust, you can specify that you would like your estate to benefit the Department of Wood Science, College of Natural Resources at Virginia Tech. For more information on planned gifts: http://www.givingto.vt.edu/planned-givingto.html

For more than 130 years, Virginia Tech has helped business, government, and organizations address complex problems and respond to new opportunities — a heritage that places Virginia Tech among an elite group of the nation’s higher education institutions. To better serve the community and educate future leaders, Virginia Tech has engaged in a long-term strategic planning process to address the academic, business, and societal challenges and opportunities of the 21st century.

The Office of Corporate and Foundation Relations builds, strengthens and enhances mutually beneficial partnerships between Virginia Tech and corporations and foundations worldwide. For information on some of our most successful partnerships and other information about corporate giving please go to www.givingto.vt.edu/cfr/ for further information.

For more information on any of these giving options please contact the Director of Development, College of Natural Resources at Virginia Tech (540) 231-7048 or online at www.givingto.vt.edu