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What are planned gifts… Planned gifts include gifts through a will,
charitable gift annuities, gifts of life insurance, charitable trusts and more.
Below you’ll find a brief overview of some of the most common
types of assets that you can donate to charity, and some of the
tax implications. Consult a
professional advisor for more details. Source:
Minnesota Tool
Kit For Giving
A bequest is when a supporter of your nonprofit makes charitable gift to your
organization by naming the organization as a beneficiary in their wills. In
general there are three ways donors make bequests:
Specific Bequest -The donor designates a specific dollar amount, specific
percentage, or specific property to the nonprofit.
Residual Bequest - The donor's estate will pay all debts, taxes,
expenses, and specific bequests. The remaining amount--the residue--will be
transferred to the nonprofit.
Contingent Bequest - A donor decides to give the designated nonprofit
all or a portion of their estate only under certain circumstances. For example,
naming the nonprofit as a beneficiary of the estate only if there are no
surviving close family members. Childless couples sometimes provide for the
entire estate to go to the surviving spouse, or if the spouse does not survive,
to one or several nonprofits.
Another way for a donor to contribute is through a Life Income Gift.
In this case a donor irrevocably transfer some assets to the nonprofit now, and
in return, the donor (and a survivor, if they wish) receive income for life. An
examples of a life income gift is called a Charitable Gift Annuity. In
exchange for your gift of cash or marketable securities the nonprofit, agrees to
pay the donor (and a survivor or other beneficiary) a fixed amount annually for
your lifetime. The transfer is part gift and part purchase of an annuity. The
rate of return is attractive and the payments are guaranteed for life.
Gift of Life Insurance is another gift some donors give when they find
that they no longer need their life insurance coverage, that was purchased years
ago to provide for children or other family members.
The donor is allowed to claim a charitable deduction for approximately the
policy's cash surrender value, and the proceeds are completely removed from
their estate.
Planned Giving Today serves the planned giving community as a
practical resource for education, information, inspiration and professional
linkage. We help gift planners enable others to give generously, prudently and
joyfully.
http://www.liebertpub.com/pgtoday/
The National Committee on Planned Giving is the professional association for
people whose work includes developing, marketing, and administering charitable
planned gifts. Those people include fundraisers for nonprofit institutions, consultants and donor advisors working in a variety of for-profit
settings. http://www.ncpg.org/
The purpose of the
Canadian Association of Gift Planners is to support Philanthropy by fostering
the development and growth of gift planning. The Association creates awareness,
provides education and is an advocate of charitable giving. The Association
brings together professionals from various disciplines to ensure that the gift
planning process achieves a fair and proper balance between the interests of
donors and the aims and objectives of registered charitable organizations in
Canada in accordance with the Association’s Standards of Professional and
Ethical Practice.
http://www.cagp-acpdp.org/en/default.aspx
Do you raise funds for a charity or counsel charities and donors? Taxwise
Giving and Philanthropy Tax Institute can help you in many ways. Development
professionals you and your program will benefit from our how-to books
on all aspects of planned giving, our monthly newsletter and comprehensive
planned giving courses. http://www.taxwisegiving.com/
 How
I Raised a Million in a Month by Barbara Ann Murray
Barbara Ann Murray made a promise when she decided to
resign after ten years as the director of a hospital
foundation: she vowed to raise a million dollars in a
month—and she did! In this inspiring book, she shares
stories about her mistakes as well as her successes as a
fund-raiser. She describes how she laid the groundwork
that led, eventually, to meeting her ambitious goal.
How I Raised a Million in a Month is a practical and
insightful guide to fund-raising, whether you are
embarking on your first fund-raising project or are a
seasoned fund-raising professional. The book offers
valuable tips about making contacts, building
relationships, staying optimistic, expressing gratitude,
thinking outside the box, and much, much more.
Barbara Ann Murray is a former high school teacher and
counselor who served for ten years as the executive
director of a hospital foundation. She enjoys speaking
and giving workshops on fund-raising.
For additional written guidebooks to help you with
your planed giving program click here!
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