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archiAAD 640, Unit 8: Planned Giving and Leaving a Legacy

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UK Arts Administration

on 6 October 2017

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Transcript of archiAAD 640, Unit 8: Planned Giving and Leaving a Legacy

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Unit 8:
1. The purpose of Planned living
2. Advantages of a planned giving program
3. Five Steps for a Planned Giving Strategy
4. Simple and complex types of planned giving
5. Planned giving gifts acceptance policy
A. Understand planned giving’s role
B. Create a plan for planned giving
how to give, what to give, whom to contact with questions and, most importantly, why to give.
C. Implement the plan
D. Grow the program
E. Nurture the relationship and evaluate
Create Giving Society BEFORE the donor passes away
Host recognition events while donor is still alive
Be visible with name placement
Create naming opportunities
Highlight Endowment/Named Fund proceeds
Feature the donors through testimonies and other donor communication pieces.
Wills and Bequests
Trusts
Gifts of Life Insurance
Gifts of Real Estate
IRA (Roth and Traditional)
Pooled Income Fund
Charitable Remainder Trusts
Charitable Remainder Uni-Trusts
Charitable Gift Annuity
Immediate Annuity
Deferred Payment Gift Annuity
“Flip” Unitrust
Charitable Education Trust
Gift of a Remainder Interest in a Residence or Farm
Charitable Lead Trust
Etc...
A. Wills and Bequests
“I give to the (nonprofit name), a charitable institution located in (city), the sum of $______ (or ___% of my estate; or the property described herein) for its general purposes.”
Bequests
B. Trusts
Wills VS Trusts
C. Gifts of Life Insurance
Life Insurance Example
D. Gifts of Real Estate
1. The donor wants to retain their cash and liquid assets but also make a significant gift to the organization.
2. The donor can avoid substantial capital gains tax liability which may have been a deterrent to selling estate.
3. Donor wants to be relieved of the management issues that come with rental/commercial property.
4. Donor is considering downsizing, moving to a smaller home, retirement complex or closer to children.
5. Donor is considering selling vacation property they no longer use.
Mr. and Mrs. Smith, who are in the 31% tax bracket, would like to make a charitable gift to My Town Acting Troupe. They have owned a rental home - now worth $250,000 - since purchasing it ten years ago for $100,000.
By donating this property to My Town Acting Troupe, the Smiths will receive a $250,000 charitable deduction, which saves them $77,500 in income taxes (31%). In addition, the Smiths avoid the potential capital gains tax of $30,000 on the $150,000 appreciation (20%).
1. Part Gift/Part Sale, AKA “Bargain Sale”
2. A Gift with a Retained Right to Income
3. A Gift with a Retained Right to Live in the Property
E. Traditional and Roth IRAs (Individual Retirement Accounts) - New for 2013.E. Traditional and Roth IRAs (Individual Retirement Accounts) - New for 2013.
Pension Protection Act of 2006
IRA Charitable Rollover.
IRA Transfer Rules
Donor must be at least 59 ½ as of the date of distribution (distributions are required by age 70 ½)
Donor can transfer up to $100,000 in each year
Distributions are excluded from federal income tax (for Traditional IRAs. Roth IRAs are tax exempt)
Distributions count towards the minimum required distributions
A. Gifts of Cash
B. Bequests
C. Real Estate
Does the property fulfill the mission of the organization?
Is the property marketable?
Are there any undue restrictions on the use, display, or sale of the property?
Are there any carrying costs for the property?
D. Life Insurance
E. Publicly Traded Securities
2. Advantages of a planned giving program
Planned Giving and Leaving a Legacy
how to give, what to give, whom to contact with questions and, most importantly, why to give.
Create Giving Society BEFORE the donor passes away
Host recognition events while donor is still alive
Be visible with name placement
Create naming opportunities
Highlight Endowment/Named Fund proceeds
Feature the donors through testimonies and other donor communication pieces.
Create Giving Society BEFORE the donor passes away
Host recognition events while donor is still alive
Be visible with name placement
Create naming opportunities
Highlight Endowment/Named Fund proceeds
Feature the donors through testimonies and other donor communication pieces.
Wills and Bequests
Trusts
Gifts of Life Insurance
Gifts of Real Estate
IRA (Roth and Traditional)
Pooled Income Fund
Charitable Remainder Trusts
Charitable Remainder Uni-Trusts
Charitable Gift Annuity
Immediate Annuity
Deferred Payment Gift Annuity
“Flip” Unitrust
Charitable Education Trust
Gift of a Remainder Interest in a Residence or Farm
Charitable Lead Trust
Etc...
Pooled Income Fund
Charitable Remainder Trusts
Charitable Remainder Uni-Trusts
Charitable Gift Annuity
Immediate Annuity
Deferred Payment Gift Annuity
“Flip” Unitrust
Charitable Education Trust
Gift of a Remainder Interest in a Residence or Farm
Charitable Lead Trust
Etc...
Pooled Income Fund
Charitable Remainder Trusts
Charitable Remainder Uni-Trusts
Charitable Gift Annuity
Immediate Annuity
Deferred Payment Gift Annuity
“Flip” Unitrust
Charitable Education Trust
Gift of a Remainder Interest in a Residence or Farm
Charitable Lead Trust
Etc...
Pooled Income Fund
Charitable Remainder Trusts
Charitable Remainder Uni-Trusts
Charitable Gift Annuity
Immediate Annuity
Deferred Payment Gift Annuity
“Flip” Unitrust
Charitable Education Trust
Gift of a Remainder Interest in a Residence or Farm
Charitable Lead Trust
Etc...
“I give to the (nonprofit name), a charitable institution located in (city), the sum of $______ (or ___% of my estate; or the property described herein) for its general purposes.”
“I give to the (nonprofit name), a charitable institution located in (city), the sum of $______ (or ___% of my estate; or the property described herein) for its general purposes.”
Life Insurance Example
Life Insurance Example
Life Insurance Example
Life Insurance Example
Life Insurance Example
1. The donor wants to retain their cash and liquid assets but also make a significant gift to the organization.
2. The donor can avoid substantial capital gains tax liability which may have been a deterrent to selling estate.
3. Donor wants to be relieved of the management issues that come with rental/commercial property.
4. Donor is considering downsizing, moving to a smaller home, retirement complex or closer to children.
5. Donor is considering selling vacation property they no longer use.
1. The donor wants to retain their cash and liquid assets but also make a significant gift to the organization.
2. The donor can avoid substantial capital gains tax liability which may have been a deterrent to selling estate.
3. Donor wants to be relieved of the management issues that come with rental/commercial property.
4. Donor is considering downsizing, moving to a smaller home, retirement complex or closer to children.
5. Donor is considering selling vacation property they no longer use.
Mr. and Mrs. Smith, who are in the 31% tax bracket, would like to make a charitable gift to My Town Acting Troupe. They have owned a rental home - now worth $250,000 - since purchasing it ten years ago for $100,000.
Mr. and Mrs. Smith, who are in the 31% tax bracket, would like to make a charitable gift to My Town Acting Troupe. They have owned a rental home - now worth $250,000 - since purchasing it ten years ago for $100,000.
By donating this property to My Town Acting Troupe, the Smiths will receive a $250,000 charitable deduction, which saves them $77,500 in income taxes (31%). In addition, the Smiths avoid the potential capital gains tax of $30,000 on the $150,000 appreciation (20%).
By donating this property to My Town Acting Troupe, the Smiths will receive a $250,000 charitable deduction, which saves them $77,500 in income taxes (31%). In addition, the Smiths avoid the potential capital gains tax of $30,000 on the $150,000 appreciation (20%).
1. Part Gift/Part Sale, AKA “Bargain Sale”
2. A Gift with a Retained Right to Income
3. A Gift with a Retained Right to Live in the Property
1. Part Gift/Part Sale, AKA “Bargain Sale”
2. A Gift with a Retained Right to Income
3. A Gift with a Retained Right to Live in the Property
E. Traditional and Roth IRAs (Individual Retirement Accounts) - New for 2013.E. Traditional and Roth IRAs (Individual Retirement Accounts) - New for 2013.
Pension Protection Act of 2006
IRA Charitable Rollover.
IRA Transfer Rules
Donor must be at least 59 ½ as of the date of distribution (distributions are required by age 70 ½)
Donor can transfer up to $100,000 in each year
Distributions are excluded from federal income tax (for Traditional IRAs. Roth IRAs are tax exempt)
Distributions count towards the minimum required distributions
IRA Transfer Rules
Donor must be at least 59 ½ as of the date of distribution (distributions are required by age 70 ½)
Donor can transfer up to $100,000 in each year
Distributions are excluded from federal income tax (for Traditional IRAs. Roth IRAs are tax exempt)
Distributions count towards the minimum required distributions
Does the property fulfill the mission of the organization?
Is the property marketable?
Are there any undue restrictions on the use, display, or sale of the property?
Are there any carrying costs for the property?
Does the property fulfill the mission of the organization?
Is the property marketable?
Are there any undue restrictions on the use, display, or sale of the property?
Are there any carrying costs for the property?
E. Publicly Traded Securities
E. Publicly Traded Securities
Full transcript