Philanthropic Planning

About Philanthropic Planning

Philanthropic planning involves the design, facilitation and ongoing stewardship of gifts given to charitable organizations. Charitable gift planning:

  • Uses a variety of financial tools and techniques for giving
  • Requires the assistance of one or more qualified specialists
  • Utilizes tax incentives that encourage the charitable giving
  • Can cover the full spectrum of generosity by individuals and institutions
  • Is based on powerful traditions of giving in the United States

The techniques of charitable gift planning include both revocable and irrevocable arrangements, gifts available for use at the time they are given and gifts that may not be available until a future date and split-interest gifts intended to balance financial, personal and charitable objectives. These techniques are called planned gifts.

The tools of charitable gift planning include all types of real and personal property and tangible and intangible assets.

Donors should seek charitable gift planning advice from professionals with integrity, expertise, and experience in law, investments, property, tax, and charitable transfers in order to assure both the technical merits of the transfer and the philanthropic quality of the gift.

What are Planned Gifts?

Planned gifts are a variety of charitable giving methods that allow you to express your personal values by integrating your charitable, family and financial goals. Making a planned charitable gift usually requires the assistance of the charity’s development professional and/or a knowledgeable advisor such as an attorney, financial planner, or CPA to help structure the gift.

Planned gifts can be made with cash, but many planned gifts are made by donating assets such as stocks, real estate, art pieces, or business interests—the possibilities are endless. Planned gifts can provide valuable tax benefits and/or lifetime income for you and your spouse or other loved one. The most frequently-made planned gifts are bequests to charities, made through your will. Other popular planned gifts include charitable trusts and charitable gift annuities.
Why should I make a planned gift?

Benefits of Philanthropic Planning

Many people want to make charitable gifts but need to do so in a way that helps meet their other personal, family, or financial needs. Planned gifts give you options for making your charitable gifts in ways that may allow you to:

  •     Make a larger charitable gift than you thought possible
  •     Increase your current income
  •     Plan for the financial needs of a spouse or loved one
  •     Provide inheritances for your heirs at a reduced tax cost
  •     Reduce your income tax and/or avoid capital gains tax
  •     Diversify your investment portfolio
  •     Receive income from your personal residence or farm
  •     Plan for the transfer of your business
  •     Leave a charitable legacy for future generations

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