Thank you LaShawne Pryor, Ed.D for having us as at this year’s HBCU Philanthropy Symposium. It was great connecting with you, Meg Cline, Andrew Hibel and CJ
I strongly believe that planned giving is prime opportunity for HBCUs - particularly life income gifts.
Life income gifts, such as charitable gift annuities and charitable remainder trusts, offer benefits for both donors and institutions:
Benefits for donors:
1. **Regular Income**: Donors receive regular payments for life or a specified term.
2. **Tax Deductions**: Donors may receive an immediate charitable income tax deduction for a portion of the gift.
3. **Capital Gains Tax Savings**: Donors can often avoid capital gains tax on appreciated assets used to fund the gift.
4. **Estate Planning**: Life income gifts can help donors reduce their taxable estate and potentially pass more to their heirs.
5. **Philanthropic Impact**: Donors can support charitable causes they care about during their lifetime.
Benefits for institutions:
1. **Stable Funding**: Institutions receive a reliable stream of income from the gift over the designated period.
2. **Donor Relationships**: Life income gifts can deepen relationships with donors and their families over time.
3. **Diversification**: Institutions can diversify their revenue sources by incorporating life income gifts into their fundraising strategies.
4. **Legacy Giving**: Life income gifts can help institutions build a pipeline of future support from donors who include them in their estate plans.
5. **Financial Sustainability**: These gifts can contribute to the long-term financial sustainability of the institution.
Overall, life income gifts can be a win-win for both donors and institutions, providing financial benefits, tax advantages, and the opportunity to make a lasting impact through philanthropy.
#ImpactforLifeIncomeForForever
We loved participating in planned giving conversations at the 2024 HBCU Philanthropy Symposium this week! A. Ahmad Berry and Denise T. Johnson, Esq., LL.M.T presented Planned Giving 2.0, and our client Meg Cline from the University of Illinois Foundation spoke on a panel about building university planned giving programs. We look forward to continuing the conversation around the need for life income gifts and legacy building at HBCUs.
#plannedgiving #agiftthatpaysyouback #HBCUPhilanthropySymposium #HBCU
Director, Center for Nonprofit Excellence
2wCan't wait for a day of celebration and impactful discussion on Trust-Based Philanthropy!