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The term “planned giving” was coined in 1969 by Robert F. Sharpe, Sr. a widely-respected consultant in the philanthropic sector. He wrote, “A donor usually considers a current gift to your institution as a cash outlay now. To make a deferred gift, a person decides to give at some future date, either a number of years from now or at death. A deferred gift is a present decision to make a future gift, evidenced by a legal contract. While the name ‘deferred giving’ is best known to professionals in the field, it is not a term that communicates very much to the average donor. Therefore, we suggest the term ‘planned giving.’ When a person makes a planned gift, it suggests forethought.”

Planned gifts are referred to as such because they require more planning, negotiation and counsel than many other gifts. Planned gifts can result in immediate income or supply income to charity over time. They can also serve to delay a gift for life, or other period of time. while the donor or others retain the assets used to fund the gift. Because of the charitable benefits, a number of state and/or federal income tax, capital gains, estate and gift benefits are associated with giving in this way.

Efforts to encourage planned gifts are popular among colleges, universities, hospitals, museums and community foundations. Funds generated through planned gifts are devoted to current funding needs as well as capital projects and endowments.

Research shows that planned giving may become considerably more important as a type of philanthropy in the United States due to the aging baby boomer population. This is often referred to as the “Great Wealth Transfer.”

It would be my pleasure to discuss planned giving and the Vicar’s Foundation with you. Just contact me at 904-273-1701 or [email protected].