Planned Giving Insights and Information
Planned giving insights and information from the recognized leader in planned giving software, marketing, gift administration and consulting solutions.
Medaling Mortality Tables: Gold, Silver and Bronze Choices for FASB
Published by
Kara Morin
on
If you’re a charity following the Financial Accounting Standards Board (FASB) recommendations for calculating the liability of your split interest agreements, you have an important choice to make at the end of each fiscal year: which mortality table to use to calculate your liabilities. While you might hope that your auditor will make a recommendation, the choice of a mortality table lands squarely in the charity’s purview. For charities looking for an opinion on which mortality table to choose, we’re happy to offer a ranking of our preferred mortality tables from bronze to gold. Why the Mortality Table Matters The liability amount is designed to be a good faith estimate of a charity’s obligation to make payments to all gift income beneficiaries for the balance of each individual gift’s term, whether that term is for measuring lives, a term of years, or a combination of the two. Underestimating life spans will deflate a charity’s liability calculation, which can lead to real world...
2 minute read
Questions to Ask Before Accepting an International Gift
Published by
Kara Morin
on
I have a friend, a veterinarian, who told me that one of the first things she was taught about cats is that they are not small dogs. Even though both are companion animals, the similarities between cats and dogs are only fur deep. This anecdote came to mind last month when discussing the challenges of negotiating life income gifts from donors abroad. Because outright gifts to charity are universal, and bequests to charity nearly so, it is tempting to think that split-interest agreements, like charitable gift annuities, charitable trusts, and pooled income funds, are just as ubiquitous. Think again. Among the nearly 200 countries on the planet, only a few have charitable gift opportunities similar to American charitable gift annuities and charitable trusts. Even when split-interest gift arrangements are allowed, there can still be striking differences. For instance, Canada offers immediate charitable gift annuities but does not allow donors deferred gift annuities or flexible gift...
4 minute read
Gift Annuity Voluntary Termination – What to Do and How to Do It
Published by
Kara Morin
on
If you have an annuitant who finds their gift annuity income “nice, but not necessary,” they may be interested in voluntarily giving up their right to future annuity payments. Voluntarily releasing, or terminating, their interest in a charitable gift annuity (CGA) allows the charity to access the residuum early. The charity can also count part of the released amount as a new outright gift. Voluntary termination is also an effective way of managing the issue of a CGA that is wasting. An annuitant who is charitably inclined may agree to terminate their annuity to spare the charity the continued expense of paying the annuity from general operating funds.
charitable gift annuities,
gift annuity agreements,
voluntary terminations,
voluntary severance,
early release
5 minute read
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