PG Calc Blog

The latest on planned giving from PG Calc.
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Beware Dramatic Increases in Estimated Gift Annuity Liabilities

Beware Dramatic Increases in Estimated Gift Annuity Liabilities

[NOTE: The following is based on a true story.] Some of the numbers just didn’t make sense. It was that most wonderful time of the year for a non-profit organization – the closing of the June 30 fiscal year! Almost like Christmas in July, everyone was busy reviewing tally sheets and running various reports in an effort to provide comprehensive information about the gifts received over the previous 12 months. With outright gifts, of course, the process was fairly straightforward – whatever was received, for the most part, was counted with a few exceptions. With life income gifts, however, the process was a little more complicated, since the organization needs to report the total funding amount, the estimated liability, and the estimate of the charitable remainder.

Is Your Organization Ready to Launch a Gift Annuity Program?

Is Your Organization Ready to Launch a Gift Annuity Program?

An organization generally commits to launching a gift annuity program after research and planning is presented to the Board for approval. Planning may be done by a Board or staff member, volunteer, or consultant. Some organizations wait until all components of the program have been decided before issuing their first annuity. Others close their first gift, then create their gift administration plan. Most charities do some planning to get started and work out the rest later.