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A deferred gift is a type of charitable contribution that is made by a donor but is not received by the nonprofit organization until a future date, often upon the donor's death or the occurrence of a specified event. These gifts can take various forms, including bequests, charitable remainder trusts, and life insurance policies. By committing to a deferred gift, donors can reduce their estate taxes while also making a significant impact on the organization’s mission. Common motivations for making a deferred gift include allowing donors to maintain control of their assets during their lifetime and the desire to leave a lasting legacy. Nonprofits benefit from deferred gifts as they can include these commitments in their long-term financial planning, potentially ensuring sustainability and growth.
While it's true that many deferred gifts are realized posthumously, some can provide benefits during the donor's lifetime, such as income from a charitable gift annuity or tax deductions associated with the planned giving vehicle.
A traditional gift is an immediate contribution that the nonprofit receives at the time of donation, while a deferred gift is pledged for the future, typically realized upon the donor’s death or after a specific condition is met.
Nonprofits can promote deferred gifts by educating donors on the benefits, providing examples of how deferred gifts make a difference, and offering estate planning resources or planned giving programs.
Yes, if structured properly, deferred gifts can qualify for tax deductions. However, it is essential for donors to consult with tax professionals or estate planners to understand the specific tax implications of their planned giving arrangements.