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A planned gift is a contribution made to a nonprofit organization that is arranged in advance, typically through financial planning. These gifts often come from a donor’s estate and can include bequests, charitable gift annuities, charitable remainder trusts, and life insurance policies. The donor communicates their intent to make the gift as part of their long-term financial or estate planning, allowing them to provide for the organization’s future while also possibly receiving tax benefits. Planned gifts are valuable because they provide nonprofits with a more stable financial resource and help ensure long-term sustainability. Unlike immediate, one-time donations, planned gifts often represent larger sums of money, making them significant for many organizations’ funding strategies.
Planned gifts can come from individuals of all financial backgrounds. While larger gifts may often come from wealthier donors, anyone can establish a planned gift, even if it’s a modest amount. Many organizations provide options for planned gifts that accommodate various financial situations, making it an accessible option for more donors.
Donors can use various assets for planned gifts, including cash, securities (stocks and bonds), real estate, artwork, and other personal property. Donors can also designate a percentage of their estate or specific items as part of their planned gift.
Yes, planned gifts can provide substantial tax advantages. Depending on the type of planned gift, donors may receive income tax deductions, reduced capital gains taxes, and estate tax benefits. It's advisable for donors to consult a tax professional to understand the specific advantages based on their circumstances.
Nonprofits can promote planned giving through various strategies, including informational seminars, personal outreach to major donors, the establishment of a planned giving program, marketing materials, and recognition societies to honor individuals who have included the organization in their estate plans.