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In last month’s Give & Take we reviewed Giving USA’s charitable giving estimates for last year, which totaled over $200 billion for the first time in history. Charitable bequests accounted for over $16 billion of the total—another record. This month we will examine a similar report covering charitable contributions to higher education for fiscal year …Read More
As summer turns to fall, many organizations focus attention on efforts aimed at maximizing gift income for the remainder of the calendar year. Lower tax rates in coming years and other factors may combine to make the fall of 2001 an especially attractive time for donors to complete charitable gifts. Just over the horizon, however, …Read More
In recent weeks we have received a number of questions about the correct use of income tax rates in examples in publications intended for use this year. While there were rate reductions for 2001 beginning July 1, they were not effective from that point forward. In other words, if a taxpayer was in the 28% …Read More
After working in the field of nonprofit fund development for a number of years, Mark Walker believes that those who are successful in the area of planned gift development are those who “value the donor more than the donation.” According to Mr. Walker, senior representative for MAP (Medical Assistance Programs) International, this tenet is also …Read More
In its annual Giving USA report, the American Association of Fund-Raising Counsel (AAFRC) Trust for Philanthropy released its estimates of charitable giving in 2000 in late May. Total giving was estimated at $203.45 billion, an increase of 6.6% over 1999’s estimate of $190.16 billion. Of special interest to gift planners, the report indicates that an …Read More
The 2000 Census and other U.S. Census Bureau studies contain a wealth of information of interest to gift, estate, and financial planners alike. Consider the following: U.S. population grew by over 13% to 281 million since the 1990 Census. Every state’s population grew for the first time since the 1870s. The median age of Americans …Read More
The Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA) made a number of significant changes in the way that estate and gift taxes are applied. Until the recent changes were enacted, federal tax law had, since 1976, approached gift and estate taxes on a ‘unified’ basis. This meant that the same rates of …Read More
With the Economic Growth and Tax Relief Reconciliation Act of 2001 now in effect, many are wondering just what impact this new tax law will have on charitable giving in America. Give & Take decided to ask a panel of experienced gift planners and board members/donors to share their thoughts on the tax law changes. …Read More
In this month’s “Gift Planner Profile” we talk with Eric Schmelling, senior planned giving supervisor for The Rotary Foundation. As a fund development officer for an international organization, Mr. Schmelling shares a unique perspective on how planned giving is working for his organization both here in the United States and in countries around the world. …Read More
In 1999 the IRS conducted the first of what will be annual studies of charitable remainder trusts (CRTs). The information, contained in the winter issue of Statistics of Income Bulletin, focused on data from the 1998 reporting year. For 1998, a total of 85,060 information returns were filed by charitable remainder trusts. It should be …Read More