Who said “Philanthropy can be a key part of your overall wealth management plan?"
A. President of Princeton in address to donors
B. Warren Buffet
C. Goldman Sachs and Co. promotional material
D. Cleveland Clinic promotional material
The Answer:
C. Goldman Sachs and Co.
This quote from Goldman Sachs materials in 2009 was the first time that they overtly promoted philanthropy as a planning strategy.
A recent poll asked people with wealth to rank seven items in order of importance. The question was: “What would you MOST like your heirs to inherit from you?”
A., B., C. and D are ALL true.
There are lots of great reasons donors give assets and here are just 4 of them.
Here's an idea. Let's give poor people money. No seriously. Lets just give them cash. No programs. No caveats.
Layla Middleton is a loyal supporter of your organization. At 55, she owns her own business and throws a huge amount of energy into her work. She's single, no kids. You've asked her for a major gift, but she's been hesitant. What's a good way forward?
The Simpsons co-creator Sam Simon has announced publicly that he has terminal colon cancer and plans to give his fortune to charity.
Paul Sullivan's recent article in the NYT, A Public Debate of the Wisdom of Gandolfini’s Will, is of interest to those of us who want to understand the basics of estate planning.
In 2000, Mr. Dearborn used $1,000,000 to establish a CRAT trust that was to pay him $80,000 annually. It suffered fairly large losses during the ensuing decade, all while continuing to pay out $80,000 per year. What if it's exhausted before the charitable remainder gift can be made?
The AFR is also known as the IRS Discount Rate. It's part of the calculation used to determine the charitable deduction for planned gifts such as charitable remainder trusts (CRTs) and gift annuities. The higher the AFR, the higher the deduction for CRTs and gift annuities, and the lower the tax-free portion of the annuity payment.