Planned Giving Simplified A down-to-earth introduction to planned giving by a leading pioneer in the field. In this groundbreaking book, charitable gift planning expert Robert F. Sharpe, Sr., demystifies the complex world of planned giving for not-for-profit managers. He provides a detailed blueprint for starting and building a successful planned giving program, and develops a rational framework for managing the subtle interplay of legal, administrative, and interpersonal factors involved in the planned giving process. Central to Sharpe's proven approach is his controversial definition of the effective charitable gift planner as being not so much a fund raiser as an expert at helping potential benefactors satisfy a deeply felt emotional need. Rather than soliciting or closing on planned gifts, the planner's primary focus should be on forming relationships with donors and providing them with the means and opportunity to fulfill their desire to do good. Using compelling case studies, Sharpe demonstrates his approach in action. He identifies the various types of planned gifts and takes you inside the hearts and minds of the planned givers themselves, revealing their primary motivations and overarching concerns. He then guides you, step-by-step, through the entire planned giving process, and concludes with a clear delineation of the organizational structures required to sustain a planned giving program. Praise for Planned Giving Simplified "This book is a must for all who are serious about establishing or maintaining a successful gift planning program for their institution." --Nancy L. Perazelli, CFRE Gift Planning Officer, Drake University, Des Moines, Iowa. "In his own inimitable style, Bob Sharpe has done an admirable job of describing the planned giving process in an easy-to-understand manner. Woven throughout is the emphasis on the important human relationship between the donor and the charitable gift planner." --Walter T. Weaver, III Director, Finance Support Division, Boy Scouts of America. "Robert F. Sharpe, Sr., has provided a comprehensive road map of the world of planned giving. He guides [readers] to the desired destination without unnecessary detours along the way. His book will be a valuable addition to the libraries of not only not-for-profit professionals, but also 'givers' who seek a better understanding of the many routes available to them in their gift planning." --Joseph H. Powell President Emeritus and Senior Consultant, Baptist Memorial Health Care Corporation. "The name Bob Sharpe is synonymous with planned giving. I don't know of anybody who knows more about it and who can better convey its importance." --Reverend Dr. Arthur Caliandro Pastor, Marble Collegiate Church, New York City. "I really like [this book]. It is . . . elegantly simple, direct, and forthright. . . . very enjoyable." --Thomas W. Cullinan, JD Executive Director of Gift Planning, University of Maryland.

ROBERT F. SHARPE, Sr., is the founder of Robert F. Sharpe & Company, a leading planned giving consulting firm based in Memphis, Tennessee. He is founder and Director of the National Planned Giving Institute at the College of William and Mary and a regular contributor to the planned giving literature.

Foreword

xv

(6)

Preface

xxi

(6)

Acknowledgments

xxvii

PART I THE PLANNED GIFT

1

(46)

1 An Introduction to Planned Gifts

3

(9)

What People Give to Fund Planned Gifts

5

(1)

The Changing Value of Property

6

(2)

Real versus Personal Property

8

(1)

Tangible versus Intangible Property

8

(1)

Life Interest versus Remainder Interest

9

(1)

The Giver's Connection to the Gift

10

(2)

2 Current Planned Gifts

12

(15)

Introduction

12

(1)

Gifts of Securities

13

(4)

Other Possessions

17

(3)

Annual Gifts of Income from Charitable Lead Trusts

20

(1)

Gifts of Existing Life Insurance

21

(1)

Gifts of Real Estate

22

(1)

Gifts from Retirement Accounts

23

(1)

Creative Arrangements by Corporations

24

(2)

Conclusion

26

(1)

3 Deferred Planned Gifts

27

(20)

The Last Will and Testament

27

(1)

Revocable Living Trusts

28

(2)

Life Estate Agreements

30

(1)

Existing Life Insurance and Annuity Policies

31

(4)

IRAs and Other Retirement Plans

35

(2)

Products from Financial Service Institutions and Credit Unions

37

(1)

Giving-for-Income Plans: Other Options

38

(4)

Charitable Gift Annuities

42

(1)

Funding Charitable Giving Plans through Wills

42

(2)

Other Contractual Asset Transfers

44

(1)

Conclusion

44

(3)

PART II THE PLANNED GIVER

47

(26)

4 Who Makes Planned Gifts?

49

(9)

Giver Profile

49

(1)

Age Matters

50

(3)

Life's Milestones

53

(1)

What Types of People Choose Which Gifts?

54

(1)

Qualified Prospective Planned Givers

55

(2)

Conclusion

57

(1)

5 Why People Make Planned Gifts

58

(6)

Giving Is a Joyful Way of Life

58

(1)

Motivations for Giving

59

(4)

Why People Give

63

(1)

6 What Planned Givers Want to Keep When They Give

64

(9)

Four Financial Hazards

64

(5)

Gift Planners' Responses to These Fears

69

(1)

Questions to Ask Prospective Planned Givers

70

(3)

PART III THE GIFT PLANNER

73

(40)

7 The Planners Who Help People Make Planned Gifts

75

(17)

Charitable Gift Planners (Employees of Charitable Institutions)

76

(2)

Independent Planned Giving Consultants

78

(3)

Financial Planners

81

(3)

Financial Service Corporations

84

(1)

Trust Companies

85

(1)

Community Foundations

86

(1)

Certified Public Accountants

87

(1)

Attorneys

88

(1)

Allied Professionals and Charitable Gift Planners Working Together in the Gift Planning Process

88

(4)

8 Charitable Gift Planners: Who They Are

92

(10)

When Management Hires Charitable Gift Planners

92

(3)

Opposite Priorities

95

(2)

Gift Planners Must Have Integrity

97

(1)

Gift Harvesting: One Approach to Conflict

98

(2)

Are Charitable Gift Planners "Selling" Giving Plans?

100

(2)

9 The Giver and the Charitable Institution Connection

102

(11)

Establish the Foundation of the Planned Giving Program

102

(2)

Communicate the Vision, Mission, and Case of the Organization

104

(2)

Turning the Donor Pyramid Upside Down

106

(7)

PART IV WHEN PLANNED GIVER AND GIFT PLANNER MEET

113

(26)

10 The Charitable Estate-Planning Drama

115

(18)

"The Four Ps"--An Approach to Use in the Charitable Estate and Gift Planning Interview

116

(2)

Emotional Considerations of Charitable Estate and Gift Planning

118

(5)

The Estate- and Gift-Planning Drama and How It Unfolds

123

(2)

What Happens at Death?

125

(6)

Meeting Their Objectives

131

(2)

11 Acknowledgments, Recognition, and Memorials

133

(6)

The All-Important First Step

134

(1)

Make Acknowledgments a Priority

134

(2)

Honor, Recognition, and Memorial Gift Programs

136

(1)

Conclusion

136

(3)

PART V THE ORGANIZATIONAL STRUCTURE AND PLANNED GIVING

139

(24)

12 The Role of the Board of Trustees in Making the Institution's Planned Giving Program More Effective

141

(7)

Who Should Be Trustees?

141

(2)

Ownership of the Planned Giving Program

143

(2)

Profile of a Trustee of a Charitable Institution

145

(3)

13 The Role of the Chief Executive Officer and Senior Managers in Building a Planned Giving Program

148

(15)

The Chief Executive Officer's Role in Planned Giving

150

(1)

The Program Affairs Executive's Role in Planned Giving

151

(1)

The Public Affairs Executive's Role in Planned Giving

152

(4)

The Business Affairs Executive's Role in Planned Giving

156

(3)

Conclusion

159

(4)

Appendixes Some Views on American Philanthropy

163

(32)

A. Philanthropy as I See It

165

(4)

William T. Wolf

B. Public Service

169

(6)

Timothy J. Sullivan

C. Tsedakah

175

(4)

Rabbi Marc Lee Raphael

D. Stewardship from a Christian Point of View

179

(4)

Robert G. den Dulk

E. The National Association of Colored Women: An Example of Philanthropy and Voluntarism in the Black Community

183

(6)

Tullia Brown Hamilton, PhD

F. The History of Giving in America

189

(6)

Robert A. Gross

Glossary

195

(10)

Index

205

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