Charitable gift planning is rather essential nowadays. There even exists a Code of ethical practice for all professionals who are busy in the area of charitable gift planning and could help donors to make good decisions.
What is Charitable Gift Planning?
You know, when you deal with charitable gift planning, two basic principles are to be followed. First, a charitable gift should be initiated by the donor who would like to support the work of charitable institutions. Second, the consent of the charity shall be received for both parties (a donor and a charitable organization). Thus, charitable gift planners should be very careful in order to take into consideration the interests of a donor and a charitable institution and eventually to structure gifts that could balance the interests of all the participants.
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A History of Charitable Gift Planning
It is rather important to learn some details about the history of charitable gift planning because it would provide an integrated picture of what is going on in this field. Not only some historical background but also comprehensive study of charitable gift planning in the 20th century, as well as founding and early years of the National Association of Charitable Gift Planners are described by Ronald A. Brown in his book ‘Charitable Gift Planning in Early America’.
The author gives some living proofs of charitable gift planning development in the USA. Some top American leaders gave personal examples of charitable bequests. For example, Benjamin Franklin made generous living wills to provide some charitable gifts to young tradesmen in Boston and Philadelphia. George Washington in his turn, made donations to several colleges, while James Madison made a bequest to the Princeton University Library.
The author also emphasizes that philanthropy could be viewed as a national American feature, In 1788, it was ensured at the legislative level as the Constitution of the United States became the legal foundation for the charitable gift planning through three co-equal branches of government. Some other significant legal factors are mentioned as well. For instance, the author pays the attention of readers to the fact that in order to resist various types of tax abuses, and to protect the opportunity for favorable tax treatment, charitable gifts were limited to four standardized arrangements: charitable remainder unitrusts, charitable remainder annuity trusts, pooled income funds, and charitable gift annuities.
Another important aspect to be the spot of attention is founding and early years of the National Association of Charitable Gift Planners, creating the National Society of Fundraising Executives (NSFRE), a federation of local and regional gift planning councils which was first called the National Committee on Planned Giving (NCPG), and known as National Association of Charitable Gift Planners (NACGP) nowadays.
Key Ideas Of the Book
Ronald A. Brown shows the origins, functions, and missions of some charitable gift planning organizations. For example, the National Association of charitable gift planners helps to promote its members through education, resources, and advocacy. Charitable gift planning professionals get assistance at all levels, including charitable gift planning organizations’ leaders who could determine the field of work and ending with the innovators who will make charitable gift planning popular worldwide. Northern California Planned Giving Council (ncpgc) (www.ncpgcouncil.org) was founded by prominent individuals whose enormous contribution to the Council is really invaluable.
National Association of Charitable Gift Planners
To clarify, a planned giving association or a planned giving council is a popular form of organization that is aimed at helping both individuals and businesses achieve the best beneficial effects in their charitable gift planning activity. So, Planned Giving Council of Northern Florida says that its mission is “to foster awareness and to provide an effective forum for education, communication, networking and collaboration for our gift planning community”. Every national planned giving council or national committee on planned giving, or any other organization of that kind has to encourage responsible charitable gift planning within the law.
National Capital Gift Planning Council (NCGPC) organizes monthly meetings and planned giving roundtables in order to provide educational programming and opportunities for networking in the Washington DC metropolitan area. Their partners are not-for-profit organizations, firms that support the planned giving efforts of these organizations, and many other allied specialists.
Ronald Brown, a graduate of Princeton University and the University of Chicago, a retired commander in the US Navy Reserve, has been a professional fundraiser since 1979. He directed charitable gift planning programs at Princeton University, Columbia University, Fordham University, United Way of America, and the National Wildlife Federation. So, all the information he provides the readers with is rather reliable and sound, and his book could be highly recommended for those who would like to learn more details about charitable gift planning.