guidelines for reporting and counting charitable gifts for reporting and counting ... the guidelines...

© National Committee on Planned Giving® 2006—All rights reserved.

Guidelines for Reportingand CountingCharitable Gifts

Charitable giving made most meaningful.

2nd edition

1© Partnership for Philanthropic Planning, 2009—All rights reserved.

Guidelines for Reporting andCounting Charitable Gifts

Printed in the United States of America by the Partnership for Philanthropic Planning233 McCrea Street, Suite 400 • Indianapolis, IN 46225

Phone: 317-269-6274 • Fax: 317-269-6272 • E-mail: [email protected] • Web Site: www.pppnet.org

This publication is designed to provide accurate and authoritative information in regard to the subjectmatter covered. It is provided with the understanding that the publisher is not engaged in renderinglegal, accounting or other professional services. If legal advice or other professional assistance is required,the services of a competent professional person should be sought.

From a Declaration of Principles jointly adopted by a committee of theAmerican Bar Association and a committee of publishers and associations

2 © Partnership for Philanthropic Planning, 2009—All rights reserved.

Executive Summary

The Guidelines for Reporting and CountingCharitable Gifts recommend that fundraisingcampaigns of whatever duration would be betterstructured, clearer in their expectations, moretransparent in their reporting and more trulycomparable if they were to set three separate andcomplementary goals and report fundraising resultsin these three dimensions:

1. An outright goal for gifts that are usable orwill become usable for institutional purposesduring the “campaign” period (whether one ormore years).

2. Irrevocable deferred gift goals, for giftscommitted during the “campaign” period butusable by the organization at some point afterthe end of the campaign period.

3. Revocable gift goals for gifts solicited andcommitted or pledged during the “campaign”period but in which the donor retains the right tochange the commitment and/or beneficiary.

These guidelines also recommend that charitiesreport their progress toward each of these goalsseparately, using face value numbers.

Key Principles—The guidelines are based uponseveral key principles. Among the most important ofthese are that the guidelines should:

• Be clear, transparent and easily understandableby development professionals as well as thewider audience of staff, volunteers, regulatorsand benefactors.

• Provide a mechanism for comparison amongcharitable organizations based on criteria thatcan be applied comparatively across the broadcharitable community.

• Take into account the considerations of thedonor.

• Focus on counting and reporting, notaccounting, valuation or crediting.

• Recognize that the IRS charitable deductioncalculations were not created for the purpose ofcounting planned gifts and, while valid for taxpurposes, do not offer a way of countingplanned gifts that recognizes the total campaignand development effort.

• Recognize that campaigns are usually finite,often with a multi-year timeframe. We alsorecognize that some organizations conduct aseries of annual campaigns with a structure verysimilar to multi-year campaigns.


The Partnership would like to acknowledge the time,effort and support provided by Chris Yates and hissuccessors as Chair of NCPG, Shari Fox, and JoeBull, by the members of the task force listed below,and by Tanya Howe Johnson, President and CEO,and Barbara Yeager, Director of Operations of thePartnership. We also acknowledge our gratitude toJeff Comfort and his colleagues on the Valuation ofPlanned Gifts Task Force, who spent a great deal oftime over several years wrestling with a highlycomplex and controversial issue. Finally, we wish toacknowledge the leadership and vision of DaveGearhart and his colleagues at the University ofArkansas and the National Capital CampaignCounting Guidelines Committee.

NCPG Task Force Members

Bruce E. Bigelow, ChairCharitable Development Consultant

Guidelines Development

Andrea M. LatchemSenior Philanthropy Advisor, Syracuse University

Scott LumpkinAssociate Vice Chancellor, University of Denver

Steven L. MeyersVice President, American Committee for theWeizmann Institute of Science

James F. NormandinPresident, Memorial Medical Center Foundation

Acknowledgements

Gary DicovitskyVice President, Development & Alumni RelationsCalifornia Institute of Technology

Tanya Howe Johnson (ex-officio)President & CEO, National Committee on PlannedGiving

Review Panel

Debra AshtonPrincipal, Ashton Associates

Laura Hansen DeanPresident & CEO, Community Foundation ofSouthern Indiana

Kevin JohnsonRetriever Development Counsel, LLC

Peter K. KimballDirector of Gift Planning, Harvard Universtiy

Thomas P. LockerbyAssociate Vice President for Capital Giving, BostonCollege

Benjamin P. MadoniaDirector of Planned Giving, Hamilton College

Kathryn MireeKathryn W. Miree & Associates, Inc.

Katelyn L. QuynnExecutive Director of Development, MassachusettsGeneral Hospital

Ronald E. SappRon Sapp & Associates Ltd.

Nelson J. WittenmyerExecutive Director of Gift Planning, Cleveland ClinicFoundation

Of CounselG. David Gearhart, ChairNational Capital Campaign Counting GuidelinesCommitteeChancellor, University of Arkansas

Joseph O. BullSenior Philanthropy Office, The Nature Conservancy


Endorsements

Association of Fundraising Professionals(www.afpnet.org)

Association of Philanthropic Counsel(www.apcinc.org)

National Capital Campaign Counting GuidelinesCommittee ([email protected])

The Partnership offers these guidelines as an optionfor use by charitable organizations in counting and/orreporting charitable gifts to external constituencies.We encourage each organization to implementcounting and reporting procedures that satisfy itsneeds for monitoring and communicating progresstoward fundraising goals.The following organizationshave formally endorsed the Guidelines as a bestpractice for management reporting. If yourorganization would like to endorse the Guidelines,please contact Barbara Yeager at [email protected] (317)269-6274 ext. 12.


Introduction ..................................................... 6Definitions and Distinctions ................................. 8Recommendations ............................................ 9Practical Considerations ....................................10Specific Counting and Reporting Guidelines .........12

Category A: Outright Gifts .......................... 14Pledges ....................................................14Cash ........................................................14Marketable Securities .................................15Closely Held Stock ......................................15Gifts of Property .........................................15Nongovernmental Grants/Contracts ..............15Realized Testamentary Gifts ........................15Realized Retirement Plan Assets ..................15

Category B: Irrevocable Deferred Gifts ...... 16Split Interest Trusts ....................................16Retained Life Estate ...................................16Charitable Lead Trusts ................................16

Contents

Category C: Revocable Deferred Gifts ........ 16Estate Provisions ........................................16Retirement Plan Assets ...............................16

Gifts That May Be Counted inMore Than One Category ............................ 18

Life Insurance............................................18Wholly Charitable Trusts Administered byOthers ......................................................18

Gifts That Change CharacterDuring the Campaign Period........................ 19

Exceptions ......................................................20Conclusion ......................................................20Further Reading...............................................21Sample Reporting Form ....................................22


IntroductionIn March 2005, the National Committee on PlannedGiving (now the Parthership for PhilanthropicPlanning) published the Guidelines for Reporting andCounting Charitable Gifts, the result of nearly twoyears of deliberation, consultation and collaborationby a national task force. Simultaneously, NCPGcontinued a series of conversations with otherorganizations and groups of professional leadersinterested in coming to agreement on commonguidelines that could be used by nonprofitorganizations of all types. Among these organiza-tions is the National Capital Campaign CountingGuidelines Committee, a group of seniordevelopment professionals from across the country.

In each of these conversations, credibility andtransparency arose as the key issues critical to anysector-wide standard. For far too long, boards,executive officers, volunteers and employeescharged with carrying out the mission of charitableorganizations have questioned the validity offundraising reports. Formal campaigns seemed togrow exponentially in size, but the usable dollarsfailed to match the sometimes grandiose announcedcampaign totals. Now, as nonprofit organizationsstrive to comply with the spirit of Sarbanes-Oxleylegislation, and as the public—both those with anintimate knowledge of a particular organization andthose who observe from a distance—view mega-campaigns with increased skepticism, charitableorganizations are seeking new and more trans-parent ways of reporting fundraising results, whilealso recognizing the wide array of gift vehicles andmechanisms now available to donors.

Historical Context

Initially, fundraising campaigns were focused effortsdesigned to accomplish one specific project, almostalways a capital building, expansion or renovationproject. In the early days of campaigns, organ-izations would often employ outside fundraisingcounsel, who would organize a team of volunteers,solicit businesses and individuals in the communityor within the organization’s easily identified con-stituency, and raise the funds. Campaigns werefocused on cash gifts only, were relatively short induration, were “unusual” events in the life of theorganization, and were staffed by volunteersdirected by an outside fundraising professionalbrought in specifically for that purpose. Fewcharities employed full-time development officers.

As organizations began to build their own internalfundraising resources and increasingly focused onraising money every year, they began to think aboutcampaigns in new ways. Campaigns became annualefforts with articulated goals, and increasingly multi-year efforts in which long-term relationships withdonors played a far more important role than theyhad earlier. For that reason, professional stafffundraisers have become heavily involved in thedirect face-to-face solicitation process. Whilevolunteers continue to play a vital role, staffmembers have increasingly taken the lead inorganizing and conducting campaigns.

Second, charities moved from single-project focus toa more comprehensive effort, in which all the needsof the organization—capital, endowment and currentoperating—were folded into the campaign structure.

Third, charities are always in a quasi-campaignmode. Even if organizations are not in a formalcampaign, they are raising as much money as theycan for the on-going priorities of the institution;there is no let-down or “rest period” betweenprojects as there used to be.

Finally, charitable organizations recognized that notall assets come in the form of cash, and that bothnon-cash assets and new and more complexmethods of transferring those assets would increaseaccess to more and larger gifts. Planned givingbecame an important part of successful fundraisingcampaigns, whether the annual campaign orthemore highly visible multi-year comprehensivecampaign.


Even as this evolution in campaign definitions tookplace, the actual structure of campaigns remainedstatic. Organizations continued to set a singlefinancial goal and to operate under the premise thatall gifts, no matter what kind or what character,could be counted and reported in a way that wouldbe recognized as equivalent to all other gifts. Thisparadigm has limited the ability to structurecampaigns in ways that will attract the largest gifts.It has circumscribed the capacity to explain in clearand transparent ways the various types of gifts thatmake up campaigns. It has also limited the ability tofocus on real results across the broad spectrum ofgift options. These guidelines recommend a newparadigm for structuring both annual and multi-yearcampaigns and for counting and reporting giftswithin those campaigns.

A Note About Transparency

Transparency in reporting standards is a function ofaccuracy, completeness and clarity. These countingguidelines address all three dimensions.

In the past, many organizations have reportedcampaign progress using complex formulae forderiving net present value of gifts and giftcommitments. Unfortunately, individuals andorganizations differ on the appropriate formulae touse, and the results rarely reflect the actual value ofa gift to an organization. The guidelines focus on thecharacter of the gift, placing commitments in threeeasily recognized and unambiguous categories. Bynot mixing these types of commitments, theguidelines accurately reflect the results of anorganization’s development activities. Organizationsthat choose to combine the three categories into asingle campaign total risk obscuring the real natureof the organization’s philanthropic support.

Second, these guidelines account for allcommitments made during the campaign period, notsimply those for which the donor received animmediate tax deduction. Bequest commitments andother deferred gifts, whether revocable orirrevocable, are all part of the goals of a completefundraising program, and should be reported. Thefact that they do not represent money “in hand” isunambiguously presented by the three-categoryreporting structure.

Finally, the guidelines strive for clarity. Donors,boards of trustees, administrative staff, facultymembers and other constituencies often care littlefor the fine distinctions of the accounting profession.Reports of fundraising activity should reflect clearlythe activity that has transpired and its results. Byreporting three complementary but separatecategories, these guidelines emphasize that clarity.They speak the same language that donors usewhen they make their gifts, and that other groupsspeak when they issue reports.


Counting and Reporting: Counting and reportingare arithmetic activities. Counting is the numericsummary of activity, results and progress towardgoals. Reporting is the process of conveying to a layaudience clearly and transparently what hashappened during a specific timeframe.

Accounting: Accounting is a process of keepingfinancial books based on a set of generally acceptedguidelines and principles, in order to present a fair,comparable and understandable picture of anorganization’s financial state at any given time.

Valuation: Valuation is an assessment of the actualvalue of an item to the person or organization thatpossesses it. Value may be determined by anynumber of methods and may reflect net presentvalue, the future purchasing value, or even asubjective value based on non-financialconsiderations, such as the impact on marketing orthe ability of a specific gift to attract others in itswake. The Valuation Standards for CharitablePlanned Gifts define valuation as a reflection of thepresent value of the ultimate purchasing power ofthe gift.

Crediting: Crediting is institution-specific andrepresents the way each organization grantsrecognition to its donors. It is up to each institutionto set its own standards and requirements fordocumenting commitments. For example, someorganizations require written confirmation of abequest provision while others rely solely on adonor’s verbal commitment. Such recognition need

Definitions andDistinctions

not stem from any of the factors of counting andreporting, accounting or valuation, although a givenorganization may use any of these calculations asthe basis of its donor recognition policies.

Campaign: Our use of the term “campaign” simplyrecognizes that charitable organizations reportresults in definitive time segments. Mostorganizations report on an annual basis and,because all gifts that are committed that year arecounted, those organizations may be said to be in anannual “campaign.” Periodically, some organizationsplace a longer multi-year “campaign” umbrella overtheir fundraising activities and may report giftscommitted during this longer period. Throughout theguidelines, we use the term “reporting period” toencompass traditional multi-year campaigns andother time frames in which a nonprofit elects toreport fundraising activity. When charities elect toenter multi-year campaigns, they will, as they docurrently, prepare two complementary reports, oneof annual activity and one for the multi-year effort.Further clarification is on Page 6 of this report.

Distinction Among Counting, Valuing andCrediting: Confusion of the terms and processesrelated to “counting,” “valuing” and “crediting” isvery common. In general:

1. Counting provides a way in which all charitiescan record what they do, so that they can reporttheir activity and results clearly to the public,compare results and measure against clearlyarticulated and unambiguous goals.

2. Counting provides a way to measure the intentof the donor, since most donors focus on thedollar amount of their commitment at the timethey decide to make it, and not on the net valueto the charity in an ultimate sense. All gifts,revocable and irrevocable, current and deferred,should therefore be counted.

3. Counting complements valuation, which is aninstitution-specific calculation and measures thevalue to that organization of the total gifttransaction over time. These Guidelines forReporting and Counting Charitable Gifts arecompatible with the Valuation Standards forCharitable Planned Gifts and should be used ascomplementary tools. See list of suggestedreadings for this report.

4. Counting commitments and reporting them areexternal processes, intended for public


Recommendations

Campaigns and other fundraising efforts would bebetter structured, clearer in their expectations,more transparent in their reporting and more trulycomparable among organizations if they begin withthree complementary goals:

1. Category A: An outright goal for gifts thatare usable or will become usable for institutionalpurposes during the reporting period (whetherone or more years).

2. Category B: An irrevocable deferred giftgoal for gifts committed during the reportingperiod but usable by the organization at somepoint after the end of the period.

3. Category C: A revocable deferred giftgoal for gifts solicited and committed during thereporting period but in which the donor retainsthe right to change the commitment and/orbeneficiary.

These three categories should guide both the goalscharitable organizations set at the beginning of theircampaigns, and the reporting of results during thecampaign period. In this way, organizations canmeasure results against aspirations, and canarticulate clearly and definitively that all three typesof gift commitments are crucial to achievingcharitable mission. By setting clear goals in each ofthese categories from the beginning of a campaign,organizations can move more directly toconversations with donors about potential gifts toeach of the three complementary goals. The “three-tiered” ask becomes a natural part of the campaigneffort.

Charities should report progress toward these goalsusing face value data. Because these guidelinesfocus on reporting and not valuation, the specifics ofeach gift, like the age of the donor or the payoutrate from a life income arrangement, are notrelevant factors. Charities should report thenumbers as a record of activity. So long as charitiesassociate the reported numbers with the compar-able goal or category of activity, there should be noconfusion about the meaning of the data.

By establishing three goals, confusion about countingwill diminish, staff and volunteers alike will have aclearer sense of their focus, and reports will notattempt to mix gifts that are intrinsically difficult tocombine into a single accurately reportable number.These guidelines specifically do not offer a method-ology that purports to compare commitments fromdifferent categories that are inherently different incharacter. Categorical goals reflect, much betterthan a single goal, the true nature of campaigns andannual fundraising efforts as they currently exist.

Charitable administrators should “count” towardtheir stated goal in each of the three categories onlynew commitments made during that reportingperiod. However, we recommend that charitiesreport all charitable receipts or changes incommitments that affect the financial state of thecharity, even when these are not counted towardcampaign goals. The sample reporting form (page22) provides a separate column for reportingcommitments that have changed in character duringa reporting period, like trusts or annuities that havematured or revocable commitments that havebecome irrevocable. For use in a campaign context,the sample reporting form also includes a columnfor reporting matured gifts that were committed andcounted toward the goals of a previous campaign.

The breakdowns suggested in the sample reportingform are intended for internal reporting clarity. Werecommend that only the summary results in thethree major categories should be reported toexternal constituencies.

information and comparison amongorganizations, while valuation is an internalprocess, based on the factors peculiar to eachorganization’s investment and financialexperience.

5. Likewise, crediting a particular donor’s gift is aninternal process dependent on eachorganization’s history, mission and policies.


PracticalConsiderations

their activities or creating layers of complexity thatlook to many like obfuscation. Such campaigns arelike the fruit seller who tells his auditors that he has100 pieces of fruit in his inventory. This may be true,but it says nothing about how many pieces are ripe(i.e., can be consumed today), how many need towait for some time until they are edible, how manymight spoil after a while if not used, or how manyhe will get tomorrow from the delivery cart—andcertainly it says nothing about the number ofindividual apples, oranges or bananas. Theseguidelines will enable charities to articulate clearlywhat resources are available in what timeframesand thus eliminate the increasing confusion thatclouds a uninumeric system of reporting.

These guidelines establish a method ofcomparability among nonprofits.

Just as “value” is an internal process that may relyon factors that are unique to each nonprofit and istherefore non-comparable, “counting” is an externalprocess that should enable comparability acrossinstitutional lines. Using the IRS tax calculationformulae to ensure comparability takes into accountonly some fundraising activities and leaves out alarge segment of the fundraising results. A muchmore straightforward focus on reporting, makingsure that the results are categorized appropriately,achieves comparability by setting a structure andmultiple goals at the beginning of the process, so itis easy to see how many annuities were written, atwhat face value this year, as opposed to last, or asopposed to other organizations. It is important tounderstand that the guidelines stress comparabilityof results, not comparability of value. In countingand reporting charitable gifts, there should be noconfusion between gifts usable today, gifts guaran-teed but postponed until a future date and gifts thatare of potentially great value down the road, butthat require continued stewardship. All theseactivities take time, resources and attention. Allshould be part of the reported activities andachievements of fundraising programs.

These guidelines enable organizations tocount and report ALL gifts and commitments.

These guidelines allow charitable organizations torecognize all the activity of staff, volunteers anddonors, not simply those measured by tax consid-erations. In particular, they measure progresstoward goals associated with revocable commit-ments, with gifts with uncertain outcomes likequalified retirement plans or insurance gifts and withgifts from intermediary organizations like donoradvised funds or supporting organizations, all ofwhich can easily be overlooked or even lost if IRSguidelines alone are used as the counting standard.A complete fundraising operation focuses on all ofthese gifts, as well as irrevocable outright anddeferred gifts. The only way to recognize andencourage such gifts is to set goals and reportprogress toward those goals. All gifts should be partof any campaign and all should, therefore, bereported. This is true whether the organization islooking at an annual fundraising plan or a multi-yearcampaign.

These guidelines improve the ability to reportclearly the results of fundraising activity.

One of the most difficult tasks for developmentoffices in recent years has been to report resultsclearly to boards, to others within the organizationand to the public. By trying to force all developmentactivity into a single number, fundraisers have faceda challenge of credibility by either oversimplifying


These guidelines reinforce the methodologythat many charities already use to count giftsand keep records of their activities.

These guidelines build on the successful record ofcharities that already use these methods, althoughthey have generally been used only to articulate andmeasure personal or collective staff activity forinternal evaluation purposes. The Partnershipbelieves that charities will be more successful if theymeasure their activities and set public goals for bothannual and multi-year fundraising efforts using thesecategories.

These guidelines will report a gift only once asa campaign commitment. Organizations maywish to report the maturation of commitmentscounted in a previous campaign, not as newgifts, but rather to articulate the total impactof the development effort on theorganization.

We all recognize that gifts sometimes come to acharity through a series of steps: bequest intentionto matured distribution or charitable trust to trustmaturation, etc. The report of activity should reflecteach gift only once in a given campaign.Organizations will wish to note changes in giftcharacter within a campaign, but if a gift that iscommitted in one campaign acutally matures afterthe campaign has ended, the matured gift shouldnot be counted as a new gift in a new campaign.

Our reporting worksheet allows charitiesdifferentiate in their reports between newcommitments and commitments from previouscampaigns that have changed in character (seepage 22). In this way, charities will convey all theinformation about the ways development activityaffects the financial state (both present and future)of the institution without appearing to count thesame gift twice.

These guidelines are designed to focus on thecharacter of the commitment, NOT on the source ofthe commitment (individual, corporation, foundation,etc.) or on the purpose of the commitment (annualoperating costs, endowment, buildings renovation,program support, etc.). We recognize that mostcharities will also want to track these characteristicsof their gifts and commitments, as most do now.

These guidelines acknowledge the perspectiveof the donor.

While donors are clearly interested in the IRS valuefor tax purposes, most donors focus more on thedollar value of their gift at the time they make it thanon the ultimate net present value to the charity.There are exceptions, but most donors would notmake gifts if they did not intend the gifts to be ofvalue to the organization. All gifts, revocable andirrevocable, current and deferred, should, therefore,be reported.

These guidelines aid charities in establishingpublic goals for fundraising, and provide themaximum opportunity for charities to offergiving options to donors.

Many charities currently employ what has becomeknown as the “triple ask” in their regular interactionwith major donors. These guidelines offer a soundinstitutional foundation to present such a givingopportunity. By establishing three interlocking butseparate goals—for outright gifts, for deferredirrevocable gifts and for revocable gifts—the “tripleask” becomes part of the charity’s regular appeal.Donors are less likely to feel harassed by multipleappeals, and more likely to understand the ways inwhich these three methods of giving complementrather than compete with one another.

These guidelines clarify that both valuationand crediting processes are related to, butseparate from counting.

The Valuation Standards for Charitable Planned Giftsoffer one method for determining the futurepurchasing power that a planned gift will have whenit is received and used for its charitable purpose.Crediting is the way each organization recognizes itsdonors. Counting is an arithmetic activity—thenumeric summary of activity, results and progresstoward goals. Charities should be clear on whatmethodology they are using, and for what purpose.


Specific Countingand ReportingGuidelines

FUNDAMENTAL PRINCIPLES OF CAMPAIGN

COUNTING

These principles apply specifically to organizationsplanning comprehensive multi-year campaigns. All ofthese recommendations follow from the paradigmset forth previously in this report.

1. The following basic principles for countinggifts should be used for the campaign:

a. Only those gifts and pledges actuallyreceived or committed during the period of timeidentified for the campaign should be counted incampaign totals.

b. The advance-gifts phase is part of thedesignated campaign period, and commitmentsreported for this phase should actually havebeen received or pledged during this specifiedperiod within the campaign timeframe. Definingthe advance-gifts phase as part of the campaignperiod will also help ensure that so called “reachback” gifts are not counted. Gifts made incontemplation of a campaign (i.e., gifts forspecifically defined campaign priority projectscommitted before the advance gift phase) mustbe acknowledged on all campaign reports.

c. Gifts and pledges may be counted to onlyone campaign. Organizations may also wish tonote maturations of commitments made to aprevious campaign, but these should not beconfused with new commitments secured during

the campaign (see the sample reporting formon page 22). The value of canceled or unfulfilledpledges should be subtracted from campaigntotals when it is determined they will not berealized.

d. If a commitment recorded in Category C(revocable commitments) in a previouscampaign without a dollar figure or with only anominal figure attached to it is realized in acurrent campaign, it should be recorded inCategory A (outright gifts) as a current gift.

2. Campaign Period: All gifts and pledges to thecampaign and affiliated entities acting on itsbehalf during the campaign period should becounted in accordance with these Guidelines.The “campaign period” refers to the total timeencompassed by the active solicitation period forthe campaign, including the advance-giftsphase. The normal length of a campaign issuggested to be no more than seven years.Should the campaign period exceed sevenyears, the expanded period should be noted onall campaign reports, news releases andmarketing materials.

3. Pledge Payment Period: The pledgepayment period should not exceed five years forcommitments counted in Category A, and ifexceptions are approved by the OversightCommittee, the exceptions should beenumerated in campaign reports.

4. When to Report Gifts: Outright gifts shouldbe reported only when assets are transferredirrevocably to the institution. Deferred irrevoc-able gifts should be reported only when assetsare transferred to the gift instrument. Revocablecommitments should be reported when the giftinstrument is executed and sufficientdocumentation is received by the charity.

5. Annual Reporting within a Multi-YearCampaign: Many charities “bundle” theirannual fundraising activities into a morecomprehensive multi-year effort. Just asorganizations now report annual results as asubset in the midst of a multi-year process (andthus keep two sets of complementary “books”),so could charities use these guidelines to reportactivities in both an annual “campaign” and amulti-year “campaign.”


c. Earned income, including transfer paymentsfrom medical or analogous practice plans.

d. Surplus income transfers from ticket-basedoperations, except for any amount equal tothatpermitted as a charitable deduction by theIRS/Revenue Canada.

e. Contract revenues.

f. Government funds.

(1) We recognize that certain state andfederal government programs requiringprivate matching funds bear a specialrelationship to the encouragement ofphilanthropy. Nevertheless, the differencebetween public and private support isprofound within the American tradition.Campaigns are clearly instruments ofphilanthropy, while governments are usuallychannels for the implementation of publicpolicy. There are instances, however, inwhich government-funded agencies act likeprivate foundations in their competition andaward process (e.g., NEH, NSF, FIPSE).Proposals to these agencies requireattention and effort by developmentprofessionals in much the same way as doprivate foundations.

(2) As a way of recognizing both thepotential slippery slope of countinggovernment generated funds of any kindand the legitimate development work thatgoes into generating grants from certaingovernment agencies as noted above, werecommend that charitable organizationsinclude these qualified grants as anaddendum to their regular periodic report ofactivity (similar to matured deferred gifts)but that they not count them as part of thereport of private giving. Again, the key isclarity and transparency.

8. What to Report: All gifts, pledges andcommitments falling into categories covered bythese standards may be reported. However, inkeeping with the spirit of these standards, it isnever appropriate to set a single overallcampaign goal or to report only one numberwhen announcing campaign results.

6. Reporting of maturations of previouscommitments: So often, developmentprograms receive little recognition for theultimate maturations of irrevocable andrevocable deferred gifts. Development staffmay not even know when these gifts havematured. This is particularly true for lifeincome gifts—trusts, annuities and PIF funds—but sometimes also for distributions from lifeinsurance contracts or qualified retirementplans. These matured distributions, however,have direct impact on the financial welfare ofthe organization. While we do not recommendthat organizations count these matureddistributions in campaign totals if they hadbeen counted in a previous campaign, we dorecommend that development operationsreport to boards and other key constituentswhen these distributions occur (see page 22for the recommended procedure).

All too often, executives and board memberssee the numbers when commitments aremade, but lose track of the ultimate benefitswhen distributions take place. Closing thecircle by reporting these results separatelyfrom new commitments will provide a morewell-rounded picture of the impact of theentire development program on the institutionand reinforce the understanding of thoseoutside of the development office about thethree dimensional and long term benefits ofthe work they are doing.

7. Exclusions: The following types of funds areexcluded from campaign totals.

a. Gifts or pledges, outright and deferred, tothe extent that they have already been countedin previous campaigns, even if realized duringthe campaign-reporting period. (Maturedcommitments from previous campaign aretracked separately on the campaign reportingform; see page 22).

b. Investment earnings on gifts, even ifaccrued during the campaign reporting periodand even if required within the terms specifiedby a donor (the only exception permitted tothis exclusion would be interest accumulationscounted in guaranteed investment instrumentsthat mature within the timeframe of thecampaign, such as zero coupon bonds).


CATEGORY A: OUTRIGHT GIFTS

1. Definition: Gifts that are usable or will becomeusable for institutional purposes during thereporting period, whether one or more years.Examples include:

a. Cashb. Marketable securitiesc. Other current gifts of non-cash assetsd. Irrevocable pledges collectible during the

reporting periode. The gift portion of bargain salesf. Lead trust distributions received during the

reporting periodg. Cash value of life insurance owned by the

charity (net of policy loans)h. Realized life insurance or retirement plan

benefits in excess of the amounts reportedin previous campaigns

i. Realized bequests in excess of the amountsreported in previous campaigns

2. Pledges: Pledges are counted upon receipt ofthe written pledge, provided the pledge is inaccord with these guidelines.

a. Pledges to make outright gifts: Suchpledges should be written and should commit toa specific dollar amount that will be paidaccording to a fixed time schedule. The pledgepayment period, regardless of when the pledgeis made, should not exceed five years.Therefore, a pledge received even on the lastday of the campaign is counted in campaigntotals and may be paid over a five-year period.

b. Oral Pledges: Oral pledges should not bereported in campaign totals. On the rareoccasion when an exception is warranted, theorganization should write to the individualmaking an oral pledge to document thecommitment, place a copy of the confirmation inthe donor’s file and gain specific writtenapproval from the oversight committee.

3. Guidelines for reporting specific types ofassets

a. Cash: Report cash at full value as of thedate received by the institution.

As a minimum, the following results should beavailable for reporting:

a. The total of outright gifts and pledgesreceived, reported at face value, and payablewithin the campaign period and post-campaignaccounting period, as specified in the campaignplan.

b. The total of irrevocable deferredcommitments, which will be received at anundetermined time in the future, reported atface value.

c. The total of revocable deferredcommitments, which will be received at anundetermined time in the future, reported atestimated current value or, if the campaign goalso stipulates, reported as the number of newrevocable commitments regardless of estimatedvalue.


shall be counted at their fair-market value.

(2) Caution should be exercised to ensurethat only gifts that are convertible to cash orthat are of actual direct value to theinstitution are included in value are treatedlike other gifts-in-kind, but so called megagifts of software and hardware may requirespecial care. These types of gifts can beespecially complex, and institutions shouldexercise extreme caution in counting thesegifts in campaign totals.) Gifts with fair-market value exceeding $5,000 should becounted at the value placed on them byqualified independent appraiser as requiredby the IRS for valuing non cash charitablecontributions. Gifts of $5,000 and under maybe reported at the value declared by thedonor or placed on them by a qualifiedexpert.

e. Nongovernmental Grants andContracts: Grant income from private,nongovernmental sources should be reported;contract revenue should be excluded. Thedifference between a private grant and contractshould be judged on the basis of the intention ofthe awarding agency and the legal obligationincurred by an institution in accepting theaward. A grant is bestowed voluntarily, withoutexpectation of any tangible compensation. It isdonative in nature. A contract carries an explicitquid pro quo relationship between the sourceand the institution.

f. Realized Testamentary Gifts: Allbequests realized during the defined duration ofthe campaign should be counted at full value incampaign totals, insofar as the amount receivedexceeds commitments counted in a previouscampaign. If a revocable testamentarycommitment made during the current campaignand counted in Category C matures during thesame campaign period, it should be removedfrom Category C and included as an outright giftin category A.

g. Realized Retirement Plan Assets: Allgifts of retirement plan assets realized duringthe defined duration of the campaign should becounted at full face value in campaign totals tothe extent the gift was not counted as acommitment in a previous campaign.

b. Marketable Securities: Marketablesecurities should be counted at the average ofthe high and low quoted selling prices on the giftdate (the date the donor relinquished dominionand control of the assets in favor of theinstitution). If there were not any actual tradeson the gift date, the fair-market value can becomputed using the weighted average of themean of the high and low trading prices on adate before and a date after the gift date, ifthose dates are a reasonable number of daysbefore and after the actual gift date. If therewere no actual trades in a reasonable numberof days before and after the gift date, then thefair-market value is computed based on theaverage of the bid and the ask price on the giftdate. Exactly when dominion and control hasbeen relinquished by a donor depends on themethod of delivery of the securities to thedonee. These reporting standards do notaddress the multitude of tax rules regarding thedelivery of securities by the donor to the donee.

c. Closely Held Stock:

(1) Gifts of closely held stock exceeding$10,000 in value should be reported at thefair-market value placed on them by aqualified independent appraiser as requiredby the IRS for valuing gifts of non-publiclytraded stock. Gifts of $10,000 or less maybe valued at the per-share cash purchaseprice of the closest transaction. Normally,this transaction will be the redemption ofthe stock by the corporation.

(2) If no redemption is consummatedduring the reporting period, a gift of closelyheld stock may be credited to campaigntotals at the value determined by a qualifiedindependent appraiser. For a gift of $10,000or less, when no redemption has occurredduring the reporting period, an independentCPA who maintains the books for a closelyheld corporation is deemed to be qualifiedto value the stock of the corporation.

d. Gifts of Property:

(1) Gifts of real and personal property thatqualify for a charitable deduction should becounted at their full fair-market value. Gifts-in-kind, such as equipment and software,


retains the right to change the commitment and/or beneficiary. Examples include:

a. Estate provisions, either from a will or aliving trust.b. Charitable remainder trusts in which thedonor retains the right to change the beneficiarydesignation. When additions are made to giftsthat have been counted in previouscampaign(s), the additions can be counted inthe current campaign.c. IRAs or other retirement plan assetsin which the charitable beneficiary’s interestremains revocable by the donord. Life insurance in which the donorretains ownership (face value less any policyloans) and in which charity is owner butpremiums remain due.e. The portion of Donor Advised Fundassets due to the charity in which the charity isthe owner of the DAF program.f. Other revocable pledges

2. It is difficult to put specific numbers on certainrevocable commitments whose ultimatematuration value is uncertain. The numbersreported in Category C may at best be estimatesand should reflect both conservative andrealistic understanding of each donor’scircumstances. Commitments counted nominallyin category C (for example, at $1, because thecharity had no information about the value) canbe counted at full value in category A if theymature in a later campaign.

3. Age Minimums:

a. Some organizations have set a minimumage limit (often 65 or 70) for counting revocablecommitments in a formal campaign. The agelimit was considered necessary due to the lackof transparency in campaign counting and thefear that inclusion of revocable commitmentsunlikely to mature within a “reasonable” timeafter the end of the campaign could mislead thepublic about the current benefits derived fromcampaign activity. We recognize the importanceof this issue and organizations should exercisediscretion to determine if age limits are morecomfortable for their circumstances.

CATEGORY B: IRREVOCABLE DEFERRED GIFTS

1. Definition: Gifts committed during thereporting period, but usable by the organizationat some point after the end of the period.Examples include:

a. Split interest gifts such as charitable giftannuities, pooled income fund shares andcharitable remainder trusts in which thebeneficiary designation is irrevocable.b. Life estatesc. Death benefit of paid up life insurancein which the charity is both owner andbeneficiary.d. Irrevocable testamentary pledges orcontract to make a wille. Lead trust distributions to be madeafter the reporting period

2. Charitable Remainder Trusts, GiftAnnuities and Pooled-Income Funds:Gifts made to establish charitable remaindertrusts (including charitable remainder trustsadministered outside the institution) where theremainder is not subject to change orrevocation, gift annuities and contributions topooled income funds should be credited tocampaign totals at face value. When additionsare made to gifts that have been counted inprevious campaign(s), the additions can becounted in the current campaign.

3. Remainder Interest in a Residence orFarm with Retained Life Estate: A gift of aremainder interest in a personal residence orfarm should be counted at the face value.

4. Charitable Lead Trusts:Charitable lead trusts are gifts in trust that payan income to the charity over a period of time.These payments should be counted in CategoryA for amounts received during the campaignperiod. The remainder of the income stream tobe received by the charity should be counted inCategory B.

CATEGORY C: REVOCABLE DEFERRED GIFTS

1. Definition: Gifts solicited and committed duringthe reporting period, but which the donor


binding document, tested in the courts ofseveral states, that places an obligation onthe estate of the issuer to transfer a certainamount to the institution. Under suchagreements, the executor of the donor’sestate is held legally responsible forpayment of the specified amount from theestate.

c. The campaign will carefully investigate theactual circumstances underlying the estate andbe conservative in counting such commitmentstoward campaign totals. If any circumstancesshould make it unlikely that the amount pledgedby bequest will actually be realized by theorganization, then the commitment should befurther adjusted according to specificcircumstances, or not reported at all.

5. Retirement Plan Assets:

a. The organization may be named as thebeneficiary of retirement plan assets. Atestamentary pledge of retirement plan assetsshall be included in campaign totals if thefollowing requirements have been satisfied:

b. There must be a means to establish acredible estimate of the value of the retirementplan account at the time the commitment ismade.

(Note: The decision about whether or not thesetypes of gifts should be given campaign credit isoften based on the value of the retirement planassets at the death of the donor. At best, thisrequires a judgment call to be made by thecampaign managers after conversation with thedonor and his/her advisor.)

c. Have verification of the commitment in theform of a letter from the donor or the donor’sadvisor affirming the commitment.

d. The campaign will investigate carefully theactual circumstances underlying the plan and beconservative in counting such commitmentstoward campaign totals. If any circumstancesshould make it unlikely that the amount pledgedwill actually be realized by the organization,then the commitment should be further adjustedaccording to specific circumstances, or notreported at all.

b. However, setting age limits is not deemednecessary in these guidelines for two reasons.First, setting initial goals that differentiaterevocable deferred commitments from otherimmediate or irrevocable deferred gifts providesa level of transparency sufficient to eliminate theneed to explain the uncertainty of timing, natureand extent of the commitment. Second,revocable deferred commitments are often onlythe first major commitment a donor makes to anonprofit organization. Those who make suchcommitments, no matter what their age, rarelyremove a charity if they are properly stewarded.And those who make such commitments oftenmake additional commitments that are irrevoc-able and frequently immediate. Accordingly,campaigns should recognize all who make suchcommitments. These guidelines allow charitableorganizations to be clear about the nature of arevocable deferred gift and differentiate suchcommitments from gifts that have moreimmediate impact on the institution.

4. Estate Provisions: To include estateprovisions in campaign totals, the followingrequirements must be satisfied:

a. The commitment should specify an amountto be distributed to the organization or, if apercentage of the estate or a trust, specify acredible estimate of the value of the estate atthe time the commitment is made.

(Note: The decision about whether or not thesetypes of gifts should be given campaign credit isoften based on the value of the estate. At best,this requires a judgment call to be made by thecampaign managers after conversation with thedonor and his/her advisor.)

b. Have verification of the commitment throughone of the following forms:

(1) A letter or agreement from the donor ordonor’s advisor affirming the commitment.

(2) Copy of will

(3) Notification form provided by thecharity, signed by donor or advisor

(4) Charitable/Deferred Pledge Agreement.A deferred pledge agreement is a legally


similar in that sense to an endowment fund, it iscreated as a freestanding entity.

b. The fair-market value of the assets, or aportion of the assets, of such a trust admin-istered by an outside fiduciary should becounted in Category A, in the “gifts and pledges”section of campaign totals, for the year in whichthe trust is established, provided that theinstitution has an irrevocable right to all or apredetermined portion of the income of thetrust. If the trustee retains or is awarded theright to designate or alter the incomebeneficiary, only the income should be reportedand then only as it distributed.

c. In cases where less than the entire incomeof the trust is to be distributed to the institution,the amount to be reported is the income to bedistributed to the institution over the totalincome (or the stated percentage to be distrib-uted, if the trust terms spell this out as apercentage) multiplied by the value of the trustassets. The income of the trust, thereafter, isreported as a gift.

d. Community and Private Foundations:Gifts to community foundations, the incomefrom which is irrevocably designated, in wholeor in part, to the organization, and privatefoundations established solely to benefit theorganization or where the organization is toreceive a specified percentage of the annualincome each year, are two examples of whollycharitable trusts administered by others. (Giftrecognition credit will generally be given to thefoundation, although the original donors or theirfamilies should certainly be kept apprised of thedistributions if at all possible.)

e. Donor-Advised Funds: Donor-advisedfunds are IRS-approved public charitiesgenerally managed by investment companiesand community foundations that serve asconduits for gifts. The donor’s contribution ismade to the fund. The donor reserves the rightto suggest which charities should receive theannual income. Funds will be counted like anyother gift as received. If a charitable organ-ization is entitled to receive a certain percent-age of the annual distributions of a DAF, it maycount the value of that percentage as if it werean irrevocable trust administered by others.

GIFTS THAT MAY BE COUNTED IN MORE THAN

ONE CATEGORY, DEPENDING ON THE

CIRCUMSTANCES

1. Life Insurance: To include commitments oflife insurance in campaign totals, the followingrequirements must be satisfied.

a. Ownership:

(1) The organization should be made theowner and irrevocable beneficiary of gifts ofall new policies, paid-up policies andexisting policies that are not fully paid up.(2) If the organization is the beneficiaryonly and not the owner of a policy, giftcredit will be given but only in Category C,in the same way as credit is given to anyother revocable gift commitment(3) The remainder of these guidelinesassume that the charity is the owner of thepolicy.

b. Paid-up Life Insurance Policies: Countedat face value in Category B.

c. Existing Policies/Not Fully Paid Up: A lifeinsurance policy that is not fully paid up on thedate of contribution, which is given to theinstitution during the campaign, should becounted at face value only in Category C.

d. New Policies: Face amount of thesepolicies should be counted in Category C.

e. Realized Death Benefits. The insurancecompany’s settlement amount for an insurancepolicy whose death benefit is realized during thecampaign period, whether the policy is ownedby the institution or not, should be counted incampaign totals, less amounts previouslycounted in former campaigns.

2. Wholly Charitable Trusts Administered byOthers:

a. A wholly charitable trust is one that is heldfor the irrevocable benefit of charity, where theprincipal is invested and the income is distrib-uted to charitable organizations. All interests inincome and principal are irrevocably dedicatedto charitable purposes (as opposed to acharitable remainder or lead trust). While it is


GIFTS THAT CHANGE CHARACTER DURING ACAMPAIGN PERIOD

1. All campaigns, even those with twelve monthduration, face the dilemma of reportingcommitments that change character during thecampaign period. The important point of theseguidelines is that a commitment should, at theend of the campaign period, be reported onlyonce and should reflect the final (or mostrecent) form of the commitment.

2. Example: It is possible for a donor to establishan irrevocable deferred gift or a revocable giftcommitment that would be reported inCategories B or C, and then, for that gift tomature within the same campaign. In suchcases, we recommend that the cumulativecampaign report recognize the gift only inCategory A, and that any previous interimreport of the gift in Categories B or C bedeleted. The annual report would note thischange as well.

3. A donor creates a charitable remainder trustbut retains the right to change the remainderbeneficiary. That commitment would appear inCategory C. If, later in the campaign period, thedonor made the remainder beneficiaryirrevocable, the commitment would shift in thecumulative campaign report to Category B andbe removed from Category C. The annualreport would note the shift as well.

4. Example: A charity receives a 20-yearcharitable lead trust paying $10,000 per year($200,000 in total) in the first year of a five-yearcomprehensive campaign. The annual report inyear one will note $10,000 (the amount actuallyreceived that year) in Category A and $190,000in Category B. The cumulative comprehensivecampaign report (covering all five years) willreport $50,000 in Category A (the amountcommitted and to be received during thecampaign period) and $150,000 in Category B.

In years two through five, the annual report willagain count a $10,000 cash gift with a note thatthis commitment had previously been reportedin Category B. There would be no furtherreporting in the annual report for the Category Bportion of the gift, since there had been no new

commitment in year two. This example isillustrated in the following chart:

20-YEAR LEAD TRUST PAYING $10,000/YEAR

Year 1: Annual 5-Year Campaign

$10K in Cat A $50K in Cat A$190K in Cat B $150K in Cat B

Years 2-5: Annual 5-Year Campaign

$10K in Cat A Same as beforewith note

$0 in Cat B

5. Finally, we should note again that werecommend charitable organizations report thecash distributions from commitments counted inprevious campaigns, but that they not countthese distributions toward “new” campaigngoals. We do believe, however, that completingthe cycle by noting to boards and internalmanagers the ultimate cash benefit of deferredcommitments is an important part of thedevelopment reporting process. See page 22 forrecommendations regarding the reporting ofmatured commitments from previouscampaigns.


These guidelines recommend a method forreporting gift planning activity and results moreclearly and more effectively than in the past. Werecognize that the real test for these or any set ofguidelines will be how this reporting structureoperates in practice. Therefore, we encouragecharitable organizations to share with thePartnership their experiences in using theseguidelines.

ConclusionExceptionsAn appropriate campaign oversight committee willhave the authority to make exceptions to theforegoing for good cause on a case-by-case basis.


Further ReadingComfort, Jeff. “Counting Planned Gifts: A TripThrough the Looking Glass,” The Journal of GiftPlanning, Vol. 3, No. 4, 4th QTR 1999. p 25.

Council for Advancement and Support of Education,Management and Reporting Standards, Standardsfor Annual Giving and Campaigns in EducationalFund Raising, Third Edition. 2004.

Gearhart, G. David. Philanthropy, Fundraising, andthe Capital Campaign, Washington, D.C.: NACUBO,2005.

Samers, William, and Steven Meyers. “Counting vs.Valuing: Talking about Numbers to the People WhoCount,” The Journal of Gift Planning, Vol. 8, No. 1,1st QTR 2004. p. 11.

Statement of Financial Accounting Standards No.116: Accounting for Contributions Received andContributions Made. Norwalk, CT: FinancialAccounting Standards Board of the FinancialAccounting Foundation, June 1993. Full textavailable in PDF format at www.fasb.org/st/index.shtml

Statement of Financial Accounting Standards No.117: Financial Statements of Not-for-ProfitOrganizations. Norwalk, CT: Financial AccountingStandards Board of the Financial AccountingFoundation, June 1993. Full text available in PDFformat at www.fasb.org/st/index.shtml

Valuation Standards for Charitable Planned Gifts.National Committee on Planned Giving (nowPartnership for Philanthropic Planning), 2004.Availabe in PDF format at www.pppnet.org(Programs -> Ethics and Standards section).

White, Douglas E. “Is Planned Giving A CapitalConcept?” The Art of Planned Giving: UnderstandingDonors and the Culture of Giving. New York: JohnWiley & Sons, Inc., 1995. pp. 244-259.


Sample Reporting FormThe Sample Reporting Form provides a framworkfor reporting the results of fundraising activity,either in an annual context, or in a multi-yearcampaign. In the campaign, a series of interimreports would be prepared, either annually or on aschedule determined at the beginning of thecampaign.

Number of Gifts: new gifts or commitments thathave been received during the reporting period, aswell as gifts that have changed character during theperiod and been moved from another category.(See page 19 for additional information.) When agift is moved from one category to another, thenumber of gifts in its original category should bereduced accordingly.

Face Value: the value of new gifts/commitmentsand gifts that have changed character during thereporting period. When a gift is moved from onecategory to another, the value of gifts in its originalcategory should be reduced accordingly.

Valuation Based on the Partnership’sValuation Standards: The Valuation Standardsfor Charitable Planned Gifts provide a methodologyfor estimating what a future gift will be worth tocharity in today’s dollars. See page 8 for moreinformation on the distinctions between countingand valuing gifts. The Valuation Standards can beviewed in PDF format at www.pppnet.org in thePrograms -> Ethics & Standards section.

IRS Deduction Value: the charitable tax deductionas determined by U.S. Treasury regulations.

Note that the gift value according to thePartnership’s standards and the IRS deduction valueare included on this form in order to fully describefundraising results for internal audiences, and tocontrast figures arrived at by variousmethodologies. This information, and detailedinformation on various types of gifts within the threecategories, are intended for internal reportingclarity. We recommend that only the summaryresults in the three major categories should bereported to external constituencies.

SAMPLE REPORTING FORMAT

© Partnership for Philanthropic Planning, 2009. All rights reserved

FUNDRAISING RESULTS Reporting Period:

*Number of Gifts

*Face Value

Valuation Based on NCPG Standards

IRS Deduction Value

**Matured Gifts Counted in Previous Campaigns

A. OUTRIGHT GIFTS Cash Public Securities Closely Held Securities Real Estate Tangible Property Other Non-Cash Assets Grant Income from Private, Nongovernmental Sources

Irrevocable Pledges Collected During Campaign Period

Gift Portion of Bargain Sales Lead Trust Distributions Cash Value of Life Insurance Owned by the Charity (Net of Policy Loans)

Realized Bequests Realized Charitable Remainder Trusts

Realized Charitable Gift Annuities

Realized Insurance Policies Realized Retirement Plan Assets

TOTAL OUTRIGHT GIFTS

* These columns include both new gifts and commitments that have changed character during the

reporting period (e.g., matured to category A from category B or C, or moved from category C (revocable commitments) to category B (irrevocable commitments).

** This column is used in a campaign context to show the value of realized gifts that were committed

and counted toward goals in a previous campaign. Numbers in this column are never counted toward current campaign goals. If the value of the matured gift is greater than the value counted toward a previous campaign, and the increase is not attributable solely to investment performance, the excess value can be counted toward the current campaign. For example, a bequest that was nominally counted in Category C in one campaign can be counted in category A in a subsequent campaign at its full, realized value (see page 16).



Number

of Gifts Face Value

Valuation Based on NCPG Standards

IRS Deduction Value

**Matured Gifts Counted in Previous Campaigns

B. IRREVOCABLE DEFERRED GIFTS

New Charitable Gift Annuities

New Deferred Charitable Gift Annuities

New Charitable Remainder Annuity Trusts

New Charitable Remainder Unitrusts

Additions to existing CRUTS, if made during current campaign or counting period

New Pooled Income Fund Contributions

Completed Gifts of Life Insurance

Remainder Interest in Property with Retained Life Estate

Irrevocable Testamentary Pledges

Future Lead Trust Distributions

TOTAL IRREVOCABLE DEFERRED GIFTS



C. REVOCABLE GIFTS

Estate Provisions

Qualified Retirement Plan Assets

Incomplete Gifts of Life Insurance

New Charitable Remainder Trusts (Donor Retains Right to Change Beneficiaries)

Additions to existing CRUTS, if made during current campaign or counting period

Donor Advised Fund Contributions Due to Charity

Life Insurance Owned by Donor

Commitments from Living Trusts

Other Revocable Pledges

TOTAL REVOCABLE COMMITMENTS

TOTAL GIFTS AND COMMITMENTS

Total Categories A, B and C

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