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July 2015 Newsletter

Newsletter Archives

Planned Giving Mentor

Professional Partnerships: Hospice Philanthropy Group L.L.C.

Use your Smart phone camera and put our consulting at your fingertips.

Quotes for today Tribute to Yogi Berra, his top 10 Yogisms listed below.

Quickie quiz:.....There is an election next year and there are 435 members in the House of Representatives. How many in the current House of Representatives only have a high school diploma?Answer below

Senior Spirit.....Click the Senior Spirit link (below left) for a copy of the latest articles from Certified Senior Advisors

Past issues of the Newsletter are available in the Newsletter Archives To subscribe to this newsletter E-mail and put Subscribe in the subject line

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Yogi's top.....10. It's like deja vu all over again. 9. You better cut the pizza in four pieces because I'm not hungry enough to eat six. 8. The future ain't what it used to be. 7. We made too many wrong mistakes. 6. Nobody goes there anymore. It's too crowded. 5. You can observe a lot just by watching. 4. You should always go to other people's funerals; otherwise, they won't come to yours. 3. When you come to a fork in the road, take it. 2. Baseball is 90 percent mental. The other half is physical. 1. It ain't over 'til it's over. ____________________________________________________________________________

 

 

 

Raymond James: Exploring Charitable Gift Annuities.......Ever wonder how the brokerage and investment community is encroaching on charitable giving strategies? Sometimes it is not all bad as they are raising the topic with their clients. Given the investment advisor nationwide client base, Raymond James has created the Raymond James Charitable Endowment Fund (RJCEF).

The RJCEF has also created a charitable gift annuity program. Upon the death of the final beneficiary the residuum will be transferred to the charity of the donor's choice or to the Raymond James Charitable Endowment Fund Donor Advised Fund.

This program may be of interest to some charities but note the minimum for a CGA is $50,000.

Click this LINK for more information and where you may download the RJ brochure, disclosure statement, and application. The brochure may be a good learning tool to educate a board considering launching a CGA program.

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Lesson in Charitable Giving.....Several items cross my desk daily from both the for-profit and not-for-profit sector. Recently I received a 15 page program called "Giving Today to Guarantee Tomorrow: A Lesson in Charitable Giving." It is an educational document for life insurance agents. While I am not a life agent but a Certified Senior Advisor (CSA) I received countless communications on financial planning.

Giving Today... stands out as a good educational tool for fund raisers and quick tutorial on the various methods to create life income and testamentary gift agreements. I recommend a download for your library.

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PRIDE Philanthropy Fundraising Experts Since 1925 joins Helpful Links......As the leading national fundraising firm for 90 years, PRIDE helps nonprofit organizations maximize their fundraising potential. With each organization,PRIDE provides a customized approach to exceed financial results.

PRIDE'S services extend from online video conferencing, to onsite staff support, and destination seminars. Whether your nonprofit is new to fundraising, a well established development program, a small shop, or a large institution or system, PRIDE offers development staff and volunteer networking and support to help you surpass your financial expectations.

Web site link: www.pridephilanthropy.com

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Gift Annuity Rate Update and Laminated Gift Annuity Rate Charts..... At its semi-annual meeting on November 3, 2014, the Board of Directors of the American Council on Gift Annuities (ACGA) voted to reaffirm the existing maximum rate schedule for charitable gift annuities which was originally published on January 1, 2012.

As part of its ongoing review process, the Rates Committee of the ACGA monitors on a weekly basis certain interest rates that underlie the investment return assumptions used to create the rate schedules. The committee also evaluates annuitant mortality and other assumptions as appropriate.

The ACGA uses the results of a study of gift annuitant mortality study it commissioned in 2010 when calculating a schedule of suggested gift annuity rates. They do this because historically charitable gift annuitants have been shown to have longer life expectancies than both the general public and the population of individuals who purchase commercial annuities.

The ACGA will meet again in April, 2016.

Rate Chart....... If you would like a laminated rate chart for the most recent rates simply request one using the following E-mail request and put Laminated Chart in the subject line.

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3 Reasons to Ask.... While asking can be daunting, planned gift professionals realize their approach to an ask is different because they are making the donor's dreams come alive, either today or after death. 1) People are more likely to say 'yes' than you think. This is especially true if you ask them to do you a favor. In planned giving this may be, "Would you do me a favor as I have several ways you might consider increasing your income?" 2) Asking doesn't weaken your power, it boosts it. 3) You'll actually feel better if you ask. The regret for not asking often lingers with us for some time, while a negative answer to a request may be gone in minutes.

It is all about helping a donor realize his or her dreams for a better world, in which they have made a lasting difference.

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Where do Bequests come from?.....As you look at your donor list here is where to look for people to have a bequest conversation with. 1) 5 or more years of regular or consecutive giving. 2) Sustained long-term giving that may not be consecutive. 3) Frequent givers, more than once per year. 4) Family has been involved in some way for years. 5) Recognized by your organization at events or for volunteer service. 6) Has no heirs. 7) Few family obligations. 8) Is securely retired. 9) Is age 65+, 10) Have been on your mailing list for years. 11) Has been called on regarding a legacy gift in prior years. 12) Has requested information about legacy giving. 13) Has demonstrated an interest in an organization similar to your. 14) Just experience a major life event, e.g. illness, birth of a child, death in the family that may cause an individual to visit an attorney.

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Quiz answer: 20 of the 435 members only have a High School Diploma. (source: Congressional Research Service)

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SWOT analysis tips: Doing a board or development retreat. Check out the following Guide for some tips.

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News and Notes....TODAY, a 65 year old is expected to live an average of 19.3 more years, up four years from 1965, when a 65-year old was only expected to live an average of 15 more years. Greater longevity means more financial uncertainty.

FEDERAL RESERVE reported that household net worth reached a new record level of $82.9 trillion in the fourth quarter of 2014 and rose another $1.5 trillion between January and March, 2015. Most planned gifts come from asset giving. (source:Sharpe Group, Give and Take, August, 2015)

GREEN ACRES - The average US “farm real estate value” is $3,020 an acre in 2015, including land and buildings, an increase of +7.0% per year over the last 4 years. The price of farmland averages $8,000 an acre in Iowa but just $2,030 an acre in Kansas (source: Department of Agriculture).

MORE OUT THAN IN - The trust fund backing Social Security retirement benefits took in payroll tax contributions that exceeded retirement benefit payments made to retirees for the 26 consecutive years 1984-2009. Since 2010, benefits paid have exceeded payroll taxes collected. E.g., in 2014, covered workers paid in $646.2 billion of payroll taxes, but retirees received $706.8 billion in benefit payments (source: SS Trustees 2015 Report)

MONEY OUT - 55% of the outlays of the US government during the first 10 months of fiscal year 2015 (i.e., the 10 months ending 7/31/15) are from just 3 line items – Social Security (24%), National Defense (16%) and Medicare (15%). Interest paid on our national debt makes up 7% of outlays (source: Treasury Department).

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Kudos Corner - Celebrating gifts of all types and sizes

In this section I periodically highlight some recent gift expectancies and gift program elements I think will be helpful and informative, not all gifts are included.

Keystone Human Services and the Keystone Partnership secured its first charitable gift annuity a $50,000 single life annuity from an annuitant age 77. The annuity was reinsured giving Keystone an immediate gift of $20,000.

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James E. Connell and Associates is a national consulting service devoted to increasing resources for charities using the power of charitable estate and gift planning techniques.

Pinehurst office: PO Box 3335, Pinehurst, NC 28374
Phone: 910-295-6800

Northeast office: 20982 Bayside Avenue, Rock Hall, MD 21661

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