Planned Giving to The ManKind Project or ManKind Foundation

Planned Giving (or Charitable Gift Planning), refers to the process of making a charitable gift of estate assets to one or more nonprofit organizations, a gift that requires consideration and planning in light of the donor's overall estate plan.

Such gifts usually include legal documents and often require the assistance of a qualified professional to complete. Because of the size and potential impact of such gifts, a donor should consult with his or her professional advisors and/or attorney before completing the process of making a planned gift to The ManKind Project (MKP) or The ManKind Foundation (MKF).

Usually Deferred

Planned gifts are usually deferred, meaning they are arranged now and fulfilled later. For example, a person could include a provision in his or her will to make a bequest to MKP or MKF. That arrangement would be a planned gift.

Or, a person might establish a charitable trust that could provide income to the donor (or someone else) for a period of time (usually for life). After this gift-deferral period, the trust would "mature" and all or part of the remaining assets (corpus), would go to MKP or MKF. This is called a Charitable Remainder Trust.

Another kind of planning device allows a donor to place assets in a trust that pays out income to MKP or MKF for a period of years. Then, when this trust "matures," whatever is left goes back to the donor or to someone else stipulated by the donor. This is called a Charitable Lead Trust.

Another deferred gift instrument is the Charitable Gift Annuity. This is popular with many donors because it represents a life-time contract between the donor and MKP or MKF, and because it is relatively simple to understand and establish. For example, a donor gives $50,000 to MKP or MKF and receives, in return, a set amount of money every year for the rest of his or her life. The donor also has the choice of naming someone else as the annuitant to receive the annuity payments.

Often Irrevocable

Planned gifts can be revocable (as in a Will Bequest) or irrevocable (as in a Charitable Gift Annuity). Even though a deferred gift may not actually benefit MKP or MKF for many years, the gift arrangement can generate an immediate income tax charitable deduction because the future gift has been established and cannot be recalled. On the other hand, revocable gifts do not provide immediate tax benefits.

There are numerous planned giving vehicles and combinations that allow a gift planner to tailor-make a gift plan. Indeed, one the of truly fulfilling aspects of charitable gift planning is the adventure of helping donors find and, in cooperation with the appropriate advisors, construct the best plan for everyone concerned.

Copyright ©2004-2006 The ManKind Foundation. All rights reserved.