Planned gifts are an important part of the philanthropic support received by the Center.
Planned gifts must be funded with cash, publicly traded securities, or other
financialinstruments with a ready market value.
The following planned gifts may be accepted, recorded and acknowledged according to General Accounting Principles.
- Revocable planned gifts (e.g., a will) will be acknowledged and treated as other gifts. However, pursuant to these Policies' Naming Opportunity guidelines, no permanent public recognition will be offered until and unless the gift becomes irrevocable.
- Irrevocable planned gifts such as life-income agreements, including charitable remainder unitrusts, charitable gift annuities and trusts in which the Center has an irrevocable right will be counted at the present value of the remainder interest at the time the agreement is signed.
- Charitable lead trust income will be receipted during any given special campaign or fund year and will count toward the gift totals of the specified fund raising initiative.
A Whole or Universal Life insurance Policy of which the Center would be both owner and irrevocable beneficiary may be accepted. However, given the complexities and financial ramifications to the donor of such a contribution, in his or her best interests, the Center would first engage and seek the recommendation of expert counsel before entering into any agreement or Naming Opportunity valuation funded with an insurance policy.