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Charitable Gift Annuity (CGA)
A charitable gift annuity is a gift vehicle that falls into the category of planned giving. It involves a contract between a donor and a charity, whereby the donor transfers assets, such as cash or securities, to the charity in exchange for a partial tax deduction and a lifetime stream of periodic income from the charity. When the donor dies, the charity keeps the remaining assets. The amount of the income stream is determined by many factors, including the donor's age and the policy of the charity. Most charities in the United States use payout rates recommended by the American Council on Gift Annuities. How it works Here's how it typically works: * The donor contributes assets, such as cash or securities, to a charitable organization. * In exchange for the contribution, the organization agrees to make regular fixed payments to the donor for the remainder of their life. The income stream (annuity) can be set up to provide payments to a single individual (annuitant) or to two ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Planned Giving
Planned giving (less commonly known as gift plannin is an area of fundraising that refers to several specific gift types that can be funded with cash, equity, or property. These gift vehicles are commonly based on United States tax law, buCanada the United Kingdom, another nationsare beginning to establish similar laws. In the United States the specific rules of planned giving are defined by the United States Congress and the Internal Revenue Service. History and etymology The term "planned giving" was coined in 1969 by Robert F. Sharpe, Sr.: "A donor usually considers a current gift to your institution as a cash outlay now. To make a deferred gift, a person decides to give at some future date, either a number of years from now or at death. A deferred gift is a present decision to make a future gift, evidenced by a legal contract. "While the name 'deferred giving' is best known to professionals in the field, it is not a term that communicates very much to the average donor. The ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Forbes
''Forbes'' () is an American business magazine owned by Integrated Whale Media Investments and the Forbes family. Published eight times a year, it features articles on finance, industry, investing, and marketing topics. ''Forbes'' also reports on related subjects such as technology, communications, science, politics, and law. It is based in Jersey City, New Jersey. Competitors in the national business magazine category include ''Fortune'' and ''Bloomberg Businessweek''. ''Forbes'' has an international edition in Asia as well as editions produced under license in 27 countries and regions worldwide. The magazine is well known for its lists and rankings, including of the richest Americans (the Forbes 400), of the America's Wealthiest Celebrities, of the world's top companies (the Forbes Global 2000), Forbes list of the World's Most Powerful People, and The World's Billionaires. The motto of ''Forbes'' magazine is "Change the World". Its chair and editor-in-chief is Steve Fo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fair Market Value
The fair market value of property is the price at which it would change hands between a willing and informed buyer and seller. The term is used throughout the Internal Revenue Code, as well as in bankruptcy laws, in many state laws, and by several regulatory bodies. In litigation in many jurisdictions in the United States the fair market value is determined at a hearing. In certain jurisdictions, the courts are required to hold fair market hearings, even if the borrowers or the loans guarantors waived their rights to such a hearing in the loan documents. Definition United States The fair market value is the price at which property would change hands between a willing buyer and a willing seller, neither being under any compulsion to buy or to sell and both having reasonable knowledge of relevant facts. ''United States v. Cartwright'', 411 U. S. 546, 93 S. Ct. 1713, 1716-17, 36 L. Ed. 2d 528, 73-1 U.S. Tax Cas. ( CCH) ΒΆ 12,926 (1973) (quoting from U.S. Treasury regulations relat ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Present Value
In economics and finance, present value (PV), also known as present discounted value, is the value of an expected income stream determined as of the date of valuation. The present value is usually less than the future value because money has interest-earning potential, a characteristic referred to as the time value of money, except during times of zero- or negative interest rates, when the present value will be equal or more than the future value. Time value can be described with the simplified phrase, "A dollar today is worth more than a dollar tomorrow". Here, 'worth more' means that its value is greater than tomorrow. A dollar today is worth more than a dollar tomorrow because the dollar can be invested and earn a day's worth of interest, making the total accumulate to a value more than a dollar by tomorrow. Interest can be compared to rent. Just as rent is paid to a landlord by a tenant without the ownership of the asset being transferred, interest is paid to a lender by a borr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
