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Table of
Contents
July 2000
Reports Reveal Boom in Planned Giving
Planning
Matters
Gift Planner Practices What He Preaches
Largest Increase Ever
in Bequests to Higher Education
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Give & Take:
July
2000
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Largest Increase Ever in Bequests to
Higher Education
According to the Voluntary
Support of Education 1999 report issued this spring by the
Council for Aid to Education (CAE), total reported bequests to
colleges and universities increased by 23%, the largest increase
in over a decade. As in the case of gift activity reported by
Giving USA (see page 1), giving by bequest grew at over
twice the 11% overall rate of increase in giving to higher education.
The $377 million increase in the amount of bequests was the largest
increase ever reported and amounts to more than the total amount
of bequests left to higher education as recently as 1981 when
bequests for the entire year totaled just $374 million.
Trusts, annuities, and
other irrevocable deferred gifts declined 12% from 1998 to 1999
after increasing 27% and 30% in the two prior years. See the
chart below for trends in bequests and other deferred gifts
to higher education for the decade of the 1990s.
Note that the growth
trend for both components of activities collectively known in
many programs as “planned giving” has been robust and the rate
of growth accelerating. Bequests and other planned gifts together
accounted for just under 40% of individual gifts to higher education.
This figure has increased from 27% since 1984, representing
a 50% increase in the percentage of higher education individual
gift income attributable to bequests and other planned gifts.
Since Giving USA
does not separately report deferred gifts such as trusts and
gift annuities, it is not currently possible to determine total
planned giving other than bequests in America today. Trusts
and other irrevocable deferred gifts are now included as part
of individual gift totals, as they are completed by living individuals.
Giving USA in 1999 reported, however, that IRS figures
indicate a rapid increase in planned gifts other than bequests
as well.
For more information
on the Voluntary Support of Education report, contact
CAE at (212) 661-5800 or visit their Web site at www.cae.org.
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