Planned Gift Tech

Business Gifts that Make Sense (and Raise Dollars)

Gregory Baker

Thursday, October 18, 10:00 – 11:00 a.m.

Advanced

Small businesses represent nearly 1/3 of the value of affluent decedents’ estates. Every gift planning shop needs to understand how to apply and discuss CRTs and outright gifts with small business owners. This advanced session will use a case study approach to describe how business owners think about their charitable giving, while also addressing how our due diligence action steps need to differ based on how the donor's business is structured.

Learning Objectives

  1. Learn how to integrate blended gift planning options for small business owners who are ready to sell their business.
  2. Learn the distinction between S-Corporations, C-Corporations, Partnerships, LLC, etc.
  3. Learn how your due diligence review must be different based on your donor's business structure.

 

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Gregory Baker

EXECUTIVE VICE PRESIDENT, RENAISSANCE PHILANTHROPIC SOLUTIONS GROUP

Gregory W. Baker, J.D., ChFC®, CFP®, CAP®, is Executive Vice President of RenPSG, the nation’s largest independent charitable gift solutions provider. For the past 28 years, he has provided trust, tax and philanthropic financial planning advice to over 4,000 attorneys and 8,000 financial planners in all 50 states regarding more than 19,000 charitable remainder trusts, more than 800 charitable lead trusts and numerous foundations, charitable gift annuities and donor-advised funds. Mr. Baker has helped advisors close cases for their high net worth clients in the areas of charitable, investment, retirement, gift, estate and tax planning. His advice has helped donors contribute over $6 billion to charitable gift plans.

Greg is a board member of the National Association of Charitable Gift Planners, a past President of the Charitable Gift Planners Indiana, an Advisory Board Member of the Chartered Advisor in Philanthropy designation at the American College, member of the Financial Planning Association and the Indiana Bar. He was previously VP, Charitable Fiduciary Risk Manager for the Merrill Lynch Center for Philanthropy & Nonprofit Management in Princeton, NJ. Greg speaks at national and local conferences for professional advisors, high-net-worth clients and charities regarding charitable gift planning, asset-allocation, investment modeling and tax issues.

 

Planned Gift Tech

Gifts of Copyrights, Trademarks and other Intellectual Property

David Newman

Thursday, October 18, 11:30 a.m. – 12:30 p.m.

Advanced

The democratization of technology means that more people are able to create and transfer intellectual property, including patents, trademarks, and copyrights, while increased demand for these assets has increased their value dramatically. Charitable contributions of these intangible assets are subject to a surprisingly complex matrix of rules governing the tax benefits arising from those contributions. We will explore these rules with case studies that help planners spot opportunities to develop major planned gifts with a whole new category of assets.

Learning Objectives

  1. Participants will learn the special tax deduction rules for gifts of intellectual property.
  2. We will add new categories of planned gift assets to those we already know and understand.
  3. We will use case studies to learn how to spot opportunities for gifts from donors who may not own appreciated real estate or stock, but may have valuable intellectual property.

 

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David Newman

CHAIR, CHARITABLE SECTOR PRACTICE, MITCHELL SILBERBERG & KNUPP LLP

David Newman chairs the Charitable Sector Practice at the Los Angeles law firm of Mitchell Silberberg & Knupp. For what seems to him like forever he has advised families and individuals concerning their foundations and other philanthropy, as well as charitable organizations and their donors on the legal and tax aspects of charitable gift planning. He also advises these organizations on transactional and governance matters. David is a former board member of both the National Committee on Planned Giving and the American Council on Gift Annuities. David received the Dana Latham Award from the LA Tax Bar, for lifetime achievement in the field of taxation, and he volunteers for the Los Angeles Regional Food Bank, because it makes him crazy that hundreds of thousands of residents of a wealthy metropolis lack food security. He serves on the board of the California Community Foundation.

Planned Gift Tech

Bitcoin and Beyond: Making Virtual Currency Less Virtual

Bryan Clontz

THURSDAY, OCTOBER 18, 2:00 – 3:00 p.m.

Intermediate

Massive new wealth has been generated by virtual currency appreciation and an increasing number of donors are exploring charitable giving options. This session will provide a summary overview and landscape of virtual currency, common giving techniques and practical legal, tax, appraisal and receipt considerations.

Learning Objectives

  1. Learn the basics of virtual currency.
  2. Learn how charities can receive virtual currency.
  3. Anticipate the legal, tax and appraisal issues that arise with virtual currency.

 

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Bryan Clontz

PRESIDENT, CHARITABLE SOLUTIONS, LLC

Bryan Clontz , Ph.D., CFP®, CLU®, ChFC®, CAP®, AEP®, RICP® is the founder and President of Charitable Solutions, LLC, specializing in non-cash asset receipt and liquidation, gift annuity reinsurance brokerage, gift annuity risk management consulting, emergency assistance funds as well as virtual currency and life insurance appraisals/audits. Bryan is the founder of the National Gift Annuity Foundation and the Dechomai Foundation, Inc. and Dechomai Asset Trust - two national donor advised funds focusing on non-cash assets generally and S-corp transactions, respectively. He has written dozens of articles as well as a book released last year, Charitable Gifts of Noncash Assets.

Planned Gift Tech

Accelerating the Remainder Gift: Two Case Studies

Russell Willis

THURSDAY, OCTOBER 18, 3:30 – 5:00 p.m.

Intermediate

Ongoing stewardship of a life income gift donor can sometimes include revisiting whether the cashflow from a remainder trust or a gift annuity is still meaningful within the donor's larger financial picture, or whether that income stream might itself be the source of a further deductible gift. This session will present two case studies—one involving the commutation or surrender of a portion or all of the income interest in a charitable remainder trust, outright or in exchange for a gift annuity, and another involving the assignment to the issuing charity of a portion or all of a gift annuity. In each case, we will discuss the tax treatment of these transfers, and we will reflect on some of the planning that might have been done at the outset to anticipate the possibility that the donor might decide at some point to accelerate the remainder gift.

Learning Objectives

  1. Identify situations in which the commutation or surrender of an income interest in a remainder trust or the assignment of a gift annuity might be indicated.
  2. Describe the basic tax consequences of each of these transactions, and identify unresolved issues.
  3. Be aware of several potential state law issues affecting each of these transactions.

 

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Russell Willis

PLANNED GIFT DESIGN CONSULTANT, THE GREYSTOCKE PROJECT

Russell Willis works as a consultant with nonprofits, donors, and their advisors in structuring charitable contributions of business and real property interests to serve the mutual advantage of all parties. He also provides legal research and advice on income and transfer tax planning more generally. For ten years, Russ wrote daily content for a subscription website, providing in-depth analysis of developments in tax law affecting charitable gift planning. More recently he has launched a fortnightly online newsletter, Jack Straw, analyzing current developments in the law—both tax and nontax—concerning the transfer of private wealth in this country.

Russ is a frequent speaker at regional and national conferences on planned giving. He has an undergraduate degree in English literature from Indiana University in Bloomington and a master's in English from the University of Chicago. He earned his  J.D. at St. Louis University and his master's in taxation law at Washington University in St. Louis, Missouri. For more than twenty years, Russ practiced law in St. Louis, with a concentration in transfer tax planning and in particular charitable gift planning. He chaired the steering committee of the probate and trust law section of the local bar association and served for years on a legislative drafting subcommittee of the probate and trust law committee of the state bar. As an adjunct member of the faculty at the St. Louis University law school, he taught courses in future interests and tax-driven estate planning.

Planned Gift Tech

Don't Gamble Your Future: Best Practices for Endowments

Philip Purcell

Friday, October 19, 10:00 – 11:00 a.m.

Intermediate

This presentation will explain best practices on behalf of charitable endowments. After a brief history of endowments, including the evolution of the Uniform Prudent Management of Institutional Funds Act (UPMIFA), we will examine best practices for endowment investment policies, with attention to mission related investment, program related investment, socially responsible investment and ESG (environment, social, governance factors). In addition, best practices of endowment spending policies will be explored, including the standards of prudence, respecting generational equity and charging appropriate fees. We will consider models for endowment within an organization, a related foundation or at a community foundation. And finally we will turn our attention to successful strategies for fundraising for endowments, including opportunities for gift blending of outright and planned gifts, the use of matching gift incentives and creative applications such as a virtual endowment and mortgage endowment

Learning Objectives

  1. Discern the basic legal principles pertaining to endowments.
  2. Understand best practices for endowment management, modification, investment and spending.
  3. Learn successful strategies for endowment fundraising and stewardship.

 

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Philip Purcell

SENIOR COUNSEL FOR PHILANTHROPY, FELLOWSHIP OF CATHOLIC UNIVERSITY STUDENTS

Phil Purcell currently serves as Senior Counsel for Philanthropy on behalf of the Fellowship of Catholic University Students. Formerly, he was Vice President for Planned Giving and Endowment Stewardship at the Ball State University Foundation where he assisted with completion of a $200 million campaign of which $65 million in planned gifts were raised. Phil held prior position in gift planning for the Central Indiana Community Foundation, St. Vincent Hospital Foundation, and Rose-Hulman Institute of Technology. He is senior consultant for Heaton Smith Group providing charitable and estate planning services. Phil is a certified fundraising executive (CFRE). He is an attorney and member of the American and Indiana State Bar Associations.

Phil currently serves as a volunteer on the Tax Exempt Organization Advisory Council for the Internal Revenue Service (Great Lakes States region) and Vice Chair of the Legislation Committee of the American Bar Association’s Charitable Group. He teaches courses on Law and Philanthropy, Nonprofit Organization Law and Planned Giving as adjunct faculty for the Indiana University Maurer School of Law and Indiana University Lilly School of Philanthropy and Fundraising School. Phil has served on the board of directors for the National Association of Charitable Gift Planners (Secretary), Planned Giving Group of Indiana (President) and Association of Fundraising Professionals Indiana Chapter (President). Phil serves on the Editorial Advisory Board for Planned Giving Today.Phil received his B.A. degree from Wabash College in 1981 (magna cum laude) and his J.D. and M.P.A. degrees (with honors) from Indiana University in 1985.

Planned Gift Tech

Real World Lessons on Gift Substantiation

Bill Knox

Friday, October 19, 11:30 a.m. – 12:30 p.m.

Intermediate

Take a trip through three real-world case studies as we unpack the complex and time-sensitive issues that arise when complying with the gift substantiation rules. This session will focus on the specific requirements of gift substantiation from basic gifts of cash to complex transactions involving gifts of real estate and business interests. Attendees will participate by reviewing cases to examine the issues and guide the case to resolution…when possible!

Learning Objectives

  1. Understand the requirements of gift receipting.
  2. Gain practical knowledge of the issues surrounding the quality and timing of qualified appraisals, based on real life case studies.
  3. Learn how to create and implement rules to guide your charity in assisting donors with the gift substantation process.

 

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Bill Knox

DIRECTOR, TECHNICAL CONSULTING, TIAA KASPICK

Bill Knox,  J.D., LLM is Director, Planned Gift Technical Consulting at TIAA Kaspick, part of TIAA Endowment & Philanthropic Services. In this role, he advises clients on all aspects surrounding planned gifts, including legal, tax, and administration issues. Bill has presented on a variety of planned giving topics at both regional and national events. He joined TIAA in 2012 after serving for more than seven years as vice president of legal services at Crescendo Interactive, Inc. Bill has a BA from the California State University, Chico. He received his  J.D. from the Columbus School of Law at the Catholic University of America and his LLM in tax from Loyola Law School.