A New Planned Giving Program

Carnegie Museums’ new planned giving program, and the museums’ new director of Gift Planning, Sally A. Davoren, were introduced by President Ellsworth Brown at the Long-Term Members Recognition Luncheon held on October 28, 1996. Davoren, an attorney with 16 years of experience in private practice, will be working with donors and their advisors to increase the number of planned gifts to the museums. A “planned gift” is a gift with one or more of the following characteristics:

• The advice and/or assistance of the donor’s professional advisors, such as attorneys and accountants, is necessary to complete the gift.

• The gift has an impact on the donor’s estate or other long-range financial plans.

• The gift comes from the donor’s permanent assets, rather than from his or her income.

Examples of planned gifts include bequests, gifts of certain types of property, such as life insurance policies, works of art or real estate, and “life income” gifts, in which the donor or a beneficiary designated by the donor receives income for life from an asset given to a charity or from the proceeds of the charity’s sale of the asset.

Due to the tax advantages afforded to planned gifts and the timing of the gifts, arranging for a planned gift can frequently enable a donor to give a larger gift to a charity than would have been possible otherwise. In some cases, use of planned giving techniques permits a donor who could not have made an immediate, outright gift to make a significant charitable gift.

If you or someone you know would like further information about planned gifts to Carnegie Museums, call Sally at 762- 4171. All inquiries are kept strictly confidential.