Planned Giving

What Is Planned Giving?

by Tom Woollen, Coordinator of Planned Giving at the Urban Ministry Center

An interesting statistic is that 89% of households nationwide contribute to charity each year but only 8% make a charitable bequest at death. Planned Giving is an effort to continue charitable giving after death by making a bequest by will or codicil to a will, in a charitable income trust, through life insurance, or through one of the many other techniques available. What a wonderful way to say how meaningful a ministry had been during a person’s lifetime and as a way to create a legacy of their faith and to give thanks to God.

The Urban Ministry Center now has both the staff and expertise to discuss the process and techniques of leaving a legacy gift. Some of that expertise may come from the Foundation for the Carolinas or other charitable foundations which offer professional advice in tailoring a charitable giving plan that fits a person’s interests and financial situation. In addition, some Mutual Fund companies now offer funds specifically geared toward charitable planning.

Why leave a legacy to the Urban Ministry Center? We all have a responsibility to our community for the on-going future of this wonderful ministry. Our treasure must continue to be where our hearts are. Planned Giving dollars are not a substitute for annual giving. The ministry needs its annual campaign to run the day-to-day operations, to pay salaries and benefits, purchase equipment and supplies, cleaning, cooking, typing, writing, teaching, counseling, and the hundreds of other things that go on at the mission every day. Legacy dollars which represent a larger vision of charitable giving, provide the special things that won’t get done otherwise.

Planned Giving Concepts

1. The mission of the Planned Giving program at Urban Ministry is to provide assets for the future of the ministry.

2. The long-range planning process for donors must include concern for the implications of actions on others, including unintended consequences for the donor, his or her family, the ministry and the community.

3. A donor should avoid simplistic solutions to complex problems. He or she should be familiar with various techniques of planned giving, advantages and disadvantages of each of those techniques, and how and why a particular technique may be appropriate in a specific situation.

4. A Planned Giving Coordinator representing Urban Ministry should explain all aspects of a proposed charitable planned gift fully, fairly, and accurately to the donor during the gift-planning process. Such explanation should include:

a. The need for philanthropic gifts to the ministry.

b. Alternative techniques for making a gift.

c. Valuation issues and procedures.

d. Advantages and disadvantages of various techniques.

e. Any required governmental reporting requirements.

f. Long-range financial and family implications.

g. Tax consequences currently and in the future. The Coordinator should encourage the donor to discuss charitable planned giving concepts with an attorney or accountant of the donor’s choice. A specific advisor will not be recommended, but a list of advisors will be provided at the donor’s request.

5. All financial and estate planning information regarding prospective donors and their families shall remain in strictest confidence.

6. The Urban Ministry will not pay a finder’s fee, commission, or any other compensation to a financial planner or other gift planner as a condition or incentive for the delivery of a charitable planned gift. Similarly, neither the ministry nor the Coordinator will accept or receive a finder’s fee for referral to an attorney, accountant or other financial advisor, broker, agent, etc.

7. The Coordinator must be neutral about recommendations and advice. There must be no real or perceived conflict of interest in the relationship between the Coordinator and contributor to the ministry’s planned giving program. The Coordinator should not be licensed to sell any product or accept any fee from a donor for advice or recommendation.

For help in considering charitable giving concepts, contact This e-mail address is being protected from spambots. You need JavaScript enabled to view it ,
Coordinator of Planned Giving at the Urban Ministry Center.