- oDonors are encouraged to name the Foundation as a beneficiary of retirement plan assets (e.g., IRA, 401(k), 403(b)).
- oNot recorded as a gift unless irrevocable (typically upon the donor's death).
Split-Interest Gifts:
Charitable Gift Annuities (CGAs).
- oThe Foundation may offer CGAs if it meets state registration requirements and has Board approval to do so.
- oMinimum funding of $25,000 and minimum beneficiary age of 60. Exceptions require Foundation Board approval.
- oFunded only with cash or marketable securities; no illiquid assets like real estate or personal property.
- oAnnuity rates shall be based on tables from the American Council on Gift Annuities (ACGA).
• Other Split-Interest Gifts (Charitable Remainder Trusts, Charitable Lead Trusts, Retained Life Estates).
- oThe Foundation may accept benefits from such trusts or arrangements.
- oInstitutional Advancement staff will discuss these with donors. Acceptance designations or complex terms requires Foundation Board approval, with KSU legal counsel review and KSU endorsement as appropriate.
- oThe Foundation and KSU do not act as trustee for these types of trusts.
Gift Documentation, Counting, and Reporting
Pledges, Letters of Intent, and Commitments:
- Pledge. A written, signed promise by the donor to contribute a specific amount over a fixed time (generally not to exceed five (5) years, unless approved by the Vice President of Institutional Advancement).
- Letter of Intent (LOI). Used by DAF advisors or foundations to indicate intent to recommend/grant future gifts. Not a binding pledge on the advisor/foundation.
- Deferred Commitment. An indication of a future gift (e.g., through an estate note or documented bequest intention).
- Verbal pledges/commitments are generally not recorded for fundraising totals unless documented by a follow-up letter from the Vice President of Institutional Advancement confirming the understanding.
- Totals for outright contributions, pledges, LOIs, and deferred commitments are reported separately.
Capital Campaign Gifts: