{"id":3763,"date":"2025-07-21T15:35:35","date_gmt":"2025-07-21T19:35:35","guid":{"rendered":"https:\/\/home.hamptonu.edu\/giving\/?page_id=3763"},"modified":"2025-07-21T17:27:06","modified_gmt":"2025-07-21T21:27:06","slug":"planned-giving-policy","status":"publish","type":"page","link":"https:\/\/home.hamptonu.edu\/giving\/about\/policies\/planned-giving-policy\/","title":{"rendered":"Planned Giving Policy"},"content":{"rendered":"\t\t
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\n\t\t\t\t\tOffice of Advancement & External Engagement<\/span>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Planned Giving Policy<\/h1>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t
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Planned Giving Policy<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t
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Purpose <\/div><\/span>\n\t\t\t\t\t\t\t\t\t<\/summary>\n\t\t\t\t
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\n\t\t\t\t\t\t\t\t\tThis policy establishes the guidelines and procedures for the solicitation, acceptance, and administration of planned gifts to Hampton University. Planned gifts are a vital source of long-term support for the University’s mission and strategic priorities.\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/details>\n\t\t\t\t\t\t
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Definition of Planned Gifts <\/div><\/span>\n\t\t\t\t\t\t\t\t\t<\/summary>\n\t\t\t\t
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  • Planned gifts are charitable contributions arranged during a donor’s lifetime but whose benefits are typically realized by the University at a future date.<\/li>\n
  • These gifts often involve complex financial and estate planning and may offer significant tax advantages to the donor.<\/li>\n<\/ul>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/details>\n\t\t\t\t\t\t
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    Governing Principles <\/div><\/span>\n\t\t\t\t\t\t\t\t\t<\/summary>\n\t\t\t\t
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    • Donor Intent:<\/strong> The University will honor the donor’s intent as expressed in the planned giving arrangement, ensuring that gifts are used for the designated purposes.<\/li>\n
    • Ethical Practices:<\/strong> All planned giving activities will be conducted with the highest ethical standards, transparency, and in compliance with all applicable laws and regulations.<\/li>\n
    • Professional Expertise:<\/strong> The University will provide donors with access to professional expertise and guidance to help them structure planned gifts that meet their financial and philanthropic goals.<\/li>\n
    • Long-Term Perspective:<\/strong> Planned gifts are recognized as long-term investments in the University’s future, requiring careful stewardship and management.<\/li>\n<\/ul>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/details>\n\t\t\t\t\t\t
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      Types of Planned Giving Vehicles <\/div><\/span>\n\t\t\t\t\t\t\t\t\t<\/summary>\n\t\t\t\t
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      \n\t\t\t\t\t\t\t\t\tHampton University accepts various types of planned gifts, including but not limited to:\n\n
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      • Bequests:<\/strong>\n
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        • A bequest is a gift made through a donor’s will or living trust.<\/li>\n
        • Donors can designate a specific amount, a percentage of their estate, or the residue of their estate to Hampton University.<\/li>\n <\/ul>\n <\/li>\n
        • Charitable Gift Annuities (CGAs):<\/strong>\n
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          • A CGA is a contract between a donor and the University, where the donor makes a gift and receives fixed payments for life.<\/li>\n
          • Upon the donor’s passing, the remaining assets benefit Hampton University.<\/li>\n <\/ul>\n <\/li>\n
          • Charitable Remainder Trusts (CRTs):<\/strong>\n
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            • A CRT is an irrevocable trust that provides income to the donor or other beneficiaries for a specified period or for life.<\/li>\n
            • At the end of the trust term, the remaining assets are distributed to Hampton University.<\/li>\n <\/ul>\n <\/li>\n
            • Charitable Lead Trusts (CLTs):<\/strong>\n
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              • A CLT is a trust that provides income to Hampton University for a specified period, after which the remaining assets revert to the donor or their beneficiaries.<\/li>\n <\/ul>\n <\/li>\n
              • Donor-Advised Funds (DAFs):<\/strong>\n
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                • A DAF is a charitable giving vehicle administered by a public charity, allowing donors to make a charitable contribution, receive an immediate tax deduction, and then recommend grants to qualified charities like Hampton University over time.<\/li>\n
                • DAFs offer flexibility and can be a strategic way to support the University while managing your giving.<\/li>\n <\/ul>\n <\/li>\n
                • Life Insurance Policies:<\/strong>\n
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                  • Donors can name Hampton University as a beneficiary of a new or existing life insurance policy.<\/li>\n <\/ul>\n <\/li>\n
                  • Retirement Plan Assets:<\/strong>\n
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                    • Donors can designate Hampton University as a beneficiary of their retirement plan assets, which may offer tax advantages.<\/li>\n <\/ul>\n <\/li>\n<\/ul>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/details>\n\t\t\t\t\t\t
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                      Policies for Counting Bequests <\/div><\/span>\n\t\t\t\t\t\t\t\t\t<\/summary>\n\t\t\t\t
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                      \n\t\t\t\t\t\t\t\t\tTo align with best practices and CASE (Council for Advancement and Support of Education) guidelines, the following policies will govern the counting of bequests for campaign and reporting purposes:\n\n
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                      • Documentation:<\/strong> Bequest intentions will be included in campaign totals only if they are properly documented in writing (e.g., copy of the will, bequest intention form).<\/li>\n
                      • Separate Reporting:<\/strong> Bequest intentions will be reported separately from outright gifts and irrevocable deferred gifts to provide transparency.<\/li>\n
                      • Verification:<\/strong> The University will establish a process for periodic verification of bequest intentions to ensure accuracy and maintain donor relationships.<\/li>\n
                      • Age Considerations:<\/strong> The University may consider the donor’s age when including bequest intentions in campaign totals. For example:\n
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                        • No inclusion if the intended donor is less than 50 years of age.<\/li>\n
                        • Inclusion at a discounted value if the individual is between 50 and 69 years of age.<\/li>\n
                        • Inclusion at full face value if the individual is 70 years of age or older.<\/li>\n <\/ul>\n <\/li>\n <\/ul>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/details>\n\t\t\t\t\t\t
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                          Administration and Responsibilities <\/div><\/span>\n\t\t\t\t\t\t\t\t\t<\/summary>\n\t\t\t\t
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                          • Office of Advancement & External Engagement:<\/strong> Responsible for:\n
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                            • Cultivating and soliciting planned gifts.<\/li>\n
                            • Providing donors with information and resources on planned giving options.<\/li>\n
                            • Working with donors and their advisors to structure planned gifts.<\/li>\n
                            • Preparing and executing planned giving agreements.<\/li>\n
                            • Stewarding planned giving donors.<\/li>\n <\/ul>\n <\/li>\n
                            • Office of Business Affairs:<\/strong> Responsible for:\n
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                              • Managing and administering planned gift assets.<\/li>\n
                              • Ensuring compliance with legal and financial reporting requirements.<\/li>\n <\/ul>\n <\/li>\n<\/ul>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/details>\n\t\t\t\t\t\t
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                                Gift Acceptance and Agreements <\/div><\/span>\n\t\t\t\t\t\t\t\t\t<\/summary>\n\t\t\t\t
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                                • All planned gifts must be reviewed and accepted by the University in accordance with its Gift Acceptance Policy.<\/li>\n
                                • A formal planned giving agreement will be executed between the donor and the University, outlining the terms and conditions of the gift.<\/li>\n
                                • The agreement will clearly specify:\n
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                                  • The type of planned gift.<\/li>\n
                                  • The purpose of the gift.<\/li>\n
                                  • Any restrictions on the use of the gift.<\/li>\n
                                  • Payment terms or distribution schedules (if applicable).<\/li>\n
                                  • Any other relevant legal or financial provisions.<\/li>\n <\/ul>\n <\/li>\n<\/ul>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/details>\n\t\t\t\t\t\t
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                                    Donor Stewardship <\/div><\/span>\n\t\t\t\t\t\t\t\t\t<\/summary>\n\t\t\t\t
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                                    • The University is committed to providing ongoing stewardship to planned giving donors.<\/li>\n
                                    • Stewardship activities may include:\n
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                                      • Regular communication and updates.<\/li>\n
                                      • Invitations to special events.<\/li>\n
                                      • Personalized recognition.<\/li>\n
                                      • Acknowledgment of the donor’s legacy.<\/li>\n <\/ul>\n <\/li>\n
                                      • The University recognizes the importance of stewarding planned giving donors over the long term, even if the gift’s realization occurs many years in the future.<\/li>\n<\/ul>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/details>\n\t\t\t\t\t\t
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                                        Policy Review <\/div><\/span>\n\t\t\t\t\t\t\t\t\t<\/summary>\n\t\t\t\t
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                                        \n\t\t\t\t\t\t\t\t\tThis policy will be reviewed and updated periodically to ensure compliance with best practices, legal and regulatory requirements, and the University’s strategic goals.\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/details>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t