Co-authored by Jacqueline Pfeffer Merrill, Executive Director of the Fund for Academic Renewal
Make sure your client and educational institutions are speaking the same language.
Exactly a century ago, Congress ushered a seismic investment in higher education through the transformation of U.S. philanthropy: for the first time, charitable gifts would be tax deductible. Knowing that the financial strains of World War I would make charitable giving more difficult, they found a way to reward individuals and families who chose to donate money for the public good.
College and universities received a whopping $41 billion in private contributions in 2016, and that figure is expected to be yet greater for 2017. Colleges and universities are also the top charitable target for ultra-high-net worth individuals, with 28 of the 2017 "Philanthropy 50" identified by the Chronicle of Philanthropy giving to higher education.
To read this article in full, please click here.
Originally published by www.wealthmanagement.com.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
