Transcript
Chris McGurn
[00:00:04] Hello and welcome. I am Chris McGurn, PNC's Director of Institutional Asset Management Planned Giving Solutions. And I'm going to take a few minutes here today to talk about a fantastic donor and stewardship opportunity.
In case you haven't heard, the American Council on Gift Annuities raised its recommended charitable gift annuity rates as of July 1, 2022. And it is a significant increase: 0.4% to 0.6% for most ages. So what does this mean for your donors? Well, your average donor, who is 79, was offered a 6.2%, will now be able to consider a 6.8% rate. And is this significant for philanthropic donors? We say yes. And that's evidenced by the number of gifts our clients have seen.
So when you look at the time period of 2021: July 1 – August 31 to July 1 – August 31, 2022, we saw a 70% increase in market value. So the real eye-opener in these stats is the number of six-figure gifts. So in 2021, 10% of gifts were six figures. In 2022, for that same time period, 32% of all gifts were $100,000 or more. So what's the common thread here?
Those clients who sent out correspondence to their donors – so whether that is web, email, postcards, newsletters, any kind of communication – they were the ones seeing those big gifts come in. So I'm here to tell you, it is not too late to take advantage of the rate increase, especially for your year-end giving.
If you have any questions, please feel free to reach out to me or go to pnc.com and type in planned giving in the search bar. I look forward to continuing the conversation. Thank you.
