ERIC Number: ED227751
Record Type: RIE
Publication Date: 1983-Feb
Reference Count: 0
Deferred Gift Reporting.
Munger, Peter L.; Ridenour, James F.
Business Officer, p16-17 Feb 1983
Information on three categories of deferred gifts, deferred gift valuation, and reporting on deferred gifts are presented, based on the NACUBO publication entitled "Management Reporting Standards for Educational Institutions: Fund Raising and Related Activities." In addition, a summary is presented of the results of a 1982 informal survey of 29 colleges and universities concerning the valuation methods. Deferred gifts are divided into three major categories: pooled income funds, charitable remainder trusts (both unitrusts and annuity trusts), and charitable gift annuities. There are three prevailing alternatives for determining the value of gifts received in the form of charitable remainder trusts, pooled income funds, and gift annuities that are referred to as tax method, net realizable value, and fair market value. Of 29 colleges and universities responding to the informal questionnaire, 20 indicated that they preferred reporting deferred gifts at fair market value as opposed to net realizable value. According to "College and University Business Administration," accounting for annuity funds requires the recording of assets at cost or at fair market value at the date of receipt. (SW)
Descriptors: Educational Finance, Financial Policy, Financial Support, Higher Education, Income, Investment, Money Management, Recordkeeping, School Accounting, Standards, Trusts (Financial)
National Association of College and University Business Officers. 1110 Vermont Avenue NW Suite 800, Washington, DC 20005. Tel: 800-462-4916; Tel: 202-861-2500; Fax: 202-861-2583; Web site: http://www.nacubo.org
Publication Type: Journal Articles; Opinion Papers
Education Level: N/A
Authoring Institution: National Association of College and University Business Officers, Washington, DC.
Identifiers: Annuities; Deferred Giving