I know this isn’t new – Giving USA 2011 #’s came out in June – but it is definitely something that the planned giving world should take note of.
I’ve never been a fan of estate tax repeal. Since a very high percentage of charitable bequests globally come from the potential U.S. estate tax payers (for example, in 2009, 75% of charitable bequest dollars came from those with estates of $3.5 million or greater), I thought we might see a huge dip in bequest revenue in 2010 with the one year repeal.
Turns out that my concerns were unfounded. Giving USA reports that charitable bequests in 2010 came in at $22.82 billion. Not only a typical year, but an increase from the previous year of a few billion dollars (not that I put much faith in comparing years for bequest purposes since timing of bequests is based on hard to predict factors – i.e. death!).
Here is link to Giving USA’s website to get their reports: http://www.aafrc.org/gusa/gusa_order.cfm
I think the immediate take-away from this piece of news is that estate tax or not, charitable bequests will come in.