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What are annual gifts, gift commitments and deferred gifts?

April 26, 2017annual commitments Deferred gift gifts

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What are annual gifts, gift commitments and deferred gifts?

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An annual gift is a single gift given in a particular year. Most often annual gifts are given to support a program’s most immediate needs. A gift commitment (pledge) involves an agreement in which the donor pledges to make gift contributions at specified times, usually annually for three to five years. Gift commitments are often used to establish an endowment for a specific purpose. A deferred gift occurs when the gift is specified to be given sometime in the future, such as a gift from an estate, trust or insurance policy.