What do you like best about working in Planned Giving?

The main reason I enjoy working in Planned Giving is the opportunity to build longstanding relationships with our clients, such as the organization I mentioned above. In addition, I enjoy the long-term relationships I have with colleagues throughout the BNY Mellon organization. With a background in Operations and Compliance, I am able to interact with various departments within the Planned Giving organization and meet the needs of our clients. 

As year-end was quickly approaching, it was determined that the best option for this donor was to establish two planned gifts with highly appreciated common stock. The first was a ten-year term charitable remainder annuity trust. It would pay the donor a fixed amount while he was living, and then his spouse for the remainder of the trust term, if he predeceased her, with the balance of the trust then being transferred to the charitable organization after the set term. The second was a deferred gift annuity, which would begin paying the donor 10 years from the funding date, allowing the payout rate to grow significantly during the deferral period, for his life and then for the life of his spouse if he predeceased her. Both the trust document and gift annuity contract included language that allowed the donor the right to revoke the interest to his spouse, exercisable in his Last Will and Testament. 

By establishing the two separate planned gifts, the donor was able to make two large, gifts totaling nearly $4.2 million to the organization with the accompanying charitable deduction, defer the realization of capital gain on his highly appreciated common stock, receive a smaller stream of income while he was younger and still working, receive a larger stream of income after he retired, and protect his asset in the case of divorce. It was a win-win for everyone involved.

What do you like best about working in Planned Giving?

What I like best about working in Planned Giving is the people. The interactions with my colleagues and clients on a day-to-day basis bring me joy. We are all working together to achieve the donors’ intentions and support the charitable organizations.

What do you like best about working in Planned Giving?

I love working with my colleagues, some of them I have known for over 20 years. I cherish the long-time relationships with our clients. They are great to work with and several of them have been with BNY Mellon Planned Giving for 30 years. Perhaps most importantly, I love seeing the end results of the gifts the donors establish and how it ultimately helps someone to receive a scholarship, food, shelter, or fund research in finding a cure for an illness. It feels great to know I play a part of something wonderful.

What do you like best about working in Planned Giving?

I enjoy the challenge of working with smart, capable, motivated and creative people that are passionate about what they do. Planned Giving has given me the opportunity to work with talented colleagues and clients from across the country. Before I started in Planned Giving 16 years ago, I had worked in investment management for almost a decade, but had never spoken directly to a client. Planned Giving has helped me see that investments, despite how technical they may seem, are really about people.

What do you like best about working in Planned Giving?

What I love most about working in Planned Giving is that there is always something to learn. The industry is constantly evolving and shifting as the needs of individuals and organizations change. And to keep up, there is always a strategy, tactic or process that can be explored to solve any problem or accomplish any goal. Even after 15 years in the industry, I learn something new each day.

What do you like best about working in Planned Giving?

This is my 25th year with BNY Mellon, and my 21st year with Philanthropic Solutions. Throughout my career, I’ve been blessed to work with colleagues and managers who are the best in the business. I have never been bored with my job, as there’s always a problem to solve, an idea to build on, and an assist to savor. Our clients are just as passionate as we are, and our shared vision drives us to the same ultimate purpose.

My favorite success stories almost always involve interactions with our clients’ donors. One of my favorites involves a donor I was introduced to about 20 years ago. A client asked me to have a call with her to address concerns about the value of her trust. We had the call, and I reminded the donor of how the trusts work; that despite the decline in the market, she was still receiving her 8.5% payout. Fast forward to the present—through several gift planning officers at the client—and the donor has called me every year to see how much she will have from the trust to contribute to her budget. During the winter of 2015, the donor (who lives in California) also called me after every snowstorm she saw on the news to make sure I was okay. I have become the one she comes to for all information regarding the trust.

What do you like best about working in Planned Giving?

That’s easy… it’s the people: my colleagues, our clients and others in the industry, including the competition. I don’t think I’ve ever met such a collaborative group of individuals. It’s not about the level of experience or the title; we all make time to help each other.