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September, 2004
In This
Issue
President’s Message
First Planned Giving Service Award
Professional Advisor’s Corner –
“Philanthropy as Good Business”
Council Member Profile - Chris
Yates
2005 Planned Giving Conference &
Sponsor Thanks
Welcome 2004 Members
Legislative Update
September and October meeting
information
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From President Ann Barden’s Desk
The Northern California Planned Giving Council has been blessed with the
efforts of many talented and determined people in the past few months.
Dien Yuen and her committee of Donna Bandelloni, Suzanne Cross, Stuart
Kaufman, Bill Sheehan, Virginia Stuart, Jay Auslander, and Dick Lamport
produced what many have dubbed the “best Conference ever.” Profound
thanks to that committee for its dogged persistence and its amazing hard
work.
Hal Abrams, Susan Collins and Phil Hayes worked diligently on creating
the first Phil Hoffmire Planned Giving Service Award. What a wonderful
choice of Phil Murphy as the first recipient – and what an elegant and
gracious acceptance speech from Phil at the Conference.
Susie McGlynn, Communications Chair, has worked to create the Council’s
first website. Visit www.NCPGCouncil.org to view her achievements. Susie
has also brought the Council an on-line newsletter and deserves much
kudos for this accomplishment.
Earl Blauner, Government Chair, Heidi Strassburger, Vice President and
Jeff Shields, Immediate Past President have taken on the California
State legislature to make Charitable Gift Annuities governed by
California statute, more reflective of Gift Annuity standards now
accepted throughout the country. This work has involved late nights,
travel, public testimony and the building of many alliances throughout
California. The philanthropic community is deeply indebted to these
individuals.
And, the glue of the Council, Executive Director Brenda Herrington, has
done monumental work this year, keeping all in order, supervising
communications and even convening several facets of the programmatic arm
of the Council to ensure that Planned Giving education occurs in a
logical and cohesive manner.
Sooooo…as President, all I’ve really had to do is buff my nails, eat a
few bon bons and bask in the achievements of some really great Council
members. What a delightful year this has been.
Sincerely – my profound thanks to everyone who has helped make this year
such a good year for the Northern California Planned Giving Council.
First Planned Giving Service Award Presented to Phil Murphy
Audrey Yee, Past President
Golden Gate National Parks Conservancy
 A very special award was presented at the 2004 Northern California
Planned Giving Conference – the Phil Hoffmire Planned Giving Service
Award, in honor of one of ESOC’s finest and noblest members. Philip W.
Hoffmire, who received undergraduate and law degrees from Cornell
University, was an early Convenor of the Every-So-Often-Club and later
ably served as longtime chair of the Ethics Committee of the Northern
California Planned Giving Council. Phil had vision: he gave structure to
the loose-knit group when he hired Brenda Payne Herrington as
administrator. His wisdom and experience were paired well with his
humility and compassion. Phil was a friend – and inspiration – to all
fortunate enough to have crossed paths with him.
It was only fitting that the first award be presented to a member of our
council whose professional accomplishments have made a significant and
lasting impact on our planned giving community and who has earned the
respect and admiration of his colleagues, as Phil had. Phil Murphy –
Phil Hoffmire’s successor as Convenor/President who also has served on
the Conference, Program, and Ethnic Philanthropy Committees – saw the
primer and masters programs born during his leadership; as President, he
also advocated for a socially responsible investment portfolio. His
sense of humor, tireless efforts on behalf of philanthropy, and ability
to find consensus are among his most admired and recognizable traits.
Phil’s accomplished educational background – MBA from Pepperdine
University and postgraduate work at Columbia University – as well as
over 30 years of development experience have served his clients – and
members of the Planned Giving Council – well.
Phil was particularly touched to receive this award because of the
“idealism” which he shared with Phil Hoffmire: that gift opportunities
are merely the means to accomplish the ends of a cause but that the
primary emphasis must be on the worthiness of the cause, that the
ultimate motive must be philanthropic, “that great planned giving
programs are centered on great causes.” Phil modestly credits his
involvement with the Planned Giving Council – including Brenda and the
other volunteers who have led the Council and its Committees – with
empowering him as well as others through their Council membership to
better serve their organization and community.
Hearty congratulations, Phil.
Professional Advisor’s Corner “Philanthropy as Good Business”
Norman M. Boone, CFP®
Boone Financial Advisors, Inc. - San Francisco/Oakland
Do you talk with your clients about the impact and implications of their
charitable giving activities or the possibility of getting involved with
philanthropy? Helping clients explore and begin to realize ways to
leverage their dollars, make investments in the community and contribute
to improving the quality of life around them can not only be exciting,
but is also a great way to strengthen client relationships.
Including philanthropy as part of your financial planning discussions
has great potential value for your clients. It’s integral to estate and
intergenerational planning and to optimizing tax benefits. It also can
help your clients create a meaningful personal and family legacy.
While recognizing its potential, professionals often have a hard time
knowing how to raise the topic with their clients. Here are some
questions that you can use in your discussions with clients:
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What charitable giving activities are you currently involved in
(either with money or time)?
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What causes, issues and activities are you most interested in,
passionate about, or even curious about?
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What motivates your charitable giving activities? Do you want to make
an impact/create or facilitate change within your community? With
specific populations? Around specific issues?
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How would you like to be remembered? What kind of “legacy’ do you want
to leave?
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Have you discussed your charitable interests, plans and activities
with your family members?
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Is charitable giving/involvement something you’d like your kids and
grandkids to do themselves? Have you given any thought to how you might
help them begin?
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Have family members been involved in any of your charitable giving
decisions thus far? Would you like it if they were?
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Given your other commitments, how much time do you have to devote to
your philanthropic endeavors?
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Are there specific values or goals you would like to incorporate into
your estate or financial plan or your investment strategy?
Advisors have an opportunity to get their clients thinking strategically
about philanthropy as an integrated part of their long term planning.
Raising the topic is the first step, but certainly not the only one. It
is often necessary to bring in other advisors and even family members to
further the discussion, support the giving strategy and work out the
details. Legal counsel should be involved where there are estate
planning issues and to advise about the most viable vehicle to implement
charitable strategy. Accounting professionals provide advice and
implementation on tax compliance and the interrelation of various
vehicles. Investment advisors can manage philanthropic funds and can
bring expertise about special rules, such as UBTI, and they coordinate
the philanthropic funds with the client’s other portfolio assets.
Philanthropic consultants and many charitable organizations can be
helpful as clients establish and maintain their own philanthropic
mission, focus and methodology. You don’t have to know it all yourself.
By bringing together a team and moving them along, you can support your
client’s desires and strengthen your own relationship.
Mission based (value based) planning helps to clients’ marry their
values with the strategies they employ to “invest” their financial
resources. Increasingly, professionals are learning the importance of
going beyond the initial facts as they try to serve the whole client,
rather than limit themselves to the most obvious issue. Helping clients
review their own lives, their wished-for directions and the legacies
they want to leave can make for the most meaningful client service.
Whether it is introducing charitable giving as part of the financial
planning mix or discussing mission-based gifting, as professionals we
want to support and expand the interests of our clients. As part of
comparing and recommending appropriate planning strategies, advisors
have a professional obligation to their clients to make sure they think
through if and how to include philanthropy in their plans.
NCPGCouncil Member Profile
Chris Yates,
Director of Planned Giving, Stanford University, Stanford, CA
Education and Planned Giving Background
BA, Stanford University, History and Economics (1981)
JD, University of Chicago Law School (1986)
1992-1998 Associate Director of Planned Giving, Stanford University,
Stanford, CA
1998-2003 Director of Gift and Estate Planning, Caltech, Pasadena, CA
2003- Director of Planned Giving, Stanford University, Stanford, CA
What do you enjoy most about your work?
Interaction with donors and their advisors, strategizing around the
marketing of planned gifts, mentoring planned giving staff, involvement
with NCPG and local planned giving councils
What is the biggest challenge in your work?
Finding time to stay on top of everything -- including keeping up to
date on technical aspects, management of staff, responsiveness to donor
and fundraiser inquiries/requests, donor cultivation and stewardship,
marketing efforts, and staying within allocated budget for our office.
Tell us your philosophy of work:
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As a manager, I am always thinking of how I would want to be treated by
my own supervisor. I believe in maintaining a workplace where calm
reason prevails, where respect and tolerance amongst the staff is
practiced at all times, and where we can feel free to have some fun., I
like to think that I promote a positive atmosphere in which our best
qualities and achievements are recognized and appreciated.
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As a fundraiser, I am always thinking of how I would expect to be
treated by an organization that I am supporting with my gifts.
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As an individual, I feel that I constantly struggle to maintain a
healthy balance between work and personal life, reminding myself that if
the balance tilts too far towards work, it will likely make me a less
effective employee.
Note one of your best planned gifts stories
A donor and Stanford alumnus who I met early in my career passed away
late in 2003. We had worked together over a number of years to set up
several life income gifts (both gift annuities and CRUTs), several of
which benefited he and his wife (who passed away several months before
he died), and a couple of which were set up to benefit his only child. I
became good friends with him, his wife, and later on with his son. They
knew that I loved to swim, so when I would go to visit them at their
retirement home they always had a visitor’s recreation pass waiting for
me so that I could use the pool (a very nice pool, I might add) at the
conclusion of our visit. There were times when I didn’t necessarily feel
like swimming, but they seemed to take such joy in providing access to
the pool that I felt I could not let them down (I even remember swimming
once in the rain). This donor was a very disciplined investor and saver
(yes, he was also a member of the “Greatest Generation” – both he and
his wife served in the military during World War II). He was very
careful with money and liked to plan out every possible detail for the
future. He became a true believer in the benefits of life income gifts
and promoted them to all his friends and acquaintances. He eventually
transferred much of his estate to Stanford before he died via these life
income gifts, which was in line with his guiding philosophy of “dying
penniless” and without any estate tax liability. His son was initially
suspicious about the life income gifts that were set up for his benefit,
but later came to appreciate that his father wanted to set up a system
that would help protect assets over the long run and give him access to
expert investment management. It was very sad to lose both of these
friends when they passed away, but I can now say that it is very
satisfying to see how all the careful strategies that were put in place
during his lifetime are working out exactly as he planned.
What are your special interests?
Travel, city walks, day hikes, bicycling, modern dance (like the Smuin
Ballet company), the beach, swimming, politics, human and civil rights
Do you have a favorite restaurant?
I have lots of favorite restaurants, but if pressed for my absolute
favorite, I would have to say it is “Firefly” in the Noe Valley
neighborhood in San Francisco.
Your best resource people?
That’s a tough question, because I use lots of resources in my daily
routine. I use the internet frequently in my work, and often refer to
websites like NCPG and the Planned Giving Design Center. If you are
asking about an individual as a resource, then I would have to say that,
without a doubt, that person is Howie Pearson, who is Director of
Principal Gifts and Development Legal Counsel here at Stanford. He is an
expert in both the technical and non-technical aspects of this field,
and he is always approachable and friendly.
Advice to new
planned giving professional
Get involved in your local planned
giving council!
2005 Northern California Planned Giving Conference
Dien Yuen, U.S. Trust
2005 Conference Chair
Networking. Seeing old friends. Great speakers. Good up-to-date
information.
These are among the many other personal and professional benefits that
have made the annual NCPGC Conference the most anxiously anticipated
one-day event of the year for planned giving professionals in the
region. They are also the reasons that each year, NCPGC proudly thanks
an even greater number of sponsors at its annual event.
The excitement of the industry’s premier event in this region is evident
at every session and carries onto the exhibit floor. The momentum
created by past Conferences continues to build and validates the pride
and hard work that come from the support provided by our sponsors- many
of which return year after year.
These sponsors continue to support and participate in our Conferences
because they truly believe in raising the level of technical skills and
competence of those in the field, a goal that NCPGC also shares. What
better way then to support a one-day program that includes sessions for
those just beginning to those very experienced in the field? For
example, several interesting responses we noted on our evaluation forms
were “good for the money” and “lowest cost, one day, well-rounded
Conference.” However, did you know that if we didn’t have any sponsors
at all- the cost to attend the Conference would have doubled? For
example, the luncheon and facility costs alone would have been $125 per
person (the same price that early bird registrants pay).
Sponsors not only share part of our costs in hosting the event, but they
also contribute tremendously to our profession. For example, several of
our sponsors have now provided scholarships to attendees of selected
non-profit organizations in order to increase the diversity in our
profession.
As our 2005 Conference approaches (May 9th), we hope you will take the
time to thank our past sponsors and encourage them to join us again next
year. Of course, we hope to see you there too!
THANKS to the 2004 Conference Sponsors
Platinum
Wells Fargo Private Client Group
Diamond
The Bank of New York
Kaspick & Company, LLC
Morgan Stanley
Gold
Bank of America
Steefel, Levitt & Weiss
Silver
Bank of the West
Bessemer Trust
Clifford Associates
Comerica Bank
Consortium of Community Foundations
Crescendo Interactive
The Mechanics Bank
Mellon
Merrill Lynch |
Northern Trust
PG Calc, Incorporated
Silk, Adler & Colvin
State Street Global Advisors
The Stelter Company
Union Bank of California
US Bank
U.S. Trust Company |
Welcome 2004 Council Members
Mary Alex Women's Funding Network
Marie Bergstedt Villa Montalvo
Michael Burbank UBS Financial Services Inc.
Brent Burns Environmental Defense
Jory Cunningham Earthjustice
Adam Davidow University of California at Santa Cruz
Roger Doughty Horizons Foundation
Kathleen Driscoll The San Francisco Foundation
Bert Feuss Peninsula Community Foundation
Edward Fox Pontifex Consulting Services, Inc.
John Froley AXA Advisors, LLC
Nancy Gaggiolli-Medeiros National Brain Tumor Foundation
Helen Harwood Sisters of the Presentation
Patricia Jackson Cupertino Rotary Club Endowment
Dick Kellogg Future Focus
James King J.P. King & Associates
Ann Lund San Francisco SPCA
Timothy McNamara McNamara Stephens
Leigh Metzler Morgan Stanley
Ron Nakamoto San Francisco Financial Partners
Cheryl Nickerson Tracy Community Memorial Hospital Foundation
Barbara Pierce
Richard Polse
Elizabeth Prince Bay Area Community Services
Barbara Proctor Community Boards
Nayeem Qureshi Foundation Source
Phillip Samrick American Cancer Society, Inc.
Jeffrey Samuel American Cancer Society
Tom Scheffler Scheffler Financial Services, Inc.
Randi Silverman
David Waal 1031 Exchange Options
Stephanie Williams The Marine Mammal Center
Patrick Zalasky Green Oak Charitable Administrators
Legislative Update
Earl Blauner, KQED
Legislative Chair
SB 1088 (Scott), the charitable gift annuity investment bill sponsored
by the Northern California Planned Giving Council continues to make
excellent progress. On August 14, it passed out of the Assembly by a
vote of 71 - 1 and moved to the Governor's desk. We are very hopeful
that the bill will soon become law, effective January 1, 2005.
In what may be a related development, the California Department of
Insurance issued Bulletin No. 2004-2 on July 30th. Effective January 1,
2005, the Department has changed the minimum interest rate and the
mortality table by which charitable gift annuity reserves are
calculated. The Legislative Committee is analyzing the impact of this
action and welcomes advice from NCPGC members who have reviewed these
changes. The Bulletin may be found at
http://www.insurance.ca.gov/
(search for Bulletin No. 2004-2).
September and October Meeting Information
Thursday, September 9 – Primer Program
Time: 9:00 am—11:00am
Speaker: Tom Horton, Guide Dogs
Topic: The ABCs of Charitable Gift Annuities - What are they; why are they important; how can my organization use them?
Cost: $5.00 per person
Reservation Deadline: Mail check by September 2
Thursday, September 9 – Luncheon Program
Time: 11:30am—1:30pm
Speaker: Robert Lew, Planning & Financial Advisors
Topic: Planned Giving & Life Insurance - Are giving opportunities using life insurance viable?
Cost: NCPGC Member $30 advance; Non-Member $45.00 advance. $40/$55 at
the door.
Reservation Deadline: Mail check by September 2
Tuesday, October 19 – Luncheon Program
Joint meeting with the Women Tax Lawyers Association & Annual Meeting
with Election
Time: 11:30am—1:30pm
Speaker: Claudia Hill, EA, Tax Mam, Inc.
Topic: The Role of Charitable Giving in Alternative Minimum Tax Planning
- How AMT works and how charitable giving can lessen the bite.
Cost: NCPGC Member $30 advance; Non-Member $45.00 advance. $40/$55 at
the door.
Reservation Deadline: Mail check by October 12
To Make a Reservation:
Mail a check and business card for each person to the NCPGC Council
office. Checks are payable to “NCPGC”. Address is 4420 Alpine Road,
Suite 200, Portola Valley 94028.
Meeting Location
The World Trade Club, One Ferry Plaza, (behind the Ferry Bldg.) San
Francisco.
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