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Gifts of Non-Cash Assets—A Phoenix Rising From the Ashes of Recession?Gifts of Non-Cash Assets—A Phoenix Rising From the Ashes of Recession?

Robert F. Sharpe, Jr. discusses the greatest impact on philanthropy during the Great Recession.

Robert F. Sharpe, Jr, CEO

April 17, 2019

14 Min Read
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The mythical Phoenix is said to periodically self-combust before rising from the ashes of its own destruction. While perhaps not a perfect analogy to an interesting trend in charitable gift planning, we’ve certainly witnessed the taking flight anew of gifts of appreciated assets since the depths of the Great Recession a decade ago when the Dow Jones Industrial Average closed at 6,547 on March 9, 2009.

Internal Revenue Service data1 now confirms that the greatest impact on philanthropy during the Recession came as a result of reductions in gifts of non-cash assets. Gifts of cash were little impacted in the wake of the investment and real estate market crashes of 2008-2009. See “Cash Gifts,” p. 9, for IRS reports on itemized charitable gift...

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About the Author

Robert F. Sharpe, Jr

CEO, Encore

Robert F. Sharpe, Jr. is CEO of Encore in Memphis, Tenn. He is a nationally recognized pioneer, leader and authority in the field of philanthropy. During more than 35 years serving America’s nonprofit community, he has consulted nationally with educational, health, social service, arts and religious organizations and institutions in the planning and implementation of their major, planned gift and endowment development efforts. A graduate of Vanderbilt University and Cornell Law School, he served as a development officer for a liberal arts college prior to practicing law with a major law firm specializing in taxation and estate planning.

Robert is chairman of the philanthropy editorial board of Trusts & Estates magazine and co-author of the National Association of Charitable Gift Planners (CGP) Model Standards of Gift Valuation. He has served on the board of Giving USA and on strategic task forces for the CGP. Among other publications, his remarks have been featured in The Wall Street Journal, The New York Times, Newsweek, Forbes, Smart Money, The Chronicle of Philanthropy and Kiplinger’s.

He is a frequent speaker at gatherings across the country including Planned Giving Councils in New York, Washington, Chicago, and Los Angeles, the National Association of Charitable Gift Planners national conference, the Association of Fundraising Professionals (AFP) National Conference, and the American Bankers Association Wealth Management and Trust Conference.