FundSvcs Community

Hello - One of our major donors plans to fully transfer ownership of a seven-figure life insurance policy to our foundation. We just received the appraisal of the policy, and it is currently valued about half the face value. I know that this is a gift of property, and we will not include a value on the receipt/acknowledgement. My question is how do we  determine the value to record on the donor's record - is it simply the appraised value, face value, or other? Thank you!!

Hello - One of our major donors plans to fully transfer ownership of a seven-figure life insurance policy to our foundation. We just received the appraisal of the policy, and it is currently valued about half the face value. I know that this is a gift of property, and we will not include a value on the receipt/acknowledgement. My question is how do we  determine the value to record on the donor's record - is it simply the appraised value, face value, or other? Thank you!!