Today’s principles of gift planning were born in the 1920s and refined by the Great Depression. In 1925, New York State recognized the legal right of nonprofits to raise money by issuing annuities, but many practices needed reform. George Huggins gave the country a gift annuity model grounded in actuarial science that earned the confidence of donors and public officials, and raised sorely needed funds for charitable purposes. Over ten Conferences on Gift Annuities held from 1927-1959, economists and bankers taught nervous fund managers how to find appropriate investments, while Huggins showed how to manage an unprecedented lengthening of American lives.
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