B.7. Bequest or Deferred Gift
     January 1989

Development Policy and Administration Manual 
Chapter V. Requirements for Reporting Gifts
Section B. Reporting Categories and Definitions     
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                         BEQUEST OR DEFERRED GIFT


This category identifies gifts originating by bequest or through
a deferred giving vehicle.  These definitions are mutually
exclusive; a gift should be classified either as a bequest or as
a deferred gift.  


Bequests

Bequests are defined as the actual assets received by provision
of Will or by court order at the distribution of estate assets
following a donor's death.  For additional information about
bequests, see Section IV: E.2.  


Deferred Gifts

These include charitable remainder unitrusts, charitable remaind-
er annuity trusts, charitable lead trusts, pooled income funds,
externally held trusts, real property with a retained life
interest, and life insurance if it is maintained rather than
surrendered for cash.  For additional information regarding
deferred gifts, see Section IV: E.3.