The term "planned giving" was coined in 1969 by Robert F. Sharpe, Sr.: "A donor usually considers a current gift to your institution as a cash outlay now.
In 1942, Hawley introduced what became known as the Pomona Plan, where members receive a lifetime annuity in exchange for donating to the college upon their death.
Efforts to encourage planned gifts are popular among thousands of colleges, universities, hospitals, museums and community foundations in the United States.
Reports published during and after the Great Depression of the 1930s indicate that planned gifts provided a higher percentage of philanthropic dollars than in times of economic prosperity.
Research shows that planned giving may become considerably more important as a type of philanthropy in the United States due to the aging Baby Boomer population.