An arrangement where a donor makes an initial gift to a
trust or directly to the not-for-profit organization, in which the
not-for-profit organization has a beneficial interest but is not the
sole beneficiary is known as a

(d) According to the AICPA Audit and Accounting
Guide, Not-for-Profit Organizations,
Under a split-interest agreement, a donor makes an initial gift to a
trust or directly to the not-for-profit organization, in which the notfor-
profit organization has a beneficial interest but is not the sole
beneficiary....The assets are invested and administered by the
organization, a trustee, or a fiscal agent, and distributions are made
to a beneficiary or beneficiaries during the term of the agreement.
At the end of the agreement’s term, the remaining assets covered by
the agreement are distributed to or retained by either the not-forprofit
organization or another beneficiary or beneficiaries.