All of the following are plausible reasons why a charity might not want to encourage donors to give by creating and paying the premiums on new life insurance policies owned by the charity, EXCEPT 1. Depending on policy structure, the donor may give for years, and charity receives nothing due to later policy lapse 2. The charity may prefer to have current gifts today, rather than waiting to receive a benefit at the death of the donor 3. Premium payments made by the donor directly to the life insurance company will not result in ongoing charitable deductions for the donor 4. Donors may give less in current gifts to the charity because they are also making premium payments (i.e., current giving is cannibalized) 5. The charity may not, under state law, have an insurable interest sufficient to justify a new policy of the intended size