The individual *cannot* obligate the DAF to give any amount to any
organization. Furthermore, there is no guarantee that there will be any
funds available for the estate to recommend at the time of death. While
such an indication of intent might be possible there is nothing to count.
John
John H. Taylor
Principal, John H. Taylor Consulting
2604 Sevier St.
Durham, NC 27705
johntaylorconsulting@gmail.com
919.816.5903 (cell/text)
Serving the Advancement Community Since 1987
On Thu, Feb 14, 2019 at 3:15 PM Fazio, LaDona <
ladonafazio@stmarksschool.org>
wrote:
> A bit more info...
> As I am new to SM and still going through gifts and documentation, I found
> that our Director of Planned Giving instructed my predecessor to count a
> bequest from a DAF based off of a conversation he had with the donor.
> Clearly, that isn't appropriate and I am requiring him to get appropriate
> documentation, otherwise I am removing it from the books. My understanding
> is that instead of naming a successor to make grants from their
> donor-advised fund, he would like to name us to receive the balance left in
> the account. According to our Director of PG, plannedgiving.com, says
> that a donor can do this, I just don't know if we treat it differently than
> a regular bequest, other than who the legal donor is. Also, since the
> donor can likely change the beneficiary, should be even count it? Is it
> like life insurance policy that we don't own, so we don't count it? Also,
> because the value of the DAF can fluctuate so much depending on how much
> they contribute annually and how many grants they recommend, how can we
> accurately value it?
>
>
>
>
>
>
>
>
> A bit more information is needed. A DAF normally does not bequeath
> money. So I am assuming that an individual either stipulated that upon
> their death an application would be made to the DAF for a grant - or when
> they gave to the DAF there was some sort of beneficiary designation.
> Anyway, it would be helpful to see all of the documentation you have been
> provided. But absent that you probably would record the DAF gift like any
> other with soft-credit to the deceased individual.
>
> John
>
> John H. Taylor
> Principal, John H. Taylor Consulting
> 2604 Sevier St.
> Durham, NC 27705
> <[log%20in%20to%20unmask]>[log in to unmask]
> <http://listserv.fundsvcs.org/scripts/wa-FUNDSVCS.exe?LOGON=A3%3Dind1902%26L%3DFUNDSVCS%26E%3Dquoted-printable%26P%3D6261572%26B%3D--000000000000fe2cde0581e008fe%26T%3Dtext%252Fhtml%3B%2520charset%3DUTF-8%26pending%3D>
> 919.816.5903 (cell/text)
>
> Serving the Advancement Community Since 1987
>
>
> On Thu, Feb 14, 2019 at 2:46 PM Fazio, LaDona < <[log%20in%20to%20unmask]>[log
> in to unmask]
> <http://listserv.fundsvcs.org/scripts/wa-FUNDSVCS.exe?LOGON=A3%3Dind1902%26L%3DFUNDSVCS%26E%3Dquoted-printable%26P%3D6261572%26B%3D--000000000000fe2cde0581e008fe%26T%3Dtext%252Fhtml%3B%2520charset%3DUTF-8%26pending%3D>>
> wrote:
>
>> Hi all,
>>
>> I'm new to taking bequests from donor advised funds. We didn't have any
>> at my previous institutions. Is there anything different to booking these
>> from a regular bequest? Is a copy of their beneficiary designation form
>> appropriate documentation?
>>
>> If I am missing something, please let me know.
>>
>> Thanks,
>> LaDona
>>
>> --
>> *LaDona Fazio*
>> Director of Advancement Services and Data Analytics
>> St. Mark's School
>> 25 Marlboro Road
>> Southborough, MA 01772
>> Office: 508-786-6223
>>
>
> --
> *LaDona Fazio*
> Director of Advancement Services and Data Analytics
> St. Mark's School
> 25 Marlboro Road
> Southborough, MA 01772
> Office: 508-786-6223
>