FundSvcs Community

My personal opinion is that when a donor requires - or agrees to - the movement of their gift from one fund to another, that movement/change should be reflected in RE. In fact, I would initiate the move from within RE causing a correction to the original gift which would then generate a debit to the original fund and a credit to the new fund (automatically within the RE/FE feed process). But to your question, when completing your VSE survey you should reflect where the contributions ENDED as of the close of the fiscal year - provided the move was donor-involved. 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 Wed, Feb 27, 2019 at 11:42 AM Hornbeck, Cynthia <CHornbeck1@twu.edu> wrote: > I have a quick question about how moving money between endowments and > distributions effects VSE reporting. > > > > We have an endowment that has been set up and gifts have been processed to > go into that endowment. It has come to my attention that the Financial > side of the house has been instructed to move some of the money out of the > endowment into the distribution. All parties involved (including the > donor) have approved this movement of the money. > > > > We use two systems for our gift processing and bookkeeping, RE and FE, so > the money is moved in FE from the endowment into the distribution without > any changes being done in RE. > > > > The question I have is since this money is no longer in the endowment on > the Finical side of the house should that be moved in RE so when the VSE > reports are pulled it reflects what had actually taken place. > > > > I understand how moving money between separate funds would need to be > reflected on both sides of the house (RE and FE) I was just sure about > funds between an endowment and distribution. > > > > This next reporting cycle will be the first time for us (since I have been > here) to report our data to the VSE and I am just trying to make sure I > understand how all this works and we have procedures in place so our > numbers will be correct. > > > > > > > > Thank you, > > Cynthia Hornbeck > > University Advancement > > 940-898-3894 > > CHornbeck1@twu.edu > > [image: > https://www.blackbaud.com/files/training/jobaids/CSOD/Badges/certification_b/PRO_Orange.png] > > > > >

Agree absolutely on the retention of the original process date as Aaron mentions! 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 Wed, Feb 27, 2019 at 11:45 AM Forrest, Aaron <aaron.forrest@rochester.edu> wrote: > When a donor changes a designation on a gift from the past, the gift > retains its original gift date and doesn’t impact current year activity or > the VSE. However, you should be updating the activity in your gift system > to reflect the updated designation. My thoughts. > > > > Aaron > > > > Aaron Forrest CPA > > Senior Director Gift and Donor Services > > University of Rochester Office of Advancement > > Larry and Cindy Bloch Alumni and Advancement Center > > 300 East River Road > > Rochester NY 14627 > > Office 585.275.2799 / Fax 585-273-4558 > > Email aaron.forrest@rochester.edu > > > > [image: Description: Description: Description: > cid:image001.gif@01C92E92.3629C5E0] <http://www.rochester.edu/> > > P Please consider the environment before printing this email. > > Confidentiality Notice: This message, including attachments may contain > confidential information. Any unauthorized use, disclosure or distribution > is prohibited. > > > > *From:* Advancement Services Discussion List < > FUNDSVCS@LISTSERV.FUNDSVCS.ORG> *On Behalf Of *Hornbeck, Cynthia > *Sent:* Wednesday, February 27, 2019 11:42 AM > *To:* FUNDSVCS@LISTSERV.FUNDSVCS.ORG > *Subject:* [FUNDSVCS] VSE Reporting > > > > I have a quick question about how moving money between endowments and > distributions effects VSE reporting. > > > > We have an endowment that has been set up and gifts have been processed to > go into that endowment. It has come to my attention that the Financial > side of the house has been instructed to move some of the money out of the > endowment into the distribution. All parties involved (including the > donor) have approved this movement of the money. > > > > We use two systems for our gift processing and bookkeeping, RE and FE, so > the money is moved in FE from the endowment into the distribution without > any changes being done in RE. > > > > The question I have is since this money is no longer in the endowment on > the Finical side of the house should that be moved in RE so when the VSE > reports are pulled it reflects what had actually taken place. > > > > I understand how moving money between separate funds would need to be > reflected on both sides of the house (RE and FE) I was just sure about > funds between an endowment and distribution. > > > > This next reporting cycle will be the first time for us (since I have been > here) to report our data to the VSE and I am just trying to make sure I > understand how all this works and we have procedures in place so our > numbers will be correct. > > > > > > > > Thank you, > > Cynthia Hornbeck > > University Advancement > > 940-898-3894 > > CHornbeck1@twu.edu > > [image: > https://www.blackbaud.com/files/training/jobaids/CSOD/Badges/certification_b/PRO_Orange.png] > > > > >

Questions: -What if the market value was, let's say, $52,000, $2,000 of which is earnings and the agreed amount to move to the other fund was $10,000? -What if multiple donors gave to the endowment? Rob -- sent from cell phone -- Rob Saunders Assistant Vice Chancellor, Advancement Operations University of North Carolina Greensboro 821 S. Josephine Boyd St. PO Box 26170 Greensboro, NC 27402 Phone: 336-334-5920 rssaund3@uncg.edu  On Wed, Feb 27, 2019, 11:51 AM John Taylor <johntaylorconsulting@gmail.com> wrote: > Agree absolutely on the retention of the original process date as Aaron > mentions! > > 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 Wed, Feb 27, 2019 at 11:45 AM Forrest, Aaron < > aaron.forrest@rochester.edu> wrote: > >> When a donor changes a designation on a gift from the past, the gift >> retains its original gift date and doesn’t impact current year activity or >> the VSE. However, you should be updating the activity in your gift system >> to reflect the updated designation. My thoughts. >> >> >> >> Aaron >> >> >> >> Aaron Forrest CPA >> >> Senior Director Gift and Donor Services >> >> University of Rochester Office of Advancement >> >> Larry and Cindy Bloch Alumni and Advancement Center >> >> 300 East River Road >> >> Rochester NY 14627 >> >> Office 585.275.2799 / Fax 585-273-4558 >> >> Email aaron.forrest@rochester.edu >> >> >> >> [image: Description: Description: Description: >> cid:image001.gif@01C92E92.3629C5E0] <http://www.rochester.edu/> >> >> P Please consider the environment before printing this email. >> >> Confidentiality Notice: This message, including attachments may contain >> confidential information. Any unauthorized use, disclosure or distribution >> is prohibited. >> >> >> >> *From:* Advancement Services Discussion List < >> FUNDSVCS@LISTSERV.FUNDSVCS.ORG> *On Behalf Of *Hornbeck, Cynthia >> *Sent:* Wednesday, February 27, 2019 11:42 AM >> *To:* FUNDSVCS@LISTSERV.FUNDSVCS.ORG >> *Subject:* [FUNDSVCS] VSE Reporting >> >> >> >> I have a quick question about how moving money between endowments and >> distributions effects VSE reporting. >> >> >> >> We have an endowment that has been set up and gifts have been processed >> to go into that endowment. It has come to my attention that the Financial >> side of the house has been instructed to move some of the money out of the >> endowment into the distribution. All parties involved (including the >> donor) have approved this movement of the money. >> >> >> >> We use two systems for our gift processing and bookkeeping, RE and FE, so >> the money is moved in FE from the endowment into the distribution without >> any changes being done in RE. >> >> >> >> The question I have is since this money is no longer in the endowment on >> the Finical side of the house should that be moved in RE so when the VSE >> reports are pulled it reflects what had actually taken place. >> >> >> >> I understand how moving money between separate funds would need to be >> reflected on both sides of the house (RE and FE) I was just sure about >> funds between an endowment and distribution. >> >> >> >> This next reporting cycle will be the first time for us (since I have >> been here) to report our data to the VSE and I am just trying to make sure >> I understand how all this works and we have procedures in place so our >> numbers will be correct. >> >> >> >> >> >> >> >> Thank you, >> >> Cynthia Hornbeck >> >> University Advancement >> >> 940-898-3894 >> >> CHornbeck1@twu.edu >> >> [image: >> https://www.blackbaud.com/files/training/jobaids/CSOD/Badges/certification_b/PRO_Orange.png] >> >> >> >> >> >

I am only talking about moving the original gift. When I was at Duke and NC State we did not move earnings/income. 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 Wed, Feb 27, 2019 at 12:11 PM Robert Saunders < 0000003933d430b6-dmarc-request@listserv.fundsvcs.org> wrote: > Questions: > > -What if the market value was, let's say, $52,000, $2,000 of which is > earnings and the agreed amount to move to the other fund was $10,000? > -What if multiple donors gave to the endowment? > > Rob > > -- > sent from cell phone > -- > Rob Saunders > Assistant Vice Chancellor, Advancement Operations > University of North Carolina Greensboro > 821 S. Josephine Boyd St. > PO Box 26170 > Greensboro, NC 27402 > Phone: 336-334-5920 > rssaund3@uncg.edu >  > > > > > On Wed, Feb 27, 2019, 11:51 AM John Taylor <johntaylorconsulting@gmail.com> > wrote: > >> Agree absolutely on the retention of the original process date as Aaron >> mentions! >> >> 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 Wed, Feb 27, 2019 at 11:45 AM Forrest, Aaron < >> aaron.forrest@rochester.edu> wrote: >> >>> When a donor changes a designation on a gift from the past, the gift >>> retains its original gift date and doesn’t impact current year activity or >>> the VSE. However, you should be updating the activity in your gift system >>> to reflect the updated designation. My thoughts. >>> >>> >>> >>> Aaron >>> >>> >>> >>> Aaron Forrest CPA >>> >>> Senior Director Gift and Donor Services >>> >>> University of Rochester Office of Advancement >>> >>> Larry and Cindy Bloch Alumni and Advancement Center >>> >>> 300 East River Road >>> >>> Rochester NY 14627 >>> >>> Office 585.275.2799 / Fax 585-273-4558 >>> >>> Email aaron.forrest@rochester.edu >>> >>> >>> >>> [image: Description: Description: Description: >>> cid:image001.gif@01C92E92.3629C5E0] <http://www.rochester.edu/> >>> >>> P Please consider the environment before printing this email. >>> >>> Confidentiality Notice: This message, including attachments may contain >>> confidential information. Any unauthorized use, disclosure or distribution >>> is prohibited. >>> >>> >>> >>> *From:* Advancement Services Discussion List < >>> FUNDSVCS@LISTSERV.FUNDSVCS.ORG> *On Behalf Of *Hornbeck, Cynthia >>> *Sent:* Wednesday, February 27, 2019 11:42 AM >>> *To:* FUNDSVCS@LISTSERV.FUNDSVCS.ORG >>> *Subject:* [FUNDSVCS] VSE Reporting >>> >>> >>> >>> I have a quick question about how moving money between endowments and >>> distributions effects VSE reporting. >>> >>> >>> >>> We have an endowment that has been set up and gifts have been processed >>> to go into that endowment. It has come to my attention that the Financial >>> side of the house has been instructed to move some of the money out of the >>> endowment into the distribution. All parties involved (including the >>> donor) have approved this movement of the money. >>> >>> >>> >>> We use two systems for our gift processing and bookkeeping, RE and FE, >>> so the money is moved in FE from the endowment into the distribution >>> without any changes being done in RE. >>> >>> >>> >>> The question I have is since this money is no longer in the endowment on >>> the Finical side of the house should that be moved in RE so when the VSE >>> reports are pulled it reflects what had actually taken place. >>> >>> >>> >>> I understand how moving money between separate funds would need to be >>> reflected on both sides of the house (RE and FE) I was just sure about >>> funds between an endowment and distribution. >>> >>> >>> >>> This next reporting cycle will be the first time for us (since I have >>> been here) to report our data to the VSE and I am just trying to make sure >>> I understand how all this works and we have procedures in place so our >>> numbers will be correct. >>> >>> >>> >>> >>> >>> >>> >>> Thank you, >>> >>> Cynthia Hornbeck >>> >>> University Advancement >>> >>> 940-898-3894 >>> >>> CHornbeck1@twu.edu >>> >>> [image: >>> https://www.blackbaud.com/files/training/jobaids/CSOD/Badges/certification_b/PRO_Orange.png] >>> >>> >>> >>> >>> >>

Absolutely you would need all donors approval to repurpose any of their gifts. John Taylor 919.816.5903 johntaylorconsulting@gmail.com Big ideas; small keyboard > On Feb 27, 2019, at 12:29 PM, Hornbeck, Cynthia <CHornbeck1@twu.edu> wrote: > > I am thinking that if there is more than one donor you would need to contact each donor and make sure they are ok with the movement of their gift. I am not sure how that would work with the earnings. > > I got lucky on the fund this happened with > > 1) It is a new endowment so no funds have been invested yet > 2) We just had one donor who has given so only one person had to be contacted > > Thank you, > Cynthia Hornbeck > <image001.png> > University Advancement > 940-898-3894 > CHornbeck1@twu.edu > <image002.png> > > > From: Advancement Services Discussion List [mailto:FUNDSVCS@LISTSERV.FUNDSVCS.ORG] On Behalf Of Robert Saunders > Sent: Wednesday, February 27, 2019 11:11 AM > To: FUNDSVCS@LISTSERV.FUNDSVCS.ORG > Subject: Re: [FUNDSVCS] VSE Reporting > > Questions: > > -What if the market value was, let's say, $52,000, $2,000 of which is earnings and the agreed amount to move to the other fund was $10,000? > -What if multiple donors gave to the endowment? > > Rob > > -- > sent from cell phone > -- > Rob Saunders > Assistant Vice Chancellor, Advancement Operations > University of North Carolina Greensboro > 821 S. Josephine Boyd St. > PO Box 26170 > Greensboro, NC 27402 > Phone: 336-334-5920 > rssaund3@uncg.edu >  > > > > > On Wed, Feb 27, 2019, 11:51 AM John Taylor <johntaylorconsulting@gmail.com> wrote: > Agree absolutely on the retention of the original process date as Aaron mentions! > > 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 Wed, Feb 27, 2019 at 11:45 AM Forrest, Aaron <aaron.forrest@rochester.edu> wrote: > <image003.gif> > When a donor changes a designation on a gift from the past, the gift retains its original gift date and doesn’t impact current year activity or the VSE. However, you should be updating the activity in your gift system to reflect the updated designation. My thoughts. > > Aaron > > Aaron Forrest CPA > Senior Director Gift and Donor Services > University of Rochester Office of Advancement > Larry and Cindy Bloch Alumni and Advancement Center > 300 East River Road > Rochester NY 14627 > Office 585.275.2799 / Fax 585-273-4558 > Email aaron.forrest@rochester.edu > > <image004.jpg> > P Please consider the environment before printing this email. > Confidentiality Notice: This message, including attachments may contain confidential information. Any unauthorized use, disclosure or distribution is prohibited. > > From: Advancement Services Discussion List <FUNDSVCS@LISTSERV.FUNDSVCS.ORG> On Behalf Of Hornbeck, Cynthia > Sent: Wednesday, February 27, 2019 11:42 AM > To: FUNDSVCS@LISTSERV.FUNDSVCS.ORG > Subject: [FUNDSVCS] VSE Reporting > > I have a quick question about how moving money between endowments and distributions effects VSE reporting. > > We have an endowment that has been set up and gifts have been processed to go into that endowment. It has come to my attention that the Financial side of the house has been instructed to move some of the money out of the endowment into the distribution. All parties involved (including the donor) have approved this movement of the money. > > We use two systems for our gift processing and bookkeeping, RE and FE, so the money is moved in FE from the endowment into the distribution without any changes being done in RE. > > The question I have is since this money is no longer in the endowment on the Finical side of the house should that be moved in RE so when the VSE reports are pulled it reflects what had actually taken place. > > I understand how moving money between separate funds would need to be reflected on both sides of the house (RE and FE) I was just sure about funds between an endowment and distribution. > > This next reporting cycle will be the first time for us (since I have been here) to report our data to the VSE and I am just trying to make sure I understand how all this works and we have procedures in place so our numbers will be correct. > > > > Thank you, > Cynthia Hornbeck > <image001.png> > University Advancement > 940-898-3894 > CHornbeck1@twu.edu > <image002.png> > >

I have a quick question about how moving money between endowments and distributions effects VSE reporting. We have an endowment that has been set up and gifts have been processed to go into that endowment. It has come to my attention that the Financial side of the house has been instructed to move some of the money out of the endowment into the distribution. All parties involved (including the donor) have approved this movement of the money. We use two systems for our gift processing and bookkeeping, RE and FE, so the money is moved in FE from the endowment into the distribution without any changes being done in RE. The question I have is since this money is no longer in the endowment on the Finical side of the house should that be moved in RE so when the VSE reports are pulled it reflects what had actually taken place. I understand how moving money between separate funds would need to be reflected on both sides of the house (RE and FE) I was just sure about funds between an endowment and distribution. This next reporting cycle will be the first time for us (since I have been here) to report our data to the VSE and I am just trying to make sure I understand how all this works and we have procedures in place so our numbers will be correct. Thank you, Cynthia Hornbeck [cid:image002.png@01D4CE81.27EA5A40] University Advancement 940-898-3894 CHornbeck1@twu.edu<mailto:CHornbeck1@twu.edu> [https://www.blackbaud.com/files/training/jobaids/CSOD/Badges/certification_b/PRO_Orange.png]

When a donor changes a designation on a gift from the past, the gift retains its original gift date and doesn't impact current year activity or the VSE. However, you should be updating the activity in your gift system to reflect the updated designation. My thoughts. Aaron Aaron Forrest CPA Senior Director Gift and Donor Services University of Rochester Office of Advancement Larry and Cindy Bloch Alumni and Advancement Center 300 East River Road Rochester NY 14627 Office 585.275.2799 / Fax 585-273-4558 Email aaron.forrest@rochester.edu [Description: Description: Description: cid:image001.gif@01C92E92.3629C5E0] <http://www.rochester.edu/> P Please consider the environment before printing this email. Confidentiality Notice: This message, including attachments may contain confidential information. Any unauthorized use, disclosure or distribution is prohibited. From: Advancement Services Discussion List <FUNDSVCS@LISTSERV.FUNDSVCS.ORG> On Behalf Of Hornbeck, Cynthia Sent: Wednesday, February 27, 2019 11:42 AM To: FUNDSVCS@LISTSERV.FUNDSVCS.ORG Subject: [FUNDSVCS] VSE Reporting I have a quick question about how moving money between endowments and distributions effects VSE reporting. We have an endowment that has been set up and gifts have been processed to go into that endowment. It has come to my attention that the Financial side of the house has been instructed to move some of the money out of the endowment into the distribution. All parties involved (including the donor) have approved this movement of the money. We use two systems for our gift processing and bookkeeping, RE and FE, so the money is moved in FE from the endowment into the distribution without any changes being done in RE. The question I have is since this money is no longer in the endowment on the Finical side of the house should that be moved in RE so when the VSE reports are pulled it reflects what had actually taken place. I understand how moving money between separate funds would need to be reflected on both sides of the house (RE and FE) I was just sure about funds between an endowment and distribution. This next reporting cycle will be the first time for us (since I have been here) to report our data to the VSE and I am just trying to make sure I understand how all this works and we have procedures in place so our numbers will be correct. Thank you, Cynthia Hornbeck [cid:image006.png@01D4CE91.F58F3550] University Advancement 940-898-3894 CHornbeck1@twu.edu<mailto:CHornbeck1@twu.edu> [https://www.blackbaud.com/files/training/jobaids/CSOD/Badges/certification_b/PRO_Orange.png]

I am thinking that if there is more than one donor you would need to contact each donor and make sure they are ok with the movement of their gift. I am not sure how that would work with the earnings. I got lucky on the fund this happened with 1) It is a new endowment so no funds have been invested yet 2) We just had one donor who has given so only one person had to be contacted Thank you, Cynthia Hornbeck [cid:image001.png@01D4CE8F.33CF8430] University Advancement 940-898-3894 CHornbeck1@twu.edu<mailto:CHornbeck1@twu.edu> [https://www.blackbaud.com/files/training/jobaids/CSOD/Badges/certification_b/PRO_Orange.png] From: Advancement Services Discussion List [mailto:FUNDSVCS@LISTSERV.FUNDSVCS.ORG] On Behalf Of Robert Saunders Sent: Wednesday, February 27, 2019 11:11 AM To: FUNDSVCS@LISTSERV.FUNDSVCS.ORG Subject: Re: [FUNDSVCS] VSE Reporting Questions: -What if the market value was, let's say, $52,000, $2,000 of which is earnings and the agreed amount to move to the other fund was $10,000? -What if multiple donors gave to the endowment? Rob -- sent from cell phone -- Rob Saunders Assistant Vice Chancellor, Advancement Operations University of North Carolina Greensboro 821 S. Josephine Boyd St. PO Box 26170 Greensboro, NC 27402 Phone: 336-334-5920 rssaund3@uncg.edu<mailto:rssaund3@uncg.edu>  On Wed, Feb 27, 2019, 11:51 AM John Taylor <johntaylorconsulting@gmail.com<mailto:johntaylorconsulting@gmail.com>> wrote: Agree absolutely on the retention of the original process date as Aaron mentions! John H. Taylor Principal, John H. Taylor Consulting 2604 Sevier St. Durham, NC 27705 johntaylorconsulting@gmail.com<mailto:johntaylorconsulting@gmail.com> 919.816.5903 (cell/text) Serving the Advancement Community Since 1987 On Wed, Feb 27, 2019 at 11:45 AM Forrest, Aaron <aaron.forrest@rochester.edu<mailto:aaron.forrest@rochester.edu>> wrote: [cid:image003.gif@01D4CE8F.33CF8430] When a donor changes a designation on a gift from the past, the gift retains its original gift date and doesn’t impact current year activity or the VSE. However, you should be updating the activity in your gift system to reflect the updated designation. My thoughts. Aaron Aaron Forrest CPA Senior Director Gift and Donor Services University of Rochester Office of Advancement Larry and Cindy Bloch Alumni and Advancement Center 300 East River Road Rochester NY 14627 Office 585.275.2799 / Fax 585-273-4558 Email aaron.forrest@rochester.edu<mailto:aaron.forrest@rochester.edu> [Description: Description: Description: cid:image001.gif@01C92E92.3629C5E0] <http://www.rochester.edu/> P Please consider the environment before printing this email. Confidentiality Notice: This message, including attachments may contain confidential information. Any unauthorized use, disclosure or distribution is prohibited. From: Advancement Services Discussion List <FUNDSVCS@LISTSERV.FUNDSVCS.ORG<mailto:FUNDSVCS@LISTSERV.FUNDSVCS.ORG>> On Behalf Of Hornbeck, Cynthia Sent: Wednesday, February 27, 2019 11:42 AM To: FUNDSVCS@LISTSERV.FUNDSVCS.ORG<mailto:FUNDSVCS@LISTSERV.FUNDSVCS.ORG> Subject: [FUNDSVCS] VSE Reporting I have a quick question about how moving money between endowments and distributions effects VSE reporting. We have an endowment that has been set up and gifts have been processed to go into that endowment. It has come to my attention that the Financial side of the house has been instructed to move some of the money out of the endowment into the distribution. All parties involved (including the donor) have approved this movement of the money. We use two systems for our gift processing and bookkeeping, RE and FE, so the money is moved in FE from the endowment into the distribution without any changes being done in RE. The question I have is since this money is no longer in the endowment on the Finical side of the house should that be moved in RE so when the VSE reports are pulled it reflects what had actually taken place. I understand how moving money between separate funds would need to be reflected on both sides of the house (RE and FE) I was just sure about funds between an endowment and distribution. This next reporting cycle will be the first time for us (since I have been here) to report our data to the VSE and I am just trying to make sure I understand how all this works and we have procedures in place so our numbers will be correct. Thank you, Cynthia Hornbeck [cid:image001.png@01D4CE8F.33CF8430] University Advancement 940-898-3894 CHornbeck1@twu.edu<mailto:CHornbeck1@twu.edu> [https://www.blackbaud.com/files/training/jobaids/CSOD/Badges/certification_b/PRO_Orange.png]

Agree. And on the portion question, if only a portion ($10K of a $50K endowment) were moved, we would move $10K of the original principal and split the gift in the gift system. It doesn’t matter if it’s now worth $52K in the pool. The donor doesn’t have the power to designate investment growth – theoretically – only the contributed value is the gift. My thoughts. Aaron Aaron Forrest CPA Senior Director Gift and Donor Services University of Rochester Office of Advancement Larry and Cindy Bloch Alumni and Advancement Center 300 East River Road Rochester NY 14627 Office 585.275.2799 / Fax 585-273-4558 Email aaron.forrest@rochester.edu [Description: Description: Description: cid:image001.gif@01C92E92.3629C5E0] <http://www.rochester.edu/> P Please consider the environment before printing this email. Confidentiality Notice: This message, including attachments may contain confidential information. Any unauthorized use, disclosure or distribution is prohibited. From: Advancement Services Discussion List <FUNDSVCS@LISTSERV.FUNDSVCS.ORG> On Behalf Of John Taylor Sent: Wednesday, February 27, 2019 12:49 PM To: FUNDSVCS@LISTSERV.FUNDSVCS.ORG Subject: Re: [FUNDSVCS] VSE Reporting Absolutely you would need all donors approval to repurpose any of their gifts. John Taylor 919.816.5903 johntaylorconsulting@gmail.com<mailto:johntaylorconsulting@gmail.com> Big ideas; small keyboard On Feb 27, 2019, at 12:29 PM, Hornbeck, Cynthia <CHornbeck1@twu.edu<mailto:CHornbeck1@twu.edu>> wrote: I am thinking that if there is more than one donor you would need to contact each donor and make sure they are ok with the movement of their gift. I am not sure how that would work with the earnings. I got lucky on the fund this happened with 1) It is a new endowment so no funds have been invested yet 2) We just had one donor who has given so only one person had to be contacted Thank you, Cynthia Hornbeck <image001.png> University Advancement 940-898-3894 CHornbeck1@twu.edu<mailto:CHornbeck1@twu.edu> <image002.png> From: Advancement Services Discussion List [mailto:FUNDSVCS@LISTSERV.FUNDSVCS.ORG] On Behalf Of Robert Saunders Sent: Wednesday, February 27, 2019 11:11 AM To: FUNDSVCS@LISTSERV.FUNDSVCS.ORG<mailto:FUNDSVCS@LISTSERV.FUNDSVCS.ORG> Subject: Re: [FUNDSVCS] VSE Reporting Questions: -What if the market value was, let's say, $52,000, $2,000 of which is earnings and the agreed amount to move to the other fund was $10,000? -What if multiple donors gave to the endowment? Rob -- sent from cell phone -- Rob Saunders Assistant Vice Chancellor, Advancement Operations University of North Carolina Greensboro 821 S. Josephine Boyd St. PO Box 26170 Greensboro, NC 27402 Phone: 336-334-5920 rssaund3@uncg.edu<mailto:rssaund3@uncg.edu>  On Wed, Feb 27, 2019, 11:51 AM John Taylor <johntaylorconsulting@gmail.com<mailto:johntaylorconsulting@gmail.com>> wrote: Agree absolutely on the retention of the original process date as Aaron mentions! John H. Taylor Principal, John H. Taylor Consulting 2604 Sevier St. Durham, NC 27705 johntaylorconsulting@gmail.com<mailto:johntaylorconsulting@gmail.com> 919.816.5903 (cell/text) Serving the Advancement Community Since 1987 On Wed, Feb 27, 2019 at 11:45 AM Forrest, Aaron <aaron.forrest@rochester.edu<mailto:aaron.forrest@rochester.edu>> wrote: <image003.gif> When a donor changes a designation on a gift from the past, the gift retains its original gift date and doesn’t impact current year activity or the VSE. However, you should be updating the activity in your gift system to reflect the updated designation. My thoughts. Aaron Aaron Forrest CPA Senior Director Gift and Donor Services University of Rochester Office of Advancement Larry and Cindy Bloch Alumni and Advancement Center 300 East River Road Rochester NY 14627 Office 585.275.2799 / Fax 585-273-4558 Email aaron.forrest@rochester.edu<mailto:aaron.forrest@rochester.edu> <image004.jpg><http://www.rochester.edu/> P Please consider the environment before printing this email. Confidentiality Notice: This message, including attachments may contain confidential information. Any unauthorized use, disclosure or distribution is prohibited. From: Advancement Services Discussion List <FUNDSVCS@LISTSERV.FUNDSVCS.ORG<mailto:FUNDSVCS@LISTSERV.FUNDSVCS.ORG>> On Behalf Of Hornbeck, Cynthia Sent: Wednesday, February 27, 2019 11:42 AM To: FUNDSVCS@LISTSERV.FUNDSVCS.ORG<mailto:FUNDSVCS@LISTSERV.FUNDSVCS.ORG> Subject: [FUNDSVCS] VSE Reporting I have a quick question about how moving money between endowments and distributions effects VSE reporting. We have an endowment that has been set up and gifts have been processed to go into that endowment. It has come to my attention that the Financial side of the house has been instructed to move some of the money out of the endowment into the distribution. All parties involved (including the donor) have approved this movement of the money. We use two systems for our gift processing and bookkeeping, RE and FE, so the money is moved in FE from the endowment into the distribution without any changes being done in RE. The question I have is since this money is no longer in the endowment on the Finical side of the house should that be moved in RE so when the VSE reports are pulled it reflects what had actually taken place. I understand how moving money between separate funds would need to be reflected on both sides of the house (RE and FE) I was just sure about funds between an endowment and distribution. This next reporting cycle will be the first time for us (since I have been here) to report our data to the VSE and I am just trying to make sure I understand how all this works and we have procedures in place so our numbers will be correct. Thank you, Cynthia Hornbeck <image001.png> University Advancement 940-898-3894 CHornbeck1@twu.edu<mailto:CHornbeck1@twu.edu> <image002.png>