FundSvcs Community

Thank you, John. On Wed, Mar 20, 2019 at 10:28 AM John Taylor <johntaylorconsulting@gmail.com> wrote: > Here is my reply to a very similar question posted on the APRA listserv > earlier this morning: > > I think it depends on the nature of corporate change. Here's how I advise > clients: > > - If a true merger, create a new record for the new company and link > the now-defunct companies to that new record. Inactivate the previous 2 > records and add a note on the company header (whatever is most prominently > seen in your CRM) mentioning the merger, the date of the merger, and the > record ID of the new company. > - If a take-over or acquisition, inactivate the record of the > organization that was acquired making a note along the above lines. For > the remaining record make the old name (if changing) former and add the new > primary name - also adding a comment on the header record. > > John H. Taylor > Principal, John H. Taylor Consulting > 2604 Sevier St. > <https://maps.google.com/?q=2604+Sevier+St.+Durham,+NC%C2%A0%C2%A0+27705&entry=gmail&source=g> > Durham, NC 27705 > <https://maps.google.com/?q=2604+Sevier+St.+Durham,+NC%C2%A0%C2%A0+27705&entry=gmail&source=g> > johntaylorconsulting@gmail.com > 919.816.5903 (cell/text) > > Serving the Advancement Community Since 1987 > > > On Wed, Mar 20, 2019 at 11:24 AM Rene Mayginnes <rmayginnes63@gmail.com> > wrote: > >> Good morning, >> >> We have two separate constituent records for two local banks. The banks >> recently merged and took the name of one of the banks. We are currently in >> a discussion on how best to handle the existing records. What is a >> recommended best practice for updating the existing records? >> > -- René

Good morning, We have two separate constituent records for two local banks. The banks recently merged and took the name of one of the banks. We are currently in a discussion on how best to handle the existing records. What is a recommended best practice for updating the existing records?

Here is my reply to a very similar question posted on the APRA listserv earlier this morning: I think it depends on the nature of corporate change. Here's how I advise clients: - If a true merger, create a new record for the new company and link the now-defunct companies to that new record. Inactivate the previous 2 records and add a note on the company header (whatever is most prominently seen in your CRM) mentioning the merger, the date of the merger, and the record ID of the new company. - If a take-over or acquisition, inactivate the record of the organization that was acquired making a note along the above lines. For the remaining record make the old name (if changing) former and add the new primary name - also adding a comment on the header record. 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, Mar 20, 2019 at 11:24 AM Rene Mayginnes <rmayginnes63@gmail.com> wrote: > Good morning, > > We have two separate constituent records for two local banks. The banks > recently merged and took the name of one of the banks. We are currently in > a discussion on how best to handle the existing records. What is a > recommended best practice for updating the existing records? >

Thank you. On Wed, Mar 20, 2019 at 3:10 PM Hejnal, Alan < 00000031f8bb5829-dmarc-request@listserv.fundsvcs.org> wrote: > That’s essentially what we do as well. We have an organization > relationship code of “Merged/Acquired”. > > > > My US$0.02 worth; the usual disclaimers apply. > > > > Good luck! > > > > *Alan* > > > > *Alan S. Hejnal * > > Data Quality Manager > > Smithsonian Institution - Office of Advancement > > 600 Maryland Avenue SW, Suite 600E > <https://maps.google.com/?q=600+Maryland+Avenue+SW,+Suite+600E&entry=gmail&source=g> > > P.O. Box 37012, MRC 527 > > Washington, DC 20013-7012 > > (: 202-633-8754 | *: HejnalA@si.edu > > > [image: SNAGHTML5cbfa34] <https://www.si.edu/> > [image: AASP_FundSvcs_LOGO-01(040pct)(mark)] > > > > > > *From:* Advancement Services Discussion List < > FUNDSVCS@LISTSERV.FUNDSVCS.ORG> *On Behalf Of *John Taylor > *Sent:* Wednesday, March 20, 2019 11:29 AM > *To:* FUNDSVCS@LISTSERV.FUNDSVCS.ORG > *Subject:* Re: [FUNDSVCS] Constituent Record question > > > > Here is my reply to a very similar question posted on the APRA listserv > earlier this morning: > > > > I think it depends on the nature of corporate change. Here's how I advise > clients: > > · If a true merger, create a new record for the new company and link the > now-defunct companies to that new record. Inactivate the previous 2 > records and add a note on the company header (whatever is most prominently > seen in your CRM) mentioning the merger, the date of the merger, and the > record ID of the new company. > > · If a take-over or acquisition, inactivate the record of the > organization that was acquired making a note along the above lines. For > the remaining record make the old name (if changing) former and add the new > primary name - also adding a comment on the header record. > > <https://maps.google.com/?q=2604+Sevier+St.+%0D%0A+%0D%0A+%0D%0A+Durham,+NC+27705&entry=gmail&source=g> > > John H. Taylor > > <https://maps.google.com/?q=2604+Sevier+St.+%0D%0A+%0D%0A+%0D%0A+Durham,+NC+27705&entry=gmail&source=g> > > <https://maps.google.com/?q=2604+Sevier+St.+%0D%0A+%0D%0A+%0D%0A+Durham,+NC+27705&entry=gmail&source=g> > > Principal, John H. Taylor Consulting > > 2604 Sevier St. > <https://maps.google.com/?q=2604+Sevier+St.+%0D%0A+%0D%0A+%0D%0A+Durham,+NC+27705&entry=gmail&source=g> > > Durham, NC > <https://maps.google.com/?q=2604+Sevier+St.+%0D%0A+%0D%0A+%0D%0A+Durham,+NC+27705&entry=gmail&source=g> > 27705 > <https://maps.google.com/?q=2604+Sevier+St.+%0D%0A+%0D%0A+%0D%0A+Durham,+NC+27705&entry=gmail&source=g> > > johntaylorconsulting@gmail.com > > 919.816.5903 (cell/text) > > > > Serving the Advancement Community Since 1987 > > > > > > On Wed, Mar 20, 2019 at 11:24 AM Rene Mayginnes <rmayginnes63@gmail.com> > wrote: > > Good morning, > > We have two separate constituent records for two local banks. The banks > recently merged and took the name of one of the banks. We are currently in > a discussion on how best to handle the existing records. What is a > recommended best practice for updating the existing records? > > -- René

That’s essentially what we do as well. We have an organization relationship code of “Merged/Acquired”. My US$0.02 worth; the usual disclaimers apply. Good luck! Alan Alan S. Hejnal Data Quality Manager Smithsonian Institution - Office of Advancement 600 Maryland Avenue SW, Suite 600E P.O. Box 37012, MRC 527 Washington, DC 20013-7012 •: 202-633-8754 | •: HejnalA@si.edu<mailto:HejnalA@si.edu> [SNAGHTML5cbfa34]<https://www.si.edu/> [AASP_FundSvcs_LOGO-01(040pct)(mark)] From: Advancement Services Discussion List <FUNDSVCS@LISTSERV.FUNDSVCS.ORG> On Behalf Of John Taylor Sent: Wednesday, March 20, 2019 11:29 AM To: FUNDSVCS@LISTSERV.FUNDSVCS.ORG Subject: Re: [FUNDSVCS] Constituent Record question Here is my reply to a very similar question posted on the APRA listserv earlier this morning: I think it depends on the nature of corporate change. Here's how I advise clients: · If a true merger, create a new record for the new company and link the now-defunct companies to that new record. Inactivate the previous 2 records and add a note on the company header (whatever is most prominently seen in your CRM) mentioning the merger, the date of the merger, and the record ID of the new company. · If a take-over or acquisition, inactivate the record of the organization that was acquired making a note along the above lines. For the remaining record make the old name (if changing) former and add the new primary name - also adding a comment on the header record. 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, Mar 20, 2019 at 11:24 AM Rene Mayginnes <rmayginnes63@gmail.com<mailto:rmayginnes63@gmail.com>> wrote: Good morning, We have two separate constituent records for two local banks. The banks recently merged and took the name of one of the banks. We are currently in a discussion on how best to handle the existing records. What is a recommended best practice for updating the existing records?