FundSvcs Community

There is likely a new gift here but not necessarily equal to the cash you receive. Your PGO needs to calculate what the new deductible amount is using their PG software to verify the receiptable amount. John Taylor 919.816.5903 johntaylorconsulting@gmail.com Big ideas; small keyboard > On Apr 5, 2019, at 4:08 PM, Robyn Smith <rsmith@randolphcollege.edu> wrote: > > Happy Friday Afternoon! > A donor of a pooled income fund has surrendered/terminated her fund and has turned the remaining value over to my organization. The amount we received was a couple thousand dollars more than the value recorded back when the PIF was established. We are booking the excess as a gift. My question is – do we send the donor a receipt for the amount we’re considering a gift? > Thanks, > Robyn > > > Robyn Smith ’87 > Director of Advancement Services and Prospect Management > Office of Institutional Advancement > Office: (434) 485-8048 > Fax: (434) 947-8157 > > <image001.jpg> >

Happy Friday Afternoon! A donor of a pooled income fund has surrendered/terminated her fund and has turned the remaining value over to my organization. The amount we received was a couple thousand dollars more than the value recorded back when the PIF was established. We are booking the excess as a gift. My question is - do we send the donor a receipt for the amount we're considering a gift? Thanks, Robyn Robyn Smith '87 Director of Advancement Services and Prospect Management Office of Institutional Advancement Office: (434) 485-8048 Fax: (434) 947-8157 [Email_6]

Thanks so much, John! Very helpful. From: Advancement Services Discussion List <FUNDSVCS@LISTSERV.FUNDSVCS.ORG> On Behalf Of John Taylor Sent: Friday, April 5, 2019 4:24 PM To: FUNDSVCS@LISTSERV.FUNDSVCS.ORG Subject: Re: [FUNDSVCS] Terminated PIF - to receipt or not to receipt There is likely a new gift here but not necessarily equal to the cash you receive. Your PGO needs to calculate what the new deductible amount is using their PG software to verify the receiptable amount. John Taylor 919.816.5903 johntaylorconsulting@gmail.com<mailto:johntaylorconsulting@gmail.com> Big ideas; small keyboard On Apr 5, 2019, at 4:08 PM, Robyn Smith <rsmith@randolphcollege.edu<mailto:rsmith@randolphcollege.edu>> wrote: Happy Friday Afternoon! A donor of a pooled income fund has surrendered/terminated her fund and has turned the remaining value over to my organization. The amount we received was a couple thousand dollars more than the value recorded back when the PIF was established. We are booking the excess as a gift. My question is – do we send the donor a receipt for the amount we’re considering a gift? Thanks, Robyn Robyn Smith ’87 Director of Advancement Services and Prospect Management Office of Institutional Advancement Office: (434) 485-8048 Fax: (434) 947-8157 <image001.jpg>