Jamie,
We’ve recently updated our counting and reporting to align to the recommendations from the National Association of Charitable Gift Planners as put forth about a decade ago:
https://charitablegiftplanners.org/standards/guidelines-reporting-and-counting-charitable-gifts. We’ve found that our revocable gifts have fulfilled at a rate of nearly 120% of the original value and feel much better about aligning our counting and donor recognition practices. In years past, we used face value for donors age 72.5 and NPV for donors younger than that.
Marijana
Marijana Radić Boone ’01, MPA ’03
Executive Director, Advancement Services
College of Charleston
66 George Street
Charleston, S.C. 29424
843.953.5647 (o)
843.640.9135 (c)
From: Advancement Services Discussion List <
FUNDSVCS@LISTSERV.FUNDSVCS.ORG> On Behalf Of John Taylor
Sent: Wednesday, April 17, 2019 10:12 AM
To:
FUNDSVCS@LISTSERV.FUNDSVCS.ORG
Subject: Re: [FUNDSVCS] Reporting bequests
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Jamie, you would do well to obtain a copy of the CASE Guidelines. While those focus on educational institutions they address all gift counting questions like these.
There are so many variables to consider here that I will only touch on the key ones.
If a donor notifieis you of their plans to include you in their will and you have a document from the donor (a copy of the will or similar) that mentions you and an amount, that is recorded as a revocable pledge. Meaning you can count it in fundraising totals but not as an asset on your GL.
When a donor dies and you receive a bequest, that is treated as a payment on that pledge. Or, if no pledge, as an outright realized bequest.
In higher education caution is suggested regarding overcounting/relying on revocable gifts. CASE suggests not counting them at all below a certain age; at present value between that age and an older age; at face value above that older age. Institutions tend to set their own age limits but most common are below 50, $0; 50-69, PV; 70+, face.
John
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, Apr 17, 2019 at 7:01 AM Thompson, Jamie <
jthompson13@iuhealth.org<mailto:
jthompson13@iuhealth.org>> wrote:
Good morning,
Would anyone be willing to share their gift counting and reporting guidelines for bequests? Specially, how you report realized vs unrealized bequests, and revocable and irrevocable gifts with regards to total dollars raised?
Thank you,
Jamie Thompson
Database Manager
IU Health Foundation
1633 N. Capitol Ave., Suite 1200
Indianapolis, IN 46202
Office: 317.962.9301
jthompson13@iuhealth.org<mailto:
jthompson13@iuhealth.org>
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