Jeff, I tend to look at what we count in fundraising totals as those
transactions that represent *new* charitable contributions to us - not
necessarily what may represent a new tax-deductible gift (although the
latter does account for the majority of what we consider in fundraising
totals). Therefore, in a case such as this (and a specific not discussed
by CASE ), I would recognize the contribution at its value as of the date
NC State became the irrevocable beneficiary.
What is not clear to me is why this other charity is giving you the CGA. I
don't think charities can transfer CGAs between themselves without the
original donor changing the beneficiary designation. If, in fact, that is
what is happening then the hard credit goes to the individual. They should
*not*, however, receive a receipt as the original charity already took care
of that.
If, then, this is a transfer of an existing CGA by the original donor, I'd
record the gift at the same face and present value as the original gift.
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 Fri, Jun 14, 2019 at 11:11 AM Jeff Baynham <
jtbaynha@ncsu.edu> wrote:
> Happy Friday,
> One of our Foundations is receiving the transfer of a CGA from another
> charitable organization. The donor established the CGA in 2005 with the
> charity for $250K. On 4/30/19 the charity has signed over the CGA to our
> Foundation and the balance of the CGA, $196K.
>
> Thinking through how we will record this. Obviously, only recognition
> credit to the donor. But, should we re-evaluate the CGA based on what we
> received and give the charity hard credit for the charitable value of the
> CGA on 4/30? Or do we just record soft credit for donor and move on?
>
> Appreciate your thoughts.
>
>
> --
>
> *Jeff Baynham*
> Senior Director, Advancement Services
> NC State University
> 1210 Varsity Drive
> Campus Box 7474
> Raleigh, NC 27695-7474
> 919.513.2923 (O)
> 270.792.3373 (M)
>
jeff_baynham@ncsu.edu
>
>
>