FundSvcs Community

Record the CGA on the donor's record immediately upon establishment. It matters not that it is managed externally. Per CASE, you should record both the face value (that's what counts in campaigns) and present or IRS value (that is what is counted for VSE purposes). You do not record a single thing after you have done the above. The Business Office should record anything necessary after that on your GL. John John H. Taylor Principal John H. Taylor Consulting, LLC 2604 Sevier St. Durham, NC 27705 johntaylorconsulting@gmail.com 919.816.5903 (cell/text) Serving the Advancement Community Since 1987 On Tue, Sep 3, 2019 at 2:29 PM Nathan.Laning <Nathan.Laning@trnty.edu> wrote: > Good evening, all. > > > > We are reviewing how charitable gift annuities have been recorded in our > database over the years, and I’m running into some inconsistencies. I’d > love to hear how others have solved this issue using Raiser’s Edge, > specifically *without* the planned giving module. > > > > To make matters more interesting, all of our CGAs are managed externally > by a third party entity who handles the investing, receipting, etc. Once > the annuity reaches its maturity, we are sent the final check from this > third party. > > > > This third party provides us with detailed reports on the CGAs that will > benefit our organization, but I’m not sure when/how we should indicate the > CGAs on the donor’s record. I fear double-counting if we enter a gift > record when we learn of the CGA, as well as when we get the final check > from our third party manager. > > > > Thank you. Looking to learn, > > > > <http://www.trnty.edu/> > > *Nate Laning* > > Director of Advancement Services | Trinity Christian College > > 6601 West College Drive | Palos Heights, Illinois 60463 > > <https://www.facebook.com/trinitychristiancollege> > <https://twitter.com/trinitytroll> > <https://www.instagram.com/trinitytrolls/> > <https://www.linkedin.com/company/trinity-christian-college> > > 708.239.4822 | nathan.laning@trnty.edu > > > > >

Agreed. Although your business office may want you to differentiate internally- and externally-held CGAs in some way, and may have documentation requirements for recording an externally-held deferred gift. My US$0.02 worth; the usual disclaimers apply. Alan Sent from my mobile device; please excuse the inevitable typing/autocorrect infelicities. > On Sep 3, 2019, at 5:34 PM, John Taylor <johntaylorconsulting@gmail.com> wrote: > > Record the CGA on the donor's record immediately upon establishment. It matters not that it is managed externally. Per CASE, you should record both the face value (that's what counts in campaigns) and present or IRS value (that is what is counted for VSE purposes). > > You do not record a single thing after you have done the above. The Business Office should record anything necessary after that on your GL. > > John > > John H. Taylor > Principal > John H. Taylor Consulting, LLC > 2604 Sevier St. > Durham, NC 27705 > johntaylorconsulting@gmail.com > 919.816.5903 (cell/text) > > Serving the Advancement Community Since 1987 > > >> On Tue, Sep 3, 2019 at 2:29 PM Nathan.Laning <Nathan.Laning@trnty.edu> wrote: >> Good evening, all. >> >> >> >> We are reviewing how charitable gift annuities have been recorded in our database over the years, and I’m running into some inconsistencies. I’d love to hear how others have solved this issue using Raiser’s Edge, specifically without the planned giving module. >> >> >> >> To make matters more interesting, all of our CGAs are managed externally by a third party entity who handles the investing, receipting, etc. Once the annuity reaches its maturity, we are sent the final check from this third party. >> >> >> >> This third party provides us with detailed reports on the CGAs that will benefit our organization, but I’m not sure when/how we should indicate the CGAs on the donor’s record. I fear double-counting if we enter a gift record when we learn of the CGA, as well as when we get the final check from our third party manager. >> >> >> >> Thank you. Looking to learn, >> >> >> >> <image002.jpg> >> >> Nate Laning >> >> Director of Advancement Services | Trinity Christian College >> >> 6601 West College Drive | Palos Heights, Illinois 60463 >> >> <image004.png><image006.png><image008.png><image010.png> >> >> 708.239.4822 | nathan.laning@trnty.edu >> >> >> >>

Good evening, all. We are reviewing how charitable gift annuities have been recorded in our database over the years, and I'm running into some inconsistencies. I'd love to hear how others have solved this issue using Raiser's Edge, specifically without the planned giving module. To make matters more interesting, all of our CGAs are managed externally by a third party entity who handles the investing, receipting, etc. Once the annuity reaches its maturity, we are sent the final check from this third party. This third party provides us with detailed reports on the CGAs that will benefit our organization, but I'm not sure when/how we should indicate the CGAs on the donor's record. I fear double-counting if we enter a gift record when we learn of the CGA, as well as when we get the final check from our third party manager. Thank you. Looking to learn, [cid:image002.jpg@01D56274.C43F0350]<http://www.trnty.edu/> Nate Laning Director of Advancement Services | Trinity Christian College 6601 West College Drive | Palos Heights, Illinois 60463 [cid:image004.png@01D56274.C43F0350]<https://www.facebook.com/trinitychristiancollege>[cid:image006.png@01D56274.C43F0350]<https://twitter.com/trinitytroll>[cid:image008.png@01D56274.C43F0350]<https://www.instagram.com/trinitytrolls/>[cid:image010.png@01D56274.C43F0350]<https://www.linkedin.com/company/trinity-christian-college> 708.239.4822 | nathan.laning@trnty.edu

Thanks to you both, Alan and John. This is exactly what I needed. Nate Laning Director of Advancement Services Trinity Christian College ________________________________ From: Advancement Services Discussion List <FUNDSVCS@LISTSERV.FUNDSVCS.ORG> on behalf of Alan S. Hejnal <alan.hejnal@GMAIL.COM> Sent: Tuesday, September 3, 2019 4:48:26 PM To: FUNDSVCS@LISTSERV.FUNDSVCS.ORG <FUNDSVCS@LISTSERV.FUNDSVCS.ORG> Subject: Re: [FUNDSVCS] Charitable Gift Annuity Tracking Agreed. Although your business office may want you to differentiate internally- and externally-held CGAs in some way, and may have documentation requirements for recording an externally-held deferred gift. My US$0.02 worth; the usual disclaimers apply. Alan Sent from my mobile device; please excuse the inevitable typing/autocorrect infelicities. On Sep 3, 2019, at 5:34 PM, John Taylor <johntaylorconsulting@gmail.com<mailto:johntaylorconsulting@gmail.com>> wrote: Record the CGA on the donor's record immediately upon establishment. It matters not that it is managed externally. Per CASE, you should record both the face value (that's what counts in campaigns) and present or IRS value (that is what is counted for VSE purposes). You do not record a single thing after you have done the above. The Business Office should record anything necessary after that on your GL. John John H. Taylor Principal John H. Taylor Consulting, LLC 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 Tue, Sep 3, 2019 at 2:29 PM Nathan.Laning <Nathan.Laning@trnty.edu<mailto:Nathan.Laning@trnty.edu>> wrote: Good evening, all. We are reviewing how charitable gift annuities have been recorded in our database over the years, and I’m running into some inconsistencies. I’d love to hear how others have solved this issue using Raiser’s Edge, specifically without the planned giving module. To make matters more interesting, all of our CGAs are managed externally by a third party entity who handles the investing, receipting, etc. Once the annuity reaches its maturity, we are sent the final check from this third party. This third party provides us with detailed reports on the CGAs that will benefit our organization, but I’m not sure when/how we should indicate the CGAs on the donor’s record. I fear double-counting if we enter a gift record when we learn of the CGA, as well as when we get the final check from our third party manager. Thank you. Looking to learn, <image002.jpg><http://www.trnty.edu/> Nate Laning Director of Advancement Services | Trinity Christian College 6601 West College Drive | Palos Heights, Illinois 60463 <image004.png><https://www.facebook.com/trinitychristiancollege><image006.png><https://twitter.com/trinitytroll><image008.png><https://www.instagram.com/trinitytrolls/><image010.png><https://www.linkedin.com/company/trinity-christian-college> 708.239.4822 | nathan.laning@trnty.edu<mailto:nathan.laning@trnty.edu>

This results in an additional tax deduction for the donor and an additional gift to count. You already counted the face value but for VSE purposes you can now count the additional tax-deductible gift. Planned giving software can help calculate that amount. John Taylor 919.816.5903 johntaylorconsulting@gmail.com Big ideas; small keyboard > On Sep 5, 2019, at 7:54 AM, Nathan.Laning <Nathan.Laning@trnty.edu> wrote: > > One more question for all of you experts regarding an unusual charitable gift annuity situation: > > An annuity was set up years ago, with a face value of $100,000 and an IRS value of around $35,000. Thanks to John and Alan, I now understand how this original gift should have been recorded in our donor database. > > However – here’s the curveball – that annuity was later voluntarily surrendered by the donor prior to his passing, amounting in a higher payout of nearly $85,000. Does the voluntary nature of this larger payout to our organization warrant any additional gift or record change? Or is that solely a business office function? > > <image001.jpg> > Nate Laning > Director of Advancement Services | Trinity Christian College > 6601 West College Drive | Palos Heights, Illinois 60463 > <image002.png><image003.png><image004.png><image005.png> > 708.239.4822 | nathan.laning@trnty.edu > > > From: Advancement Services Discussion List <FUNDSVCS@LISTSERV.FUNDSVCS.ORG> On Behalf Of Alan S. Hejnal > Sent: Tuesday, September 3, 2019 4:48 PM > To: FUNDSVCS@LISTSERV.FUNDSVCS.ORG > Subject: Re: [FUNDSVCS] Charitable Gift Annuity Tracking > > Agreed. Although your business office may want you to differentiate internally- and externally-held CGAs in some way, and may have documentation requirements for recording an externally-held deferred gift. > > My US$0.02 worth; the usual disclaimers apply. > > Alan > > > Sent from my mobile device; please excuse the inevitable typing/autocorrect infelicities. > > On Sep 3, 2019, at 5:34 PM, John Taylor <johntaylorconsulting@gmail.com> wrote: > > Record the CGA on the donor's record immediately upon establishment. It matters not that it is managed externally. Per CASE, you should record both the face value (that's what counts in campaigns) and present or IRS value (that is what is counted for VSE purposes). > > You do not record a single thing after you have done the above. The Business Office should record anything necessary after that on your GL. > > John > > John H. Taylor > Principal > John H. Taylor Consulting, LLC > 2604 Sevier St. > Durham, NC 27705 > johntaylorconsulting@gmail.com > 919.816.5903 (cell/text) > > Serving the Advancement Community Since 1987 > > > On Tue, Sep 3, 2019 at 2:29 PM Nathan.Laning <Nathan.Laning@trnty.edu> wrote: > Good evening, all. > > We are reviewing how charitable gift annuities have been recorded in our database over the years, and I’m running into some inconsistencies. I’d love to hear how others have solved this issue using Raiser’s Edge, specifically without the planned giving module. > > To make matters more interesting, all of our CGAs are managed externally by a third party entity who handles the investing, receipting, etc. Once the annuity reaches its maturity, we are sent the final check from this third party. > > This third party provides us with detailed reports on the CGAs that will benefit our organization, but I’m not sure when/how we should indicate the CGAs on the donor’s record. I fear double-counting if we enter a gift record when we learn of the CGA, as well as when we get the final check from our third party manager. > > Thank you. Looking to learn, > > <image002.jpg> > Nate Laning > Director of Advancement Services | Trinity Christian College > 6601 West College Drive | Palos Heights, Illinois 60463 > <image004.png><image006.png><image008.png><image010.png> > 708.239.4822 | nathan.laning@trnty.edu > >

One more question for all of you experts regarding an unusual charitable gift annuity situation: An annuity was set up years ago, with a face value of $100,000 and an IRS value of around $35,000. Thanks to John and Alan, I now understand how this original gift should have been recorded in our donor database. However – here’s the curveball – that annuity was later voluntarily surrendered by the donor prior to his passing, amounting in a higher payout of nearly $85,000. Does the voluntary nature of this larger payout to our organization warrant any additional gift or record change? Or is that solely a business office function? [cid:image001.jpg@01D563CF.F544BB00]<http://www.trnty.edu/> Nate Laning Director of Advancement Services | Trinity Christian College 6601 West College Drive | Palos Heights, Illinois 60463 [cid:image002.png@01D563CF.F544BB00]<https://www.facebook.com/trinitychristiancollege>[cid:image003.png@01D563CF.F544BB00]<https://twitter.com/trinitytroll>[cid:image004.png@01D563CF.F544BB00]<https://www.instagram.com/trinitytrolls/>[cid:image005.png@01D563CF.F544BB00]<https://www.linkedin.com/company/trinity-christian-college> 708.239.4822 | nathan.laning@trnty.edu From: Advancement Services Discussion List <FUNDSVCS@LISTSERV.FUNDSVCS.ORG> On Behalf Of Alan S. Hejnal Sent: Tuesday, September 3, 2019 4:48 PM To: FUNDSVCS@LISTSERV.FUNDSVCS.ORG Subject: Re: [FUNDSVCS] Charitable Gift Annuity Tracking Agreed. Although your business office may want you to differentiate internally- and externally-held CGAs in some way, and may have documentation requirements for recording an externally-held deferred gift. My US$0.02 worth; the usual disclaimers apply. Alan Sent from my mobile device; please excuse the inevitable typing/autocorrect infelicities. On Sep 3, 2019, at 5:34 PM, John Taylor <johntaylorconsulting@gmail.com<mailto:johntaylorconsulting@gmail.com>> wrote: Record the CGA on the donor's record immediately upon establishment. It matters not that it is managed externally. Per CASE, you should record both the face value (that's what counts in campaigns) and present or IRS value (that is what is counted for VSE purposes). You do not record a single thing after you have done the above. The Business Office should record anything necessary after that on your GL. John John H. Taylor Principal John H. Taylor Consulting, LLC 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 Tue, Sep 3, 2019 at 2:29 PM Nathan.Laning <Nathan.Laning@trnty.edu<mailto:Nathan.Laning@trnty.edu>> wrote: Good evening, all. We are reviewing how charitable gift annuities have been recorded in our database over the years, and I’m running into some inconsistencies. I’d love to hear how others have solved this issue using Raiser’s Edge, specifically without the planned giving module. To make matters more interesting, all of our CGAs are managed externally by a third party entity who handles the investing, receipting, etc. Once the annuity reaches its maturity, we are sent the final check from this third party. This third party provides us with detailed reports on the CGAs that will benefit our organization, but I’m not sure when/how we should indicate the CGAs on the donor’s record. I fear double-counting if we enter a gift record when we learn of the CGA, as well as when we get the final check from our third party manager. Thank you. Looking to learn, <image002.jpg><http://www.trnty.edu/> Nate Laning Director of Advancement Services | Trinity Christian College 6601 West College Drive | Palos Heights, Illinois 60463 <image004.png><https://www.facebook.com/trinitychristiancollege><image006.png><https://twitter.com/trinitytroll><image008.png><https://www.instagram.com/trinitytrolls/><image010.png><https://www.linkedin.com/company/trinity-christian-college> 708.239.4822 | nathan.laning@trnty.edu<mailto:nathan.laning@trnty.edu>

That’s a new gift that you (and the business office) should record. The donor was entitled to a stream of payments from the CGA and is now surrendering to you his right to those payments. That’s a separate event/gift. Your colleagues in planned giving should be able to plug this into their software and determine the value of this new gift. 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 Nathan.Laning Sent: Thursday, September 5, 2019 10:55 AM To: FUNDSVCS@LISTSERV.FUNDSVCS.ORG Subject: Re: [FUNDSVCS] Charitable Gift Annuity Tracking One more question for all of you experts regarding an unusual charitable gift annuity situation: An annuity was set up years ago, with a face value of $100,000 and an IRS value of around $35,000. Thanks to John and Alan, I now understand how this original gift should have been recorded in our donor database. However – here’s the curveball – that annuity was later voluntarily surrendered by the donor prior to his passing, amounting in a higher payout of nearly $85,000. Does the voluntary nature of this larger payout to our organization warrant any additional gift or record change? Or is that solely a business office function? [cid:image008.jpg@01D563D9.89CD64D0]<https://nam02.safelinks.protection.outlook.com/?url=http%3A%2F%2Fwww.trnty.edu%2F&data=02%7C01%7CHejnalA%40SI.EDU%7Cb5ce7f18ef534af5650908d73211087a%7C989b5e2a14e44efe93b78cdd5fc5d11c%7C0%7C0%7C637032921060874341&sdata=GFXLELRNqmTtZZL3bTiPy8GTw8LI%2FzO63RRWfm1ECso%3D&reserved=0> Nate Laning Director of Advancement Services | Trinity Christian College 6601 West College Drive | Palos Heights, Illinois 60463 [cid:image009.png@01D563D9.89CD64D0]<https://nam02.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.facebook.com%2Ftrinitychristiancollege&data=02%7C01%7CHejnalA%40SI.EDU%7Cb5ce7f18ef534af5650908d73211087a%7C989b5e2a14e44efe93b78cdd5fc5d11c%7C0%7C0%7C637032921060884336&sdata=36JHxPqiHPiGT0BVopBjd2ITozab6izTa0vBrfyyZDY%3D&reserved=0>[cid:image010.png@01D563D9.89CD64D0]<https://nam02.safelinks.protection.outlook.com/?url=https%3A%2F%2Ftwitter.com%2Ftrinitytroll&data=02%7C01%7CHejnalA%40SI.EDU%7Cb5ce7f18ef534af5650908d73211087a%7C989b5e2a14e44efe93b78cdd5fc5d11c%7C0%7C0%7C637032921060884336&sdata=SiCZ0Netvd7RRcJTKh6U%2B%2BoHrw4EtHxnmY%2BD9s4fl8o%3D&reserved=0>[cid:image011.png@01D563D9.89CD64D0]<https://nam02.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.instagram.com%2Ftrinitytrolls%2F&data=02%7C01%7CHejnalA%40SI.EDU%7Cb5ce7f18ef534af5650908d73211087a%7C989b5e2a14e44efe93b78cdd5fc5d11c%7C0%7C0%7C637032921060884336&sdata=Xb7VlMVE2JrSFXYECuiktTmtt5ijSrb2loz4JtaD58o%3D&reserved=0>[cid:image012.png@01D563D9.89CD64D0]<https://nam02.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.linkedin.com%2Fcompany%2Ftrinity-christian-college&data=02%7C01%7CHejnalA%40SI.EDU%7Cb5ce7f18ef534af5650908d73211087a%7C989b5e2a14e44efe93b78cdd5fc5d11c%7C0%7C0%7C637032921060894330&sdata=yocY%2BaF3DfHF7mH%2FbPfOxSD8sen8CjPRTmDGOFaXDbE%3D&reserved=0> 708.239.4822 | nathan.laning@trnty.edu<mailto:nathan.laning@trnty.edu> From: Advancement Services Discussion List <FUNDSVCS@LISTSERV.FUNDSVCS.ORG<mailto:FUNDSVCS@LISTSERV.FUNDSVCS.ORG>> On Behalf Of Alan S. Hejnal Sent: Tuesday, September 3, 2019 4:48 PM To: FUNDSVCS@LISTSERV.FUNDSVCS.ORG<mailto:FUNDSVCS@LISTSERV.FUNDSVCS.ORG> Subject: Re: [FUNDSVCS] Charitable Gift Annuity Tracking Agreed. Although your business office may want you to differentiate internally- and externally-held CGAs in some way, and may have documentation requirements for recording an externally-held deferred gift. My US$0.02 worth; the usual disclaimers apply. Alan Sent from my mobile device; please excuse the inevitable typing/autocorrect infelicities. On Sep 3, 2019, at 5:34 PM, John Taylor <johntaylorconsulting@gmail.com<mailto:johntaylorconsulting@gmail.com>> wrote: Record the CGA on the donor's record immediately upon establishment. It matters not that it is managed externally. Per CASE, you should record both the face value (that's what counts in campaigns) and present or IRS value (that is what is counted for VSE purposes). You do not record a single thing after you have done the above. The Business Office should record anything necessary after that on your GL. John John H. Taylor Principal John H. Taylor Consulting, LLC 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 Tue, Sep 3, 2019 at 2:29 PM Nathan.Laning <Nathan.Laning@trnty.edu<mailto:Nathan.Laning@trnty.edu>> wrote: Good evening, all. We are reviewing how charitable gift annuities have been recorded in our database over the years, and I’m running into some inconsistencies. I’d love to hear how others have solved this issue using Raiser’s Edge, specifically without the planned giving module. To make matters more interesting, all of our CGAs are managed externally by a third party entity who handles the investing, receipting, etc. Once the annuity reaches its maturity, we are sent the final check from this third party. This third party provides us with detailed reports on the CGAs that will benefit our organization, but I’m not sure when/how we should indicate the CGAs on the donor’s record. I fear double-counting if we enter a gift record when we learn of the CGA, as well as when we get the final check from our third party manager. Thank you. Looking to learn, <image002.jpg><https://nam02.safelinks.protection.outlook.com/?url=http%3A%2F%2Fwww.trnty.edu%2F&data=02%7C01%7CHejnalA%40SI.EDU%7Cb5ce7f18ef534af5650908d73211087a%7C989b5e2a14e44efe93b78cdd5fc5d11c%7C0%7C0%7C637032921060894330&sdata=NteGh%2FgZLYVrIzUqALjBkNf3xLBKKVkNLUSXLU1hKVc%3D&reserved=0> Nate Laning Director of Advancement Services | Trinity Christian College 6601 West College Drive | Palos Heights, Illinois 60463 <image004.png><https://nam02.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.facebook.com%2Ftrinitychristiancollege&data=02%7C01%7CHejnalA%40SI.EDU%7Cb5ce7f18ef534af5650908d73211087a%7C989b5e2a14e44efe93b78cdd5fc5d11c%7C0%7C0%7C637032921060904322&sdata=5%2BjQvFHxh7yu2VUagigZQI45kiviFBWDPfkLeSGmiG4%3D&reserved=0><image006.png><https://nam02.safelinks.protection.outlook.com/?url=https%3A%2F%2Ftwitter.com%2Ftrinitytroll&data=02%7C01%7CHejnalA%40SI.EDU%7Cb5ce7f18ef534af5650908d73211087a%7C989b5e2a14e44efe93b78cdd5fc5d11c%7C0%7C0%7C637032921060904322&sdata=sUoCuSFV7A7f2fpY1cQ5iS6S2ijNDt0kb13CeLT7taQ%3D&reserved=0><image008.png><https://nam02.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.instagram.com%2Ftrinitytrolls%2F&data=02%7C01%7CHejnalA%40SI.EDU%7Cb5ce7f18ef534af5650908d73211087a%7C989b5e2a14e44efe93b78cdd5fc5d11c%7C0%7C0%7C637032921060904322&sdata=aAcL1%2BPUx8g1snEomZrxG82D3E48rxb4e3UnByJE0pM%3D&reserved=0><image010.png><https://nam02.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.linkedin.com%2Fcompany%2Ftrinity-christian-college&data=02%7C01%7CHejnalA%40SI.EDU%7Cb5ce7f18ef534af5650908d73211087a%7C989b5e2a14e44efe93b78cdd5fc5d11c%7C0%7C0%7C637032921060914307&sdata=r1LTrsR2uOgxXmyAJs8cBDtbREU%2BGkaHtfBbk%2B0A67g%3D&reserved=0> 708.239.4822 | nathan.laning@trnty.edu<mailto:nathan.laning@trnty.edu>

Thanks all!  I am glad I found this thread in the search.  The same scenario regarding surrendering payments just came to me for the first time in 18 years.


------------------------------
Melody Esposito
Technical Coordinator, Development Systems
Yale New Haven Hospital
melody.esposito@ynhh.org
------------------------------

Original Message:
Sent: 09-05-2019 03:03 PM
From: Alan Hejnal
Subject: Re: Charitable Gift Annuity Tracking

That's a new gift that you (and the business office) should record. The donor was entitled to a stream of payments from the CGA and is now surrendering to you his right to those payments. That's a separate event/gift.



Your colleagues in planned giving should be able to plug this into their software and determine the value of this new gift.



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

Thank you, experts! Extremely helpful! [cid:image006.jpg@01D563D1.841BD970]<http://www.trnty.edu/> Nate Laning Director of Advancement Services | Trinity Christian College 6601 West College Drive | Palos Heights, Illinois 60463 [cid:image007.png@01D563D1.841BD970]<https://www.facebook.com/trinitychristiancollege>[cid:image008.png@01D563D1.841BD970]<https://twitter.com/trinitytroll>[cid:image009.png@01D563D1.841BD970]<https://www.instagram.com/trinitytrolls/>[cid:image010.png@01D563D1.841BD970]<https://www.linkedin.com/company/trinity-christian-college> 708.239.4822 | nathan.laning@trnty.edu From: Advancement Services Discussion List <FUNDSVCS@LISTSERV.FUNDSVCS.ORG> On Behalf Of John Taylor Sent: Thursday, September 5, 2019 10:03 AM To: FUNDSVCS@LISTSERV.FUNDSVCS.ORG Subject: Re: [FUNDSVCS] Charitable Gift Annuity Tracking This results in an additional tax deduction for the donor and an additional gift to count. You already counted the face value but for VSE purposes you can now count the additional tax-deductible gift. Planned giving software can help calculate that amount. John Taylor 919.816.5903 johntaylorconsulting@gmail.com<mailto:johntaylorconsulting@gmail.com> Big ideas; small keyboard On Sep 5, 2019, at 7:54 AM, Nathan.Laning <Nathan.Laning@trnty.edu<mailto:Nathan.Laning@trnty.edu>> wrote: One more question for all of you experts regarding an unusual charitable gift annuity situation: An annuity was set up years ago, with a face value of $100,000 and an IRS value of around $35,000. Thanks to John and Alan, I now understand how this original gift should have been recorded in our donor database. However – here’s the curveball – that annuity was later voluntarily surrendered by the donor prior to his passing, amounting in a higher payout of nearly $85,000. Does the voluntary nature of this larger payout to our organization warrant any additional gift or record change? Or is that solely a business office function? <image001.jpg><http://www.trnty.edu/> Nate Laning Director of Advancement Services | Trinity Christian College 6601 West College Drive | Palos Heights, Illinois 60463 <image002.png><https://www.facebook.com/trinitychristiancollege><image003.png><https://twitter.com/trinitytroll><image004.png><https://www.instagram.com/trinitytrolls/><image005.png><https://www.linkedin.com/company/trinity-christian-college> 708.239.4822 | nathan.laning@trnty.edu<mailto:nathan.laning@trnty.edu> From: Advancement Services Discussion List <FUNDSVCS@LISTSERV.FUNDSVCS.ORG<mailto:FUNDSVCS@LISTSERV.FUNDSVCS.ORG>> On Behalf Of Alan S. Hejnal Sent: Tuesday, September 3, 2019 4:48 PM To: FUNDSVCS@LISTSERV.FUNDSVCS.ORG<mailto:FUNDSVCS@LISTSERV.FUNDSVCS.ORG> Subject: Re: [FUNDSVCS] Charitable Gift Annuity Tracking Agreed. Although your business office may want you to differentiate internally- and externally-held CGAs in some way, and may have documentation requirements for recording an externally-held deferred gift. My US$0.02 worth; the usual disclaimers apply. Alan Sent from my mobile device; please excuse the inevitable typing/autocorrect infelicities. On Sep 3, 2019, at 5:34 PM, John Taylor <johntaylorconsulting@gmail.com<mailto:johntaylorconsulting@gmail.com>> wrote: Record the CGA on the donor's record immediately upon establishment. It matters not that it is managed externally. Per CASE, you should record both the face value (that's what counts in campaigns) and present or IRS value (that is what is counted for VSE purposes). You do not record a single thing after you have done the above. The Business Office should record anything necessary after that on your GL. John John H. Taylor Principal John H. Taylor Consulting, LLC 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 Tue, Sep 3, 2019 at 2:29 PM Nathan.Laning <Nathan.Laning@trnty.edu<mailto:Nathan.Laning@trnty.edu>> wrote: Good evening, all. We are reviewing how charitable gift annuities have been recorded in our database over the years, and I’m running into some inconsistencies. I’d love to hear how others have solved this issue using Raiser’s Edge, specifically without the planned giving module. To make matters more interesting, all of our CGAs are managed externally by a third party entity who handles the investing, receipting, etc. Once the annuity reaches its maturity, we are sent the final check from this third party. This third party provides us with detailed reports on the CGAs that will benefit our organization, but I’m not sure when/how we should indicate the CGAs on the donor’s record. I fear double-counting if we enter a gift record when we learn of the CGA, as well as when we get the final check from our third party manager. Thank you. Looking to learn, <image002.jpg><http://www.trnty.edu/> Nate Laning Director of Advancement Services | Trinity Christian College 6601 West College Drive | Palos Heights, Illinois 60463 <image004.png><https://www.facebook.com/trinitychristiancollege><image006.png><https://twitter.com/trinitytroll><image008.png><https://www.instagram.com/trinitytrolls/><image010.png><https://www.linkedin.com/company/trinity-christian-college> 708.239.4822 | nathan.laning@trnty.edu<mailto:nathan.laning@trnty.edu>