FundSvcs Community

We receive a gift from Franklin Templeton Investments with a note simply saying, "Gifted by Jane Doe". It is not a DAF. I do not know if it is a retirement account. I called Franklin Templeton Investments they said they cannot tell me if it is a retirement account, only the donor could tell me that, but they are not issuing tax receipts to fund holders unless it is a retirement account and the fund holder sends in a request for such. So it is the donor's own money they are giving to our organization via Franklin Templeton. In an instance like this, should we be hard crediting Franklin Templeton Investments and soft crediting the donor or simply hard crediting the donor?  Thank you for any guidance, we are going round and round about this and similar gifts as we try to firm up our soft crediting practices.

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Laura Young
Finance and Fundraising Assistant
The Lift Garage
laura@theliftgarage.org
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Original Message:
Sent: 10/18/2022 4:58:00 PM
From: Laura Young
Subject: Another hard credit / soft credit question

We receive a gift from Franklin Templeton Investments with a note simply saying, "Gifted by Jane Doe". It is not a DAF. I do not know if it is a retirement account. I called Franklin Templeton Investments they said they cannot tell me if it is a retirement account, only the donor could tell me that, but they are not issuing tax receipts to fund holders unless it is a retirement account and the fund holder sends in a request for such. So it is the donor's own money they are giving to our organization via Franklin Templeton. In an instance like this, should we be hard crediting Franklin Templeton Investments and soft crediting the donor or simply hard crediting the donor?  Thank you for any guidance, we are going round and round about this and similar gifts as we try to firm up our soft crediting practices.

------------------------------
Laura Young
Finance and Fundraising Assistant
The Lift Garage
laura@theliftgarage.org
------------------------------

Thank you Isaac.

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Laura Young
Finance and Fundraising Assistant
The Lift Garage
laura@theliftgarage.org
------------------------------

Original Message:
Sent: 10-18-2022 04:10 PM
From: Isaac Shalev
Subject: Another hard credit / soft credit question

If it is the donor's money and nobody else owns it before it reaches you, the donor gets the hard credit. Whether you soft credit FT or not is an internal issue, and a database issue to some extent. Generally speaking though, most organizations apply a soft credit for the purposes of recognizing a donor's agency in steering, recommending, or raising a contribution that they cannot be hard-credited for. This type of transaction, where FT is merely an agent, an instrument operating on behalf of the donor, would no' typically get a soft credit.

Thank you,
Isaac Shalev
Data Strategy Expert
Sage70, Inc.
(917) 859-0151
isaac@sage70.com

Schedule a 30-minute consultation now:

https://calendly.com/sage70/30min

Original Message:
Sent: 10/18/2022 4:58:00 PM
From: Laura Young
Subject: Another hard credit / soft credit question

We receive a gift from Franklin Templeton Investments with a note simply saying, "Gifted by Jane Doe". It is not a DAF. I do not know if it is a retirement account. I called Franklin Templeton Investments they said they cannot tell me if it is a retirement account, only the donor could tell me that, but they are not issuing tax receipts to fund holders unless it is a retirement account and the fund holder sends in a request for such. So it is the donor's own money they are giving to our organization via Franklin Templeton. In an instance like this, should we be hard crediting Franklin Templeton Investments and soft crediting the donor or simply hard crediting the donor?  Thank you for any guidance, we are going round and round about this and similar gifts as we try to firm up our soft crediting practices.

------------------------------
Laura Young
Finance and Fundraising Assistant
The Lift Garage
laura@theliftgarage.org
------------------------------

Thank you.

------------------------------
Laura Young
Finance and Fundraising Assistant
The Lift Garage
laura@theliftgarage.org
------------------------------

Original Message:
Sent: 10-18-2022 04:10 PM
From: Isaac Shalev
Subject: Another hard credit / soft credit question

If it is the donor's money and nobody else owns it before it reaches you, the donor gets the hard credit. Whether you soft credit FT or not is an internal issue, and a database issue to some extent. Generally speaking though, most organizations apply a soft credit for the purposes of recognizing a donor's agency in steering, recommending, or raising a contribution that they cannot be hard-credited for. This type of transaction, where FT is merely an agent, an instrument operating on behalf of the donor, would no' typically get a soft credit.

Thank you,
Isaac Shalev
Data Strategy Expert
Sage70, Inc.
(917) 859-0151
isaac@sage70.com

Schedule a 30-minute consultation now:

https://calendly.com/sage70/30min

Original Message:
Sent: 10/18/2022 4:58:00 PM
From: Laura Young
Subject: Another hard credit / soft credit question

We receive a gift from Franklin Templeton Investments with a note simply saying, "Gifted by Jane Doe". It is not a DAF. I do not know if it is a retirement account. I called Franklin Templeton Investments they said they cannot tell me if it is a retirement account, only the donor could tell me that, but they are not issuing tax receipts to fund holders unless it is a retirement account and the fund holder sends in a request for such. So it is the donor's own money they are giving to our organization via Franklin Templeton. In an instance like this, should we be hard crediting Franklin Templeton Investments and soft crediting the donor or simply hard crediting the donor?  Thank you for any guidance, we are going round and round about this and similar gifts as we try to firm up our soft crediting practices.

------------------------------
Laura Young
Finance and Fundraising Assistant
The Lift Garage
laura@theliftgarage.org
------------------------------

Original Message:
Sent: 10/18/2022 4:58:00 PM
From: Laura Young
Subject: Another hard credit / soft credit question

We receive a gift from Franklin Templeton Investments with a note simply saying, "Gifted by Jane Doe". It is not a DAF. I do not know if it is a retirement account. I called Franklin Templeton Investments they said they cannot tell me if it is a retirement account, only the donor could tell me that, but they are not issuing tax receipts to fund holders unless it is a retirement account and the fund holder sends in a request for such. So it is the donor's own money they are giving to our organization via Franklin Templeton. In an instance like this, should we be hard crediting Franklin Templeton Investments and soft crediting the donor or simply hard crediting the donor?  Thank you for any guidance, we are going round and round about this and similar gifts as we try to firm up our soft crediting practices.

------------------------------
Laura Young
Finance and Fundraising Assistant
The Lift Garage
laura@theliftgarage.org
------------------------------

Thank you John.

------------------------------
Laura Young
Finance and Fundraising Assistant
The Lift Garage
laura@theliftgarage.org
------------------------------

Original Message:
Sent: 10-18-2022 04:26 PM
From: John Taylor
Subject: Another hard credit / soft credit question

This sounds exactly like a donor directed fund.  It is an investment account owned by the donor who directed them to issue a check to you.

In this case, record the gift on the individual's record.  But if you are not convinced this is the case, call the donor!

John

John H. Taylor 

919.816.5903 (Cell/Text)

Big Ideas; Small Keyboard

Original Message:
Sent: 10/18/2022 4:58:00 PM
From: Laura Young
Subject: Another hard credit / soft credit question

We receive a gift from Franklin Templeton Investments with a note simply saying, "Gifted by Jane Doe". It is not a DAF. I do not know if it is a retirement account. I called Franklin Templeton Investments they said they cannot tell me if it is a retirement account, only the donor could tell me that, but they are not issuing tax receipts to fund holders unless it is a retirement account and the fund holder sends in a request for such. So it is the donor's own money they are giving to our organization via Franklin Templeton. In an instance like this, should we be hard crediting Franklin Templeton Investments and soft crediting the donor or simply hard crediting the donor?  Thank you for any guidance, we are going round and round about this and similar gifts as we try to firm up our soft crediting practices.

------------------------------
Laura Young
Finance and Fundraising Assistant
The Lift Garage
laura@theliftgarage.org
------------------------------