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  • 1.  Benefits/Premiums Roles and Responsibilities

    Posted 11-07-2023 08:51 AM

    Hi All,

    I am curious to know how other organizations handle the breakdown of gifts with premium/benefits? Does your Finance team take the lead in establishing the breakdown for an event, is it someone on Advancement Services side? Is it left to your gifts and records team as gifts come in? Do you have a formalized procedure to guide development officers and units that you can share?

    Thanks for your help.

    Trish



    ------------------------------
    Trish Idarola
    University of New Mexico Foundation, Inc.
    trish.idarola@unmfund.org
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  • 2.  RE: Benefits/Premiums Roles and Responsibilities

    Posted 11-07-2023 09:01 AM
    I see this as the responsibility of the Advancement Services office. I like seeing the Director of that department as having the assigned responsibility for Compliance in their position description.

    Institutions need both a Gift Acceptance Policy and a Third-Party Fundraising policy. Both should reference this office as having the "final word," and through this office, the requirement to obtain permission to conduct any fundraising event. The application for the event or solicitation should describe any benefits that might be offered and the FMV. Advancement Services, then, can set up its QPQ tables in the CRM in anticipation of receiving those gifts.

    Advancement Services should also periodically conduct institutional training on these matters and explain what types of benefits can be provided without impacting the donor's deduction - while simultaneously explaining why DAF and Foundation donors cannot receive any tangible benefits beyond those that qualify as "tokens."

    John
    John H. Taylor
    Principal
    John H. Taylor Consulting, LLC
    2604 Sevier St.
    Durham, NC   27705
    919.816.5903 (cell/text)

    Serving the Advancement Community Since 1987




    Original Message


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