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  • 1.  CGA receipt/acknowledgement

    Posted 03-29-2024 12:31 PM

    We had a donor setup a CGA in December and is looking for an acknowledgement, I'm guessing for tax purposes maybe (?). Do we provide that or would that come from State Street, who we work with? We don't have a template for an acknowledgement, if anyone has one they would be willing to sure I would appreciate it!

     

    Thank you,

    Amanda

     

     

    Amanda L. Haney

    Director of Gift & Data Management

    Gift & Data Management

     

     

    University Advancement I Elliott Alumni Center I 9 Edgewood Rd I Durham, NH 03824

    Office: 603-862-2041 I amanda.haney@unh.edu

     

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  • 2.  RE: CGA receipt/acknowledgement

    Posted 03-29-2024 12:53 PM
    You need to contact State Street.

    It is customary for the financial institution you use to provide the donor with jobs of paperwork related to planned gifts. That nearly always includes a tax receipt. These are complex gift arrangements the involve contracts, checks being issued, 1099s, and more. Your donor must have gotten all of those necessary materials - and probably stuck in there is a tax receipt.

    But you can't assume anything. Call State Stree and ask if they handle this. If not, they must provide you with a statement outlining the dates of asset transfer, the total value of the CGA, the payout terms, and the deductible amount (which will be far less than the amount paid).

    John

    John H. Taylor, Principal
    John H. Taylor Consulting, LLC
    2604 Sevier Street
    Durham, NC     27705

    919.816.5903 (cell/text)

    Serving the Advancement Community Since 1987




    Original Message


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