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  • 1.  DAF Beneficiary Designations

    Posted 12-14-2022 03:40 PM
    Hi Everyone,

    Is anyone recording and/or counting beneficiary designations for DAFs?  If so, how are you handling them? 

    Thanks!

    ------------------------------
    Nancy Randazzo
    Director of Gift and Fund Administration
    University of Montana Foundation
    nancy.randazzo@supportum.org
    ------------------------------


  • 2.  RE: DAF Beneficiary Designations

    Posted 12-15-2022 08:15 AM
    I'm not sure I'm understanding your question correctly, but we create a relationship between the DAF and the person who makes the recommendation for the gift and then we soft credit the constituent for that contribution. Was that what you meant?

    We're on Raiser's Edge NXT and there is a relationships tab where we create the link.


    Kimberly G. Berry

    Associate Vice President, Advancement Operations

    Office of Advancement and Alumni Relations

    Guilford College

    Office: (336) 316-2352   Cell: (518) 522-8800


    Proud member of the Association of Advancement Services Professionals www.advserv.org







    Original Message


  • 3.  RE: DAF Beneficiary Designations

    Posted 12-15-2022 09:39 AM
    Sorry!  To clarify, I am asking about the instances where a donor names your org as a beneficiary to their DAF during their lifetime.  Ostensibly, that would mean that their DAF has been asked that it deliver a certain amount (or all) of the remaining balance in their DAF to your org, AFTER the donor passes away.  The DAF is not making a commitment and they are not obligated to send the contribution.  Is anyone recording those? Can the beneficiary designation be recorded as a kind of non-binding pledge or revocable bequest in the donor's record? The contribution from the DAF would then be a third-party payment on the non-binding pledge/revocable bequest?  

    Thanks!

    ------------------------------
    Nancy Randazzo
    Director of Gift and Fund Administration
    University of Montana Foundation
    nancy.randazzo@supportum.org
    ------------------------------

    Original Message


  • 4.  RE: DAF Beneficiary Designations

    Posted 12-15-2022 09:43 AM
    First and foremost, it is not their DAF. The assets are owned by the DAF proper. The original donor may only recommend grants to that DAF.

    While a donor might reference DAF contributions in their will, these are not like IRAs that belong to the individual. Unless there is an agreement with the DAF (and you have supporting documentation from the DAF), they will honor the advice in the will, there's nothing you can record.

    My advice is to reflect as a bequest expectancy only those legal assets under the dominion of the individual. Anticipated DAF payments can be noted, but not as part of that personal commitment.

    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


  • 5.  RE: DAF Beneficiary Designations

    Posted 12-16-2022 09:03 AM
    If you have the DAF successorship paperwork showing your organization as a designated beneficiary for an end-of-life distribution, I would view that as recordable, similar to a bequest. But I would not view the same statement, in a will, as recordable, for the reasons John outlined.

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

    Schedule a 30-minute consultation now:





    Original Message


  • 6.  RE: DAF Beneficiary Designations

    Posted 12-16-2022 09:34 AM
    Thank you Isaac and John!  Our question did have to do with the instance where we receive the DAF succession paperwork.

    ------------------------------
    Nancy Randazzo
    Director of Gift and Fund Administration
    University of Montana Foundation
    nancy.randazzo@supportum.org
    ------------------------------

    Original Message


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