Good evening,
I am wondering how other organizations handle distribution checks received from outside investment organizations.
For example, we receive a quarterly distribution from the Presbyterian Foundation for a fund that a donor created with that foundation who has since passed away, and we are listed as one of the beneficiaries on the account. Currently, our Finance team handles the processing of these funds stating "These are not gifts, it's distribution income". The Presbyterian Foundation does send us an annual endowment report that coincides with the checks.
In a similar example, we received a distribution check from a different foundation; the memo line said "MV Disbursement" without any additional information. Finance processes the check as an outside endowment - distribution income.
Most of our staff is relatively new in advancement and finance, and this process is how it was done previously; before any of the current staff who are now in place. I have not located any gift documentation or agreements for these funds held at these specific foundations. Before our gift officer attempts to contact these organizations for more information, I want to check with this group in regards to whether or not we could count these distributions as charitable contributions in our fundraising numbers.
Thank you in advance for your time.
Best,
Penny
Director of Advancement Services
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Penny Devins
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