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  • 1.  Donor Advised Funds

    Posted 09-20-2022 04:24 PM
    Hello Friends!

    I hope everyone is having fun in NOLA! I am trying to wrap my head around how we will accommodate the VSE's new requirement to break out donor advised fund giving. We have no way to do this in our existing VSE reports. DAFs are not coded uniquely in our gift system. I pulled a list of all non-person donors where the entity id did not match the soft id for FY2022 to see if that would give me a good list. I got 537 hits. Ugh! Not good. I was wondering if one of you smarter-than-me folks who have donor advised funds coded as such in your system could run a list of org names and share it with me? Just the names. Maybe I could ping your list against my list to see if I could eyeball and create a rough DAFs list? I'm still not sure how I will fold that info into my VSE reports. Perhaps I could create a factor - for example 22% of non-person gifts are from DAFs - and then multiply all the giving categories in the VSE by that factor? Not sure. It would be more art than science.

    I'm also not sure what to do with matching gift pass-through DAFs - which give both matching gifts and payroll deduction gifts.*

    We also have a variety of situations where organizations which have custodial DAFs also give us direct donations. I'm not sure how to classify those.*

    *I emailed these two questions to Ann Kaplan.

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    Aaron Forrest
    Senior Director, Gift and Donor Services
    University of Rochester
    aaron.forrest@rochester.edu
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  • 2.  RE: Donor Advised Funds

    Posted 09-21-2022 07:36 AM
    Hey Aaron - We have a separate record type for DAFs in our system (Ellucian Advance). Like Corporations, Foundations, Alumni, Friends, Parents, etc., we have Fidelity Charitable, Schwab Charitable, United Way, Vanguard, American Online Giving Foundation, etc. all coded as DAFs. I can provide you a list of what we have on the side if you like. 

    For the situations you outlined, we book those gifts directly from the DAF and input a comment calling out the matching gift company. Talk about art vs. science when trying to pull matching gift numbers!

    Let me know if you want me to send you the list on the side.

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    Nick McCaffery
    Sr. Director of Financial and Administration
    Rochester Institute of Technology
    nmmdar@RIT.EDU
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    Original Message


  • 3.  RE: Donor Advised Funds

    Posted 09-21-2022 08:56 AM
    Aaron - good questions. We're still muddling through the VSE as well.

    Still refining the way we identify donor advised funds. We have a constituent code that we've only recently began to use consistently. We also have a relationship between the donor advised fund and the individual in our database. Our list includes area community foundations so I suspect that all of our lists of DAFs will vary on that basis but here are some of the larger/national names I pulled:

    Vanguard Charitable Endowment Program

    T. Rowe Price Associates Foundation, Inc.

    Stifel Charitable Inc

    Charities Aid Foundation of America

    Schwab Fund for Charitable Giving

    Fidelity Investments Charitable Gift Fund

    National Philanthropic Trust

    TIAA Charitable

    American Endowment Foundation

    ImpactAssets (?)

    Ayco Charitable Foundation (subsidiary of Goldman Sachs; may be a name that eventually gets eliminated)



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    Kimberly Berry
    Associate Vice President, Advancement Operations
    Guilford College
    kberry@guilford.edu
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    Original Message


  • 4.  RE: Donor Advised Funds

    Posted 09-21-2022 09:09 AM

    Update that Ann Kaplan advises that the custodial DAF Community Foundation gift are DAF gifts, and the non DAF-related Community Foundation gifts are not DAFs. We don't have a way to know the difference on those, so I may not count those as DAFs at all. Not sure yet. Still chopping away at a list.

     

     

    Aaron Forrest CPA

    Senior Director Gift and Donor Services

    University of Rochester Office of Advancement

    585.275.2799 | aaron.forrest@rochester.edu

     




    Original Message


  • 5.  RE: Donor Advised Funds

    Posted 09-21-2022 02:17 PM

    I think I'm cooking with gas now. I've created a list of DAFs by name* with the help of some of you great folks. Thank you! I've pivoted all gifts from any of these entities by CFAE codes. I'll subtract that number from the Other Orgs number and shoehorn in a DAF category to my VSE reports. Not science. But could work?

     

    *I only used true DAFs and not community foundations, United Way, or anything like that. I have no way to tease DAF distributions out of those entities' giving histories.

     

     

    Aaron Forrest CPA

    Senior Director Gift and Donor Services

    University of Rochester Office of Advancement

    585.275.2799 | aaron.forrest@rochester.edu

     




    Original Message


  • 6.  RE: Donor Advised Funds

    Posted 09-22-2022 08:19 AM
    Hi Aaron, I wanted to add that we decided to create a payment type for DAF gifts, which is helping us extract them from the other funds, and we went back and adjusted contributions from last year so we could pull the report. Sounds like you have a solution for this year, which is good.

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    Lianna Bodzin
    Assistant Director of Advancement Services
    Colorado School of Mines
    lbodzin@mines.edu
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    Original Message


  • 7.  RE: Donor Advised Funds

    Posted 09-22-2022 08:27 AM
    Yes, that is what we did at NC State -- a transaction type for DAF gifts.

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    Jeff Baynham
    Associate Vice Chancellor, Advancement Services
    NC State University
    jtbaynha@ncsu.edu
    ------------------------------

    Original Message


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