FundSvcs Community

Hi Fundsvcs friends,

I'm hoping to get clarity on the question of what the gift date should be for gifts we recieve via EFT from DAFs, specifically Fidelity Charitable. As everyone who gets EFTs from Fidelity Charitable knows, you receive an email notification that contains a report of individuals who initiated the gifts, including name, designation, amount, effective date, etc. I've confirmed with Fidelity that the Effective Date = the date Fidelity relinquished the money. We've been using the effective gift date provided in those reports as the gift date in Raiser's Edge, as opposed to the date of the email received. For example, if it's FYE and we get an email from Fidelity dated June 29th but the effective date listed for each gift in the report is July 2, we would book the gift as July 2. 

I did search the archives and found some helpful answers and, of course, I went back again to review John's annual Date of Gift Summary (aka the Bible!) and shared my results internally, but I'm still getting questions and push-back.  Also, I fully acknowledge that any donors that fall into this scenario could be recognized, stewardship-wise, as a FY24 donor, but not audit-wise. 

I'd love to get feedback on how others are handling the gift date, specifically dealing with Fidelity Charitable -where the date of the email and the effective date listed in the report therein are different- and, more importantly what is the correct answer and the explanation behind why it should be done that way?

Bottomline: I want make sure our gift entry policies clearly state the correct way to handle these gifts to avoid any confusion in the future.  

Forever grateful,
Kate

Hi Fundsvcs friends,

I'm hoping to get clarity on the question of what the gift date should be for gifts we recieve via EFT from DAFs, specifically Fidelity Charitable. As everyone who gets EFTs from Fidelity Charitable knows, you receive an email notification that contains a report of individuals who initiated the gifts, including name, designation, amount, effective date, etc. I've confirmed with Fidelity that the Effective Date = the date Fidelity relinquished the money. We've been using the effective gift date provided in those reports as the gift date in Raiser's Edge, as opposed to the date of the email received. For example, if it's FYE and we get an email from Fidelity dated June 29th but the effective date listed for each gift in the report is July 2, we would book the gift as July 2. 

I did search the archives and found some helpful answers and, of course, I went back again to review John's annual Date of Gift Summary (aka the Bible!) and shared my results internally, but I'm still getting questions and push-back.  Also, I fully acknowledge that any donors that fall into this scenario could be recognized, stewardship-wise, as a FY24 donor, but not audit-wise. 

I'd love to get feedback on how others are handling the gift date, specifically dealing with Fidelity Charitable -where the date of the email and the effective date listed in the report therein are different- and, more importantly what is the correct answer and the explanation behind why it should be done that way?

Bottomline: I want make sure our gift entry policies clearly state the correct way to handle these gifts to avoid any confusion in the future.  

Forever grateful,
Kate

Hi Fundsvcs friends,

I'm hoping to get clarity on the question of what the gift date should be for gifts we recieve via EFT from DAFs, specifically Fidelity Charitable. As everyone who gets EFTs from Fidelity Charitable knows, you receive an email notification that contains a report of individuals who initiated the gifts, including name, designation, amount, effective date, etc. I've confirmed with Fidelity that the Effective Date = the date Fidelity relinquished the money. We've been using the effective gift date provided in those reports as the gift date in Raiser's Edge, as opposed to the date of the email received. For example, if it's FYE and we get an email from Fidelity dated June 29th but the effective date listed for each gift in the report is July 2, we would book the gift as July 2. 

I did search the archives and found some helpful answers and, of course, I went back again to review John's annual Date of Gift Summary (aka the Bible!) and shared my results internally, but I'm still getting questions and push-back.  Also, I fully acknowledge that any donors that fall into this scenario could be recognized, stewardship-wise, as a FY24 donor, but not audit-wise. 

I'd love to get feedback on how others are handling the gift date, specifically dealing with Fidelity Charitable -where the date of the email and the effective date listed in the report therein are different- and, more importantly what is the correct answer and the explanation behind why it should be done that way?

Bottomline: I want make sure our gift entry policies clearly state the correct way to handle these gifts to avoid any confusion in the future.  

Forever grateful,
Kate

Hi Fundsvcs friends,

I'm hoping to get clarity on the question of what the gift date should be for gifts we recieve via EFT from DAFs, specifically Fidelity Charitable. As everyone who gets EFTs from Fidelity Charitable knows, you receive an email notification that contains a report of individuals who initiated the gifts, including name, designation, amount, effective date, etc. I've confirmed with Fidelity that the Effective Date = the date Fidelity relinquished the money. We've been using the effective gift date provided in those reports as the gift date in Raiser's Edge, as opposed to the date of the email received. For example, if it's FYE and we get an email from Fidelity dated June 29th but the effective date listed for each gift in the report is July 2, we would book the gift as July 2. 

I did search the archives and found some helpful answers and, of course, I went back again to review John's annual Date of Gift Summary (aka the Bible!) and shared my results internally, but I'm still getting questions and push-back.  Also, I fully acknowledge that any donors that fall into this scenario could be recognized, stewardship-wise, as a FY24 donor, but not audit-wise. 

I'd love to get feedback on how others are handling the gift date, specifically dealing with Fidelity Charitable -where the date of the email and the effective date listed in the report therein are different- and, more importantly what is the correct answer and the explanation behind why it should be done that way?

Bottomline: I want make sure our gift entry policies clearly state the correct way to handle these gifts to avoid any confusion in the future.  

Forever grateful,
Kate